Monthly Archives: August 2022

More than a third of COVID-19 tests done at Walgreens are positive – Poynter

Posted: August 2, 2022 at 3:52 pm

Covering COVID-19 is a daily Poynter briefing of story ideas about the coronavirus and other timely topics for journalists, written by senior faculty Al Tompkins. Sign up here to have it delivered to your inbox every weekday morning.

The Walgreens drug store chain posts the results of the COVID-19 tests it oversees, and the picture is grim. More than a third of the tests are positive and some states have seen a spike of 25% in the last week. Click on the map, which is linked to an interactive for each state.

Screnshots, Walgreens COVID-19 Index

The answer is yes and no. In all of the 60 or so years that monkeypox has infected people, it has not been spread by sexual contact. But that is one way that it is spreading now. The World Health Organization last week advised men to consider reducing their sexual partners for the moment. The WHO says 98% of the monkeypox cases detected since May have been among gay, bisexual and other men who have sex with men.

But the WHOs warning also shows that monkeypox is not only transmitted through sexual contact, so to call it an STD might lead people to believe there is no danger if they are not having sex with an infected person. The WHO says among the ways the virus can be transmitted are:

In recent days you have heard about the vaccine being used to fight the spread of monkeypox being the same vaccine used to fight smallpox. That might be disconcerting considering that smallpox killed one in three people it infected. Smallpox was extremely infectious.

Monkeypox is different from smallpox. It is rarely deadly. But the smallpox vaccine protected people against a related orthopoxvirus infection that we call monkeypox. Four decades ago, most countries that had a smallpox problem stopped delivering smallpox vaccines as the infection was eradicated. That means that now, monkeypox has an opportunity to make a comeback, as viruses sometimes do.

Vox explains that there are smallpox vaccines in U.S. storage called ACAM2000 that are not likely to be used unless monkeypox presents a much larger problem:

Public health leaders are weighing significant trade-offs: While using the USs stockpiles of smallpox vaccines might seem like an easy fix to this scary situation, the decision is much thornier than it appears. ACAM2000s potentially concerning side effects, the complex way it has to be administered, and limits on who can safely receive the vaccine seriously complicate the risk-benefit calculation around using it.

Health officials arent likely to make ACAM2000 widely available unless something big about the monkeypox outbreak changes. Heres why.

ACAM2000s best feature right now is its availability: 100 million-odd doses of the vaccine are currently sitting on the shelves at the US Strategic National Stockpile, largely untouched.

But it comes with a long list of contingencies, among them its unwieldy administration.

The FDA explains the not very comforting way that smallpox vaccines are administered:

ACAM2000 cannot cause smallpox; it does not contain the smallpox virus, but rather the live vaccinia virus not dead virus like many other vaccines. For this reason, attentively caring for the vaccination site is important to prevent the virus from spreading from the vaccination site to other parts of the body, or to other people.

ACAM2000 is administered differently than the typical shot associated with most vaccinations. A two-pronged stainless steel (or bifurcated) needle is dipped into the vaccine solution and the skin is pricked several times in the upper arm with a droplet of the vaccine. The virus begins growing at the injection site causing a localized infection or pock to form.

A red, itchy sore spot at the site of the vaccination within 3-4 days is an indicator that the vaccination was successful; that is, there is a take. A blister develops at the vaccination site and then dries up forming a scab that falls off in the third week, leaving a small scar. The vaccine stimulates a persons immune system to develop antibodies and cells in the blood and elsewhere that can then help the body fight off a real smallpox infection if exposure to smallpox ever occurs.

ACAM2000 is also not safe for immunocompromised people. And sometimes the vaccination does not take on the first try.

You might ask why the U.S. government keeps 100 million doses of vaccine on hand for a virus that was eradicated decades ago. The answer, the FDA says, is as a defense against smallpox being used as a biological weapon.

