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Photo: John Moore/Getty Images

A panel of federal judges upheld the Trump administration's cuts to Medicare payments for routine medical visits in a hospital outpatient office — a blow to the hospital industry, which will lose hundreds of millions of dollars annually.

The big picture: Hospitals last year successfully quashed a similar rule, which would have equalized Medicare's pay rates for basic doctor visits, regardless of whether they took place in a hospital-owned or independent clinic. The American Hospital Association said in a statement it is "carefully reviewing the decision to determine our next steps."

Go deeper

Oct 14, 2020 - Health

Private equity-owned air ambulances charge the highest rates

Adapted from Brookings; Chart: Axios Visuals

Air ambulances owned by private equity firms charge the highest rates — more than seven times what Medicare pays, according to a new analysis by the USC-Brookings Schaeffer Initiative for Health Policy.

Why it matters: Air ambulances are frequent sources of surprise medical bills, and even when they're covered by insurance, we all pay for these expensive prices through our premiums.

Oct 14, 2020 - Health

Seniors won't receive Trump drug discount cards until after election

Illustration: Aïda Amer/Axios

The $200 prescription drug discount cards the Trump administration promised to Medicare recipients won't likely reach households by the Nov. 3 goal, the Wall Street Journal reports.

Why it matters: The cards, which Trump announced in late September with little detail, target voters over 65, a group that is crucial to the president's reelection bid.

Battle for the soul of a new web

Illustration: Aïda Amer/Axios

A well-funded and intensely motivated chunk of tech's hive mind is finding common cause in a vast new project: rebuilding the web on a foundation of cryptocurrency and blockchain tech. They call it "Web3."

The big picture: Developers, investors and early adopters imagine a future in which the technologies that enable Bitcoin and Ethereum will break up the concentrated power today's tech giants wield and usher in a golden age of individual empowerment and entrepreneurial freedom.

You’ve caught up. Now what?

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