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JUNE 12NETWORKING WITH REAL ESTATEJoin us for networking, deal-making, and a live interview with New York City Planning Director, Dan Garodnick, the architect of the ambitious City of Yes initiative to modernize zoning regulations to support small businesses, create affordable housing and promote sustainability. Garodnick will discuss the details, timing, opportunities, and potential economic impact in a conversation with Crain's New York Editor-in-Chief Cory Schouten.DETAILSLocation: 1177 Avenue of the AmericasCrainsNewYork.com/NETREAL [Extracted from the article]

JUNE 12REAL ESTATE NETWORKINGJoin us for networking, deal-making, and a live interview with New York City Planning Director Dan Gardonick, the architect of the ambitious City of Yes initiative to modernize zoning regulations to support small businesses, create affordable housing and promote sustainability. Gardonick will discuss the details, timing, opportunities, and potential economic impact in a conversation with Crain's New York Editor-in-Chief Cory Schouten.DETAILSLocation: 1177 Avenue of the AmericasCrainsNewYork.com/NETREAL [Extracted from the article]

JUNE 12REAL ESTATE NETWORKINGJoin us for networking, deal-making, and a live interview with New York City Planning Director, Dan Gardonick, the architect of the ambitious City of Yes initiative to modernize zoning regulations to support small businesses, create affordable housing and promote sustainability. Gardonick will discuss the details, timing, opportunities, and potential economic impact in a conversation with Crain's New York Editor-in-Chief Cory Schouten.DETAILSLocation: 1177 Avenue of the AmericasCrainsNewYork.com/NETREAL [Extracted from the article]

The New York Yankees are the most valuable team in Major League Baseball, with a value of $7.55 billion. They are expected to generate $606 million in economic impact for the city during the 2024 regular season. In comparison, the New York Mets are expected to generate $353 million, about 42% less than the Yankees. These figures include ticket sales, merchandise, transportation costs, lodging, and employee salaries. The higher economic impact of the Yankees is attributed to higher ticket prices and expected attendance. The forecast for both teams is higher than the previous year, with the Mets experiencing a slight increase in ticket prices. The combined estimate for both teams does not include potential postseason earnings. [Extracted from the article]

Michigan and Ohio are facing population stagnation, which is negatively impacting their economies and residents' well-being. Both states are experiencing restricted immigration, low birth rates, and a "gray tsunami" of retiring baby boomers. To combat this issue, Michigan has created a task force and installed a population czar, while Ohio has launched new workforce attraction tools. However, reversing the trend of migration to warmer climates and more popular cities is challenging. Other states like North Carolina, Idaho, and South Carolina are experiencing population growth due to factors such as a rising tech sector, manufacturing growth, and a higher birth-to-death rate. The cost of living and public transportation are often cited as deterrents to attracting young workers, but these factors do not fully explain the migration patterns. Successful programs to attract migrants include Tulsa, Oklahoma's Tulsa Remote program, which offers financial incentives and wraparound services, and Alabama's targeted worker program. Michigan is also implementing the Make MI Home program and using marketing campaigns to change perceptions of the state. Ohio has launched the All Ohio Future Fund to attract new businesses. The success of these efforts and their impact on population trends remain uncertain. [Extracted from the article]

Leaders of the University Research Corridor (URC), which includes the University of Michigan (UM), Michigan State University (MSU), and Wayne State University (WSU), are increasing their collaboration to drive economic impact in Detroit and the state of Michigan. The URC aims to strengthen talent, research innovation, and economic growth through its anchor universities. The leaders believe that by leveraging their combined assets, they can attract new businesses, retain talent, and lift Michigan's economy. UM is investing $500 million in a new center in Detroit, which will serve as an innovation incubator and offer new degrees for the sustainable workforce of the future. [Extracted from the article]

