We looked inside Devoted Health’s 2020 financial results

Hello,

Welcome to Insider Healthcare. I'm Lydia Ramsey Pflanzer, and today in healthcare news:

• We looked at Devoted's 2020 financial results;
• Scientists are working on a pan-coronavirus vaccine;
• Everything you need to know about biotech compensation.

If you're new to this newsletter, sign up here. Comments, tips? Email me at [email protected] or tweet @lydiaramsey125. Let's get to it…

Health insurance startup Devoted Health's losses are deepening as it takes on more members

• 2020 was a big year of revenue and membership growth for health insurance startup Devoted Health.
• Insider found Devoted grew revenue nearly fivefold to $227.2 million in 2020, topping projections.
• Still, Devoted's net loss widened to $73.3 million from $27.4 million in 2019.

Get the full annual financial results here>>

A promising new vaccine candidate could protect us from multiple coronaviruses – including some that haven't jumped to humans yet

• Researchers are working on a vaccine that could protect against multiple coronaviruses.
• A new study found the shot to be highly protective against current coronavirus variants in monkeys.
• The technology could help avoid a future of seasonal booster shots.

Find out more>>

INSIDE BIOTECH: See the drug companies that are growing the fastest and pay workers the most

• Insider compiled data on the fastest-growing biotechs and pharmas, and what they're paying employees and executives.
• Hiring and retaining workers has been a challenge in the drug industry, leading to competitive pay packages.
• One company paid its median employee $701,000, while dozens of CEOs earned more than $18 million.

Here's a look at our coverage>>

More stories we're reading:

• How Dr. Ashish Jha became a ubiquitous presence in the pandemic (Stat News)
• A group of thousands of Japanese doctors want to cancel the Olympics as COVID-19 cases surge (Insider)
• HHS assistant secretary Rachel Levine lays out her priorities for the next few years (Bloomberg Law)
• I want to have kids but I worry about the impact on climate change. How can I move forward guilt-free? (Insider)

- Lydia