The Wall Street Journal zeroed in on the way Americans are shopping for bargains:

One way they are doing so is by relying more ondollar and discount stores for groceries. Average spending on grocery products at discount chains increased 71% from October 2021 to June 2022, according to analytics firm InMarket. Over that time period, spending on the same items in grocery stores decreased by 5%. Many large consumer brandsincluding WalmartandUnileverattest that theirprices arent going down anytime soon.

Other households are buying in bulk or making do without items they never used to think twice about spending money on. Sams Club membership income was up 10.5% year-over-year, according to parent company Walmarts May earnings call.

Consumer-products giantProcter & Gamble Co. just posted its largest sales gain in 16 years. Still, the companyis predicting its slowest sales growthin years as consumers cut back on household staples like the companys Tide detergent and Pampers diapers.

The WSJ story profiled some families that are cutting back on how much shampoo their kids use, shutting off nightlights to save electricity, wearing less makeup and using some products past their expiration dates.

These are the kinds of stories that make me want to listen to my mother tell me how her family made it through the Great Depression. I bet we could learn a lot from hearing those stories today.

There may soon be a day when before you go in for your colonoscopy you will not be drinking a gallon of awful-tasting liquid, but instead you will take a handful of pills and drink water.

The New York Times tells us:

In what experts believe could end the dread that keeps many people from this important screening the Food and Drug Administration approved a regimen of pills, Sutab, that studies showworks just as well as the liquid solutions without the vile flavor. Its a 24-tablet regimen: 12 pills the day before and 12 the next day, several hours before the procedure.

Patients still must drink lots of water, a total of 48 ounces the first day and another 48 ounces the next day. But at least plain water is tasteless.

The thing that is great about Sutab is that it takes the issue of the taste away, says Douglas K. Rex, distinguished professor emeritus of medicine at the Indiana University School of Medicine.

Youre still going to have to sit on the toilet, but not having to drink something that tastes awful is a big advantage.

Besides skin cancers, colon cancer is the third most common kind of cancer in the U.S., with 106,180 new cases expected this year. Anything that cuts down on the excuses people have not to get tested is a good thing.

The New York Times observed:

Owning an ice cream truck used to be a lucrative proposition, but for some, the expenses have become untenable: The diesel that powers the trucks has topped $7 a gallon, vanilla ice cream costs $13 a gallon and a 25-pound box of sprinkles now goes for about $60, double what it cost a year ago.

Though no organization appears to have hard figures on just how many ice-cream trucks are currently working the streets of New York City, some owners said they would likely leave the business in the next few years. Its a sentiment that is felt nationwide, where mobile ice-cream vendors face higher costs for city permits and registration, and hefty competition from other ice cream businesses, said Steve Christensen, the executive director of theNorth American Ice Cream Association.

The ice cream truck, he said, is unfortunately becoming a thing of the past.

New delivery methods, through third-party apps or ghost kitchens, are proliferating. Brick-and-mortar scoop shops are focusing on offering a fun experience, he said, and serve dozens more flavors than a traditional ice cream truck can, driving lines away from these vehicles.

New York City store clerks say it is not uncommon to see four shoplifting episodes per evening shift in one store as people steal food and other supplies.

(Twitter)

Well be back tomorrow with a new edition of Covering COVID-19. Sign up here to get it delivered right to your inbox.

Al Tompkins is senior faculty at Poynter. He can be reached at atompkins@poynter.org or on Twitter, @atompkins.

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COVID-19 Vaccine and Monoclonal Coverage: A Focus of the 2023 Medicare Physician Fee Schedule Proposed Rule – JD Supra

Posted: at 3:52 pm

The Centers for Medicare & Medicaid Services (CMS) recently issued the Medicare Physician Fee Schedule (PFS) proposed rule for calendar year (CY) 2023,[1] which clarified the timeline for increased COVID-19 vaccine administration fees and coverage of monoclonal antibody (mAb) products for the remainder of the public health emergency (PHE) and into the future.

The CY 2023 PFS proposed rule will become effective in 2023, and the deadline for public comment is September 6, 2022.