The 2024 NFL Draft had a significant economic impact on the Detroit region, according to a report released by Visit Detroit and the Detroit Sports Commission. The draft brought in $213.6 million in economic impact, with $161.3 million in new spending in the region. Around $106.4 million of that will be retained long term within the region, benefiting households, business owners, and tax revenue. The report also highlighted the positive effects on local minority businesses, with the NFL spending about $12.1 million on local minority-owned businesses and 34 contracts awarded to Black-owned businesses. The draft attracted fans from all 50 U.S. states and over 20 countries, with hotel occupancy reaching a high of 92% on the first day of the event. The findings of the report reaffirm the decision to host the draft and promote the region as a premier destination for leisure travel and sporting events. [Extracted from the article]

Carlos Naudon, the president and CEO of Ponce Bank, has been appointed as the fourth member of the Gaming Facility Location Board, which will decide who receives a downstate casino license in New York City. The board, which is supposed to have five members, will choose which developers and gaming companies receive the three licenses to open casinos in the city and its suburbs. The board will consider factors such as economic development potential and commitment to diverse hiring when making their decisions. No casino applications have been submitted yet, but the board is preparing to open up bids soon. [Extracted from the article]

The article discusses the need for the Department of Transportation in New York City to create new trucking routes that balance the needs of businesses and the health and well-being of residents. The current truck traffic in the city has negatively impacted neighborhoods, and the new routes aim to alleviate this issue. However, the department must carefully consider the economic implications, as rerouted trucks may lead to increased costs for businesses and potentially deter new businesses from operating in the city. The article emphasizes the importance of finding a holistic approach that prioritizes safety, health, and economic vitality. The Adams administration and the Trucking Association of New York support this effort. Ultimately, the goal is to create a city that is safe, clean, and conducive to business. [Extracted from the article]

The 2024 NFL Draft in Detroit exceeded initial projections for its economic impact on the city and Southeast Michigan. Visit Detroit President and CEO Claude Molinari stated that the draft week was the region's best hotel revenue week ever, and the economic consulting firm Anderson Economic Group LLC forecasted a net economic impact of over $165 million. The event set records for attendance, with over 775,000 people visiting the city during the three-day draft. The success of the draft has led to increased interest in Detroit as a host for future events, including the possibility of hosting an NBA or NHL All-Star weekend. The event was well-managed, with minimal issues and arrests reported by the Detroit Police Department. Local vendors and businesses also benefited from the increased foot traffic and exposure. Overall, the draft showcased the vibrancy and culture of Detroit to a national and international audience, and city officials believe it will have a lasting positive impact on tourism and investment in the area. [Extracted from the article]

According to a study commissioned by the Chaldean Community Foundation and the Chaldean American Chamber of Commerce, the Chaldean population in Southeast Michigan has experienced significant growth and an increase in economic impact. The study reveals that the Chaldean population's economic impact has risen from $3.7 billion in 2008 to an estimated $17.6 billion in 2023. Over the past five years, the community's economic impact has increased by nearly 65%. The Chaldean people, who were traditionally a merchant community in Iraq, have excelled in Southeast Michigan due to religious and economic freedom. They are involved in various sectors, including retail, hotels, real estate development, and more. The study aims to raise awareness of the Chaldean community's presence and impact and advocate for the acceptance of Christian Iraqi refugees in the United States. The Chaldean population in Macomb and Oakland counties is estimated to be around 183,500 people, with the heaviest concentrations in Sterling Heights and West Bloomfield. The Chaldean chamber and foundation are working on a project to create a second community center and larger headquarters in West Bloomfield. The new facility will include various amenities such as a business incubator, workforce training, a radio and podcast studio, a theater, and a library to preserve historic manuscripts. [Extracted from the article]

This section offers news briefs pertaining to the U.S. healthcare industry, as of March 2023, including net loss posted by Providence in 2022 and the retirement of Altlanticare President and chief executive officer Lori Herndon.

