What we’re reading (2/12)
“Health Insurers Deny 850 Million Claims a Year. The Few Who Appeal Often Win.” (Wall Street Journal). “Health insurers process more than five billion payment claims annually, federal figures show. About 850 million are denied, according to health-policy nonprofit KFF. Less than 1% of patients appeal. Few people realize how worthwhile those labors can be: Up to three-quarters of claim appeals are granted, studies show…Edward Stratton underwent four years of surgeries, radiation and chemotherapy after he was diagnosed with colorectal cancer in 2019. Doctors declared he had no evidence of cancer in July 2023. But the treatments had destroyed his liver. Doctors recommended a transplant. His insurer, Elevance Health, rejected the claim and three appeals in letters referencing research showing a new liver didn’t improve outcomes for people with colorectal cancer. Elevance didn’t respond to messages from Stratton’s doctors demonstrating he didn’t have cancer anymore. Stratton, with help from his daughter, appealed again in July 2024 and copied regulators, Elevance board members and journalists on his email. The appeal cited a similar case in which Elevance overturned its denial, and noted two other insurers used updated guidance with more nuanced views of transplantation. Stratton also said denying him a transplant would kill him. Elevance overturned the denial.”
“Fed Rate Cuts Bets Trimmed As Powell Says ‘Close But Not There’ On Inflation” (Yahoo! Finance). “A hotter-than-expected inflation reading at the start of 2025 makes it much more likely that the Federal Reserve will keep rates on hold for the foreseeable future, reinforcing a cautionary stance from Fed Chair Jerome Powell.”
“What Is Living Intelligence, The New Frontier In AI?” (The Week). “Artificial intelligence has been at the center of the tech world, but it's not the only technology businesses need to prepare for. In the future, AI will combine with other advancing technologies to create a new wave of personalized AI capable of anticipating users' actions and evolving independently, said Amy Webb, a futurist and professor at the NYU Stern School of Business, at the Harvard Business Review. This phenomenon, called living intelligence, could be the next big thing.”
“Joann, The Bankrupt Fabrics Retailer, Is Closing 500 Of Its 800 Stores” (CNN Business). “Joann, the fabrics and crafts retailer, is closing more than half of its 800 stores in the coming months as it continues to navigate the bankruptcy process. Approximately 500 stores across the United States are closing, the retailer said in a statement to CNN, saying that ‘right-sizing our store footprint is a critical part of our efforts to ensure the best path forward.’”
