January 2015 Archives

Possible SEC Changes Could Affect Pool of "Accredited Investors" for Businesses

The SEC is considering adopting changes to its definition of "accredited investors" that may reduce the pool of accredited investors. While this reduction in the number of accredited investors would not preclude private companies and investment funds from relying upon the traditional exemptions under the securities laws (Rule 506, etc.), it would likely require enhanced informational disclosure to investors because not all offerees would continue to qualify as accredited, along with the resulting increase in legal fees incurred in connection with private placements of securities. Companies and investment funds seeking to raise capital from outside investors need to be sure that their fundraising activities are in full compliance with federal and state securities laws. Likewise, companies and investment sponsors who are considering private placements of securities this year may want to consider accelerating their fundraising sooner rather than later, due to the strong possibility the rules will change.

Historic Announcement: HHS Sets Clear Goals and Timeline for Shifting Medicare Reimbursements from Volume to Value

For the first time in the history of the Medicare program, the Department of Health and Human Services ("HHS") has set explicit goals for increasing alternative payment models and value-based payments. The historic change was announced by HHS Secretary Sylvia M. Burwell on Monday, January 26. To help achieve the goals, Secretary Burwell said that HHS intends to focus its energies on reform in three interdependent ways, including:

Doctors Face Fraud and Negligence Suit in Massachusetts for Administering Contaminated Drugs

The participants in the New England Compounding Center ("NECC") pharmacy fraud matter were indicted recently, but they are not the only ones facing legal battles. Lawsuits alleging death and injury caused by contaminated drugs compounded by NECC were filed against not only NECC, but also affiliated entities and individuals, and health care providers. All of the cases have been consolidated into a Multi-District Litigation ("MDL") in Massachusetts federal court.

Big Case for Doctors and Hospitals to be Heard by SCOTUS on Tuesday

The United States Supreme Court will hear arguments from the state of Idaho on one side and Medicaid health care providers on the other, about whether those providers can sue the State over low reimbursement rates under the Supremacy Clause of the Constitution.

House Passes Two Bills Affecting the Employer Mandate

Last week the U.S. House of Representatives passed two bills affecting the employer mandate under the Patient Protection and Affordable Care Act (ACA) that requires employers with 50 or more employees to provide health insurance to all full-time employees or pay a penalty.

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