More broadly, CMS has reiterated that its goal for CY 2023 includes program expansions that create a more equitable health care system by providing better accessibility, quality, affordability, and innovation.[2] CMSs CY 2023 PFS proposed rule highlights the federal agencys goals to promote broad and timely access to both COVID-19 vaccines and mAb products.[3]

This Insight highlights four Medicare coverage and payment changes related to COVID-19 vaccines and mAb products in the CY 2023 PFS proposed rule and provides key takeaways for the commercialization of preventive vaccines and mAb products in the near future.

Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, COVID-19 was added to the vaccine coverage benefit under Part B of the Medicare program.[4] In its CY 2022 PFS final rule,[5] CMS established payments under Part B for COVID-19 vaccine administration at $40 per dose while existing preventive vaccines, such as pneumococcal, influenza, and Hepatitis B (HBV), remained at a payment rate of $30.[6]

CMS continues its efforts to establish payment for vaccine administration for the long-term in the CY 2023 PFS proposed rule. Through 2021, vaccine administration payment rates for pneumococcal, influenza, or HBV vaccines were established using a crosswalk for similar services paid under the PFS. In its CY 2022 PFS final rule, CMS responded to commenters concerns that the codes were improperly linked and did not reflect the unique costs of administering vaccines. Therefore, CMS finalized administration fees for non-COVID-19 vaccines (pneumococcal, influenza, and HBV) at $30, while establishing a $40 administration fee for COVID-19 vaccines.

CMS now proposes to update the payment for Part B vaccine administration by making adjustments to reflect cost differences for the geographic locality.[7]

CMS also proposes to continue the $40 administration fee for COVID-19. The agency anticipates vaccinating providers will continue to experience rising costs associated with staffing, scheduling, and reporting requirements as the number of patients increases, especially as boosters remain an important tool in the COVID-19 response. While CMS previously intended to maintain increased payment for COVID-19 vaccine administration through the end of the PHE, it has determined this transition will occur on January 1 in the year following the termination of the March 27, 2020, Emergency Use Authorization Declaration (EUA Declaration). The payment rate for COVID-19 vaccine administration will then be set at a rate that aligns with other Part B preventive vaccine administration payment rates, which are currently at $30.[8]

In June 2021, CMS announced an add-on payment with a national rate of $35 for COVID-19 vaccine in-home (at-home) administration, bringing the national average for at-home COVID-19 vaccine administration payments to $75 per dose ($40 for the COVID-19 vaccine administration and an additional $35 for administration in the home). By August 2021, CMS had expanded the circumstance for when the add-on payment was available, allowing providers and suppliers who administered the COVID-19 vaccine at a patients home to bill Medicare. These policies were established to ensure beneficiaries received access to COVID-19 vaccines during the PHE.

After hearing multiple requests from commenters to extend the add-on payment past the PHE, CMS acknowledged in the CY 2022 PFS final rule that the costs of at-home COVID-19 vaccine administration would not diminish immediately after the PHE, thereby stating that it would allow the $35 add-on payment to continue until the end of the calendar year of the PHE. CMSs CY 2023 PFS proposed rule suggests the continuation of the additional $35 payment for at-home vaccination beyond the PHE, which allows the agency to maintain expanded COVID-19 vaccine access for vulnerable housebound beneficiaries. The CY 2023 PFS proposed rule also underscores the agencys need to better understand COVID-19 vaccine inaccessibility barriers in the Medicare population.[9]

While the CY 2023 PFS proposed rule provides a continuation of the additional $35 payment for at-home COVID-19 vaccine administration, it does not include other preventive vaccines. CMS requests comments related to the inclusion of other Part B preventive vaccines (such as pneumococcal, influenza, and HBV).

Once COVID-19 mAb products for treatment and post-exposure prophylaxis were granted EUAs, CMSs CY 2022 PFS final rule finalized coverage and payment for COVID-19 mAb products under the Part B vaccine benefit. Notably, this determination absolved beneficiaries of cost-sharing responsibility for both the mAb product and its administration.

