Illustration: Aïda Amer/Axios

A billionaire with an interest in health care, state legislatures and a well-respected policy shop are all aligning in 2020 to take on hospital costs.

Driving the news: Modern Healthcare reports that the National Association for State Health Policy will be coming up with model legislation in 2020 to help states rein in hospital spending, in addition to work on drug costs.

  • This cost-cutting initiative is funded by billionaire John Arnold, who has already put up millions to fight the drug industry. Arnold's foundation is expected to give NASHP more than $2 million this year, per Modern Healthcare.

Why it matters: Arnold is just one man, and NASHP writing some model bills is no guarantee that any or many states will adopt those ideas.

Go deeper:

Go deeper

17 mins ago - Health

SPACs are the new IPOs

Churchill Capital Corp. III has agreed to acquire health-cost management services provider Multiplan at an initial enterprise value of $11 billion, as such deals continue to proliferate as alternatives to IPOs.

Why it matters: This is the largest special purpose acquisition company (SPAC) merger, and also includes the largest private investment in public equity (PIPE) associated with a SPAC. Existing Multiplan owners like Hellman & Friedman and General Atlantic will roll over more than 75% of their collective stake, and own over 60% of the public company.

Washington Redskins will change team name

Photo: Patrick McDermott/Getty Images

The Washington Redskins announced Monday that the NFL team plans to change its name.

Why it matters: It brings an end to decades of debate around the name — considered by many to be racist toward Native Americans. The change was jumpstarted by nationwide protests against systemic racism in the U.S. this summer.

3 hours ago - Health

Houston public health system CEO says coronavirus situation is "dire"

Houston's coronavirus situation is "dire, and it's getting worse, seems like, every day," Harris Health System CEO and President Dr. Esmail Porsa said Monday on MSNBC's "Morning Joe."

The big picture: Porsa said the region is seeing numbers related to the spread of the virus that are "disproportionately higher than anything we have experienced in the past." He noted that Lyndon B. Johnson Hospital's ICU is at 113% capacity, and 75% of its beds are coronavirus patients.