Suburban lawmakers want to derail Gov. Kathy Hochul's proposal to raise the payroll mobility tax on New York metropolitan area businesses. Get outta town: Suburbs balk at paying "unfair" MTA tax: City legislators say plan doesn't go far enough Hochul is seeking to raise the payroll mobility tax to 0.5% from 0.34% for employers within the authority's district, which includes the city, Long Island and the Hudson Valley. [Extracted from the article]

Michigan received billions of dollars in federal funding as part of the American Rescue Plan to respond to and recover from the COVID-19 pandemic. The funding, known as State Fiscal and Local Recovery Funds, provides flexibility on how it can be spent. Michigan received $6.5 billion, with $4.4 billion going to 1,800 local governments across the state. The funds can be used to replace lost revenue, respond to public health and economic impacts, provide premium pay for essential workers, and invest in infrastructure. Additionally, Michigan's school districts and charter schools received over $5 billion in flexible funding to address the effects of the pandemic on education. [Extracted from the article]

The article reports that the strong clinical and operational performance at the U.S. high-performing hospitals is associated with their more efficient use of drugs and supplies. It mentions that hospitals in the study that spent less than expected on pharmaceutical products, patients experienced fewer readmissions due to acute myocardial infarction, heart failure and pneumonia, and lower overall average rates of 30-day readmissions.

The state approved an incentives package valued at $1.7 billion - the largest subsidy approved by any state this year - to land the Ford-CATL battery plant in Marshall, about 100 miles west of Detroit. If automakers are to meet ambitious EV sales goals - half of all new car sales in the U.S. could be electric by 2035, according to an S&P Global Mobility projection - they will need to build at least twice as many plants. Tennessee did approve $884 million of incentives for Ford's $5.6 billion, 6,000 job EV investment announced in tandem with its Kentucky plant, but the prize was more valuable than just a battery plant. [Extracted from the article]

An introduction is presented in which the editor discusses various reports within the issue on topics including the CVS Health requirement on a medication switch, telehealth's non-duplicative care delivery, and the impact of Medicare cuts on rural hospitals.

The article explores the impact of investors buying up Medicare Advantage (MA)-focused providers for huge sums of money and investing in startup insurers that promise to disrupt the 350 billion U.S. dollars MA market. Topics covered include the signs which show MA market overvaluation, the possibility of an MA market bubble in 2023, and the reason why MA plans cost the U.S. government more than fee-for-service Medicare.

Millions of dollars from fans and drivers that flow into metro Detroit from an annual racing event are more likely to be concentrated in the city, backers said, as the course moves downtown from Belle Isle. For the city, Rosentraub said, it doesn't matter how much money the race brings to Southeast Michigan - it only matters what is spent within Detroit's city limits. Limited impact Szymanski, whose book "City of Champions" includes a chapter on the earlier downtown iteration of the Detroit Grand Prix, said businesses that were "sitting in the middle of the course" had a great day, but others suffered because people who would have otherwise come to the city decided to stay away from downtown. [Extracted from the article]

The article discusses the likely merger of healthcare payer and provider in 2022, based on a survey that many health systems' plan to partner with payers to support the transition from fee-for service and to build new data integrity, reporting, and technology systems, as of December 2021.

Lear Corp. announced and $80 million battery parts plant in Independence Township to support GM after opening a new seating plant in Detroit that supplies GM's Factory Zero in Hamtramck. Ford's planned plant has an employment multiplier of 3.38, meaning that for every direct job from Ford, the state's economy will add 3.38 indirect jobs. For some in Marshall, the $3.5 billion electric vehicle battery factory planned by Ford Motor Co. is seen as a business boon. [Extracted from the article]

The article discusses the status of hospital mergers and acquisitions in the U.S., as of June 2021. Topics include reasons behind the failure of several notable hospital transactions, results of "Modern Healthcare's" analysis of Medicare cost reports from 2013 to 2019, and findings of a study commissioned in 2019 by the American Hospital Association on acquired hospitals .

A new relief fund wants to help theater workers return to the city so they can go back to work. "There is a whole generation of theater workers who have those skill sets - those aren't jobs that anyone can step into", Jarrow said. [Extracted from the article]

The article reports that U.S. Senate has passed a measure 90-2 that would extend a moratorium on the cuts through the end of 2021. Topics mentioned include the impact of the COVID-19 pandemic on providers' finances, views from American Hospital Association Chief Executive Officer Rick Pollack about the Medicare cuts, and information on a federal law called PAYGO.