The payment for administration of mAb products for treatment or post-exposure prophylaxis under Part B ranges between $150.50 and $750.00. CMS intends to continue coverage under the Part B vaccine benefit at these reimbursement levels until the EUA Declaration is terminated. In the year following termination of the EUA Declaration, CMS intends to then transition coverage of these products to ordinary system coverage for complex biological products under Part B.

Following the CY 2022 PFS final rule, a mAb product was granted an EUA for use as pre-exposure prophylaxis prevention of COVID-19. Although the CMS policies regarding coverage of COVID-19 mAb products did not address mAb products used for prevention of COVID-19, the agency covered and paid for them without subjecting patients to out-of-pocket costs.

CMS proposes to continue coverage of preventive mAb products under the Part B vaccine benefit beyond the termination of the EUA Declaration, so long as a product has market authorization. CMS also proposes to maintain the current payment amounts for administration for pre-exposure prophylaxis mAb products under Part B of either $150.50 or $250.50, depending on a products administration setting.

While the Biden administration has yet to detail plans for a full market transition for COVID-19 vaccines and therapeutics,[10] CMSs articulation of timelines for coverage of vaccines and monoclonals provides a degree of future payment clarity for these products under Medicare.

CMSs decision to cover mAb products the same as vaccines under the Part B benefit is potentially precedent setting as future prophylactic monoclonals are licensed.[11] The agencys decision to shift coverage of mAb products for treatment to ordinary biological product coverage under Part B means that patients will begin to bear out-of-pocket costs for these products once the EUA Declaration is terminated.

CMSs continued consideration of its methods for setting vaccine administration fees and intent to extend at-home administration add-ons provides opportunities for commenters to encourage policies that promote better access to vaccines for Medicare beneficiaries.

Nija Chappel, a Summer Associate (not admitted to the practice of law) in the firms Washington, DC, office, contributed to the preparation of this Insight.

[1] CMS Proposed Rule, CY 2023 Payment Policies under the Physician Fee Schedule and Other Changes to Part B Payment Policies, 87 Fed. Reg. 45860 (July 29, 2022), available at https://www.govinfo.gov/content/pkg/FR-2022-07-29/pdf/2022-14562.pdf (hereinafter CMS CY 2023 PFS Proposed Rule).

[2] CMS Fact Sheet, Calendar Year (CY) 2023 Medicare Physician Fee Schedule Proposed Rule (July 7, 2022), available at https://www.cms.gov/newsroom/fact-sheets/calendar-year-cy-2023-medicare-physician-fee-schedule-proposed-rule.

[3] CMS CY 2023 PFS Proposed Rule, supra note 1, at 46225-46226.

[4] Id. at 46218.

[5] CMS Final Rule, Medicare Program; CY 2022 Payment Policies Under the Physician Fee Schedule and Other Changes to Part B Payment Policies (Nov. 19, 2021), available at https://www.federalregister.gov/documents/2021/11/19/2021-23972/medicare-program-cy-2022-payment-policies-under-the-physician-fee-schedule-and-other-changes-to-part.

[6] CMS CY 2023 PFS Proposed Rule, supra note 1, at 46219.

[7] Id. at 46222.

[8] Id.; CMS uses this example: [I]f the COVID-19 PHE ends in CY 2022, the payment amount for COVID-19 vaccine administration would change from $40 to $30 effective January 1, 2023, and would apply the proposed geographic adjustments and the proposed annual update as proposed for the other preventive vaccine administration services . . . .

[9] Inaccessibility barriers include patients having a condition due to illness or injury that limits their ability to leave home without a device or help from a caregiver, a condition that makes the patient more likely to contract COVID-19, or the patient is generally unable to leave the home and if they do, they consider it a considerable and taxing effort. CMS CY 2023 PFS Proposed Rule, supra note 1, at 46223.

[10] See Richard Hughes, As Congress, Biden administration squabble over COVID-19 funds, an ongoing pandemic response posture strains public health, HealthCareDive (July 14, 2022), available at https://www.healthcaredive.com/news/biden-administration-covid-19-funds-oped/627105/.