While about 60% of companies in the sector received PPP loans, restrictions on how the money got used and the short term of the covered period has meant that companies could still not afford to stay open, and 60% (though not necessarily the same companies) have closed permanently or temporarily since last March. 1. THE ISSUE The entertainment industry had the longest and most restrictive shutdowns of any other city sector, and for months the operators of live music venues, theaters, museums and movie theaters sought money that would help them survive. SOME BACKGROUND Though federal and local relief has helped bridge the gaps for many firms, most previous programs did not take into consideration the extremely long shutdowns of this sector. [Extracted from the article]

The article reports on a study in Health Affairs in March 2021, which showed that the impact of the COVID-19 pandemic makes it hard to determine the effectiveness of the changes implemented by the U.S. Centers for Medicare & Medicaid Services (CMS) for the reimbursement for therapy services in skilled-nursing facilities (SNF). The patient-driven payment model replaced the Resource Utilization Group (RUG) payment system.

The article reports on the issues tackled by U.S. Department of Health and Human Services (HHS) Secretary nominee Xavier Becerra during his confirmation hearings as of March 2021, including Medicare Advantage, drug pricing, and the 340B program.

The article discusses the results of "Modern Healthcare" magazine's CEO Power Panel survey about the trends in the U.S. healthcare sector in the first quarter of 2021. Findings include the increase in merger-and-acquisition deals, the growing interest of providers in value-based contracting, and the shortage of registered nurses.

Andrew Yang's proposal of guaranteed income regardless of employment - universal basic income - may have been popular enough to give him a national profile in the 2020 presidential race, but it's unlikely to be implemented in New York City. But economists argue Yang's UBI policy would push immigrants in New York and vulnerable New Yorkers in the Black and brown communities out of the social safety net. [Extracted from the article]

The article reports that several medical organizations have published a study which revealed the effect of the debt-ceiling law on employment in the health care sector in the U.S. Under the debt-ceiling law, a maximum of two percent will be cut to Medicare annually in a ten-year period. The study found that the cuts will lead to mass layoffs in healthcare, removing more than 766,000 jobs during the period.

The article reports on efforts by the administration of U.S. President Barack Obama to prevent states from cutting enrollment in Medicaid due to funding constraints. The maintenance of effort requirement in the 2009 American Recovery and Reinvestment Act is being used by federal officials to keep states from cutting Medicaid enrollment. A letter was sent by governors to Health and Human Services (HHS) Secretary Kathleen Sebelius in January 2011 to ask the federal government to waive cuts in funding to states that reduce their Medicaid rolls.

The article discusses the decline in healthcare spending in the U.S. in 2009 due to recession and job losses. According to authors of the report "Health Affairs," the loss of private health insurance coverage from employers is the reason for the decrease in healthcare service utilization among consumers. Hospitals reportedly had improved margins by reducing costs. Also noted are some of the factors that contributed to the slowdown of healthcare spending, based on the figures issued by the Centers for Medicare and Medicaid Services (CMS).

The article reports that monthly premiums for Medicare Advantage plans are expected to decrease again in 2021. Topics mentioned include percentage of Advantage enrollees who pay a premium for the coverage, an increase in enrollment in Medicare Part C by 10 percent to 26.9 million in 2021, and opportunity for insurers to tailor benefits or reduce cost-sharing to address patients' chronic illnesses.

The article discusses U.S. hospitals' possible higher revenues for treating coronavirus disease 2019 (COVID-19) patients as of September 14, 2020. Topics covered include a hospital giant's 38% profit increase from the prior year period with no elective procedures, but with most hospitals' appearing to lose money on COVID care, and the revenue-based formula on distributing Provider Relief Fund grants. Also noted are the pandemic's unclear factors that prevent margin isolation on COVID cases.

The article explains why an accurate census count in 2020 is important. Topics mentioned include the areas of application for census data including the distribution of federal funds for Medicaid and child care for low-income families and the execution of population health management strategies, the effect of the COVID-19 pandemic on census accuracy, and the implications of inaccurate census data.

The article offers a summary of federal coronavirus disease-2019 (COVID-19) relief funds available to U.S. healthcare providers, such as the Paycheck Protection Program which is open to businesses with 500 employees or fewer.

The article reports on a growing number of physicians and hospitals in the U.S. considering hiring consultants following changes to the Medicare Shared Savings Program for accountable care organizations (ACO). Topics covered include a new requirement for participants to enter a downside-risk track within three years, the effect of the new rule on small independent physician practices or hospitals, and the support provided by ACO enablers.

The article explores the outcome of programs of the Center for Medicare & Medicaid Innovation (CMMI) created by the U.S. Congress under the Affordable Care Act (ACA). The center has been tasked to design, test and expand new payment and care delivery models that reduce spending without lowering the quality of health care. It has been expected to save Medicare 18 billion U.s. dollars during the period from 2017 to 2026.

The article discusses the findings of a report on supplemental Medicaid payments in the U.S. According to the Office of Inspector General of the U.S. Department of Health & Human Services (HHS), such payments in six states were not based on the actual cost of care nor were they used to improve health care. Katherine Baicker, dean of the University of Chicago Harris School of Public Policy, said that there is no assurance that funding goes to the underserved.

The article reports that the U.S. Federal Trade Commission is set to challenge the proposed merger between Jefferson Health and Albert Einstein Healthcare Network.

The article reports on the increase in the profits of the largest publicly traded health insurance companies in the U.S. in 2019. Topics discussed include the role of mergers and acquisitions in driving the companies' profits, the increasing diversity of operations of health insurers, and the financial performance of some of the country's major health insurers including Cigna, CVS Health and Anthem.

The article reports that New York Governor Andrew Cuomo has ordered a panel composing of government and health care industry officials to find ways to save 2.5 billion dollars from the Medicaid program.

The article reports that some pharmacies have misused beneficiaries' Medicare Part D eligibility data due to the lack of monitoring by the Centers for Medicare & Medicaid Services (CMS), according to the Department of Health & Human Services' (HHS) Office of Inspector General following an audit of several organizations.

The article reports on a proposal by the U.S. Centers for Medicare and Medicaid Services to increase baseline Medicare Advantage payment rates for 2021. Topics discussed include the claim that the change would increase access to care for rural seniors and lower the costs of Advantage plans and the estimated amount that the federal government could save from the rule.

The article reports on the opposition of hospital industry stakeholders to the Medicaid Fiscal Accountability Regulation in the U.S. Topics discussed include the claim of the stakeholders that the regulation would harm beneficiaries and empower the Centers for Medicare and Medicaid Services and impact of the rule on funding.

The article reports on Medicaid block grant guidance released in the U.S. in January 2020 that would allow states to exclude some prescription drugs from their formularies. Topics discussed include overview of the Centers for Medicare and Medicaid Services' Healthy Adult Opportunity initiative and different views on the block grant policy.

The article discusses research led by Andrew Mulcahy and published in "The New England Journal of Medicine" which found that surgeons are overpaid billions of dollars for certain bundled procedures. Topics discussed include post-operative visits to the Centers for Medicare & Medicaid Services, CMS requirements to strengthen the agency's oversight of the visits, and Medicare's budget-neutral payment policy.

The article discusses a study performed by researchers at the University of Chicago and funded by the U.S. Center for Medicare and Medicaid Innovation which showed that the Next Generation Accountable Care Organization (ACO) model did not save Medicare money during the first two performance years.

The article discusses the use of medical chart reviews by Medicare Advantage insurance companies to collect higher payments from the U.S. federal government. The Office of Inspector General of the Department of Health and Human Services (HHS) has raised new concerns about the practice. Health insurers claimed that they used the charts to ensure accurate Medicare Advantage payments.