[11] Sara Rosenbaum, A Twenty-First Century Vaccines for Children Program, Health Affairs (July 12, 2022), available at https://www.healthaffairs.org/content/forefront/twenty-first-century-vaccines-children-program.

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COVID-19 Vaccine and Monoclonal Coverage: A Focus of the 2023 Medicare Physician Fee Schedule Proposed Rule - JD Supra

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What South Carolina counties have the highest COVID-19 case rates within the last week? – WSPA 7News

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CHEROKEE COUNTY, S.C. (WBTW) Both urban and rural counties in South Carolina top the list for the areas with the highest rate of new COVID-19 cases, according to information updated Monday by the Centers for Disease Control and Prevention.

At the top of the list is Cherokee County, with an average of 534.03 new cases, per 100,000 people, within the last week. Following is Richland County, at 525.3 per 100,000 people.

There is an extremely large divide between the areas with the highest and lowest rates, according to the data, with the top county having more than twice the rate of the region with the least.

In South Carolina, five counties are considered to have a medium spread rate, and four are in the low range, according to the most recent data from the CDC. Every county within News13s coverage area Darlington, Dillon, Florence, Horry, Marion and Marlboro is considered to have a high case rate.

Under CDC guidance, people who live in areas rated with a medium level and who are considered at-risk are urged to wear a mask. In areas with high levels,masking is recommendedfor all people regardless of vaccination status in schools and workplaces.

CDC definitionsfor the three categories are based on new case counts within the last week, new COVID-19 hospitalizations and how many hospital beds are currently occupied by those with the virus.

The top five counties with the lowest COVID-19 case rates, per 100,000 people, are:

42. Oconee 204.91

43. McCormick 179.65

44. Greenwood 117.94

45. Abbeville 171.24

46. Saluda 117.23

The top five counties with the highest COVID-19 case rates, per 100,000 people, are:

5. Lexington 480.71

4. Chester 480.36

3. Kershaw 494.36

2. Richland 525.3

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Computational models predicting the early development of the COVID-19 pandemic in Sweden: systematic review, data synthesis, and secondary validation…

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The study was conducted as a systematic review of published literature followed by a data synthesis6,7. For this purpose, searches were carried out for scientific publications (scientifically reviewed before publication), preprints (i.e. articles of a scientific nature that are published openly without prior review) and the gray literature (i.e. reports and documents published by organizations and authorities). The study protocol is registered in the database for structured literature syntheses and meta-analyzes PROSPERO (International prospective register of systematic reviews) no. CRD42021229514 (see Supplement S1).

The literature searches were based on the search triangle model6. Systematic searches were conducted between 22 January 2021 and 29 January 2021 of databases (PubMed, Cochrane Library, Embase, Love platform/Epistemikos), containing peer-reviewed scientific publications and systematic reviews in areas relevant to the review issue, exploratory searches were performed in preprint archives, while look-up searches were performed in the gray literature. The literature searches were reported according to the PRISMA-S protocol (see Supplement S2).

The systematic search (keywords: prediction, nowcast, forecast, simulation model, model, modeling, estimation, scenario, surveillance, Epidemiology, COVID-19, SARS-cov-2, swed*) of the collegially assessed scientific literature had the goal to identify all relevant publications (within the criteria of the study) in a transparent and reproducible manner.

The explorative searches in the preprint archives were initiated by asking a preliminary question via a tool specifically designed for searches in these archives (search.biopreprint) and then reviewing the recovered records. Thereafter, the searches were repeated iteratively until adjustments no longer led to significant changes in the set of identified preprints. A separate supplementary search was performed against the two largest preprint databases bioRxiv (which also includes preprints from medRxiv) and arXiv. Finally, a search (directed search) of the gray literature was performed. The searchalso called search for known documentswas carried out with the aim of obtaining documents from the websites of relevant Swedish and international authorities active in the area: PHAS, the National Board of Health and Welfare, the Swedish Civil Contingencies Agency and the European Center for Disease Prevention and Control (ECDC). Local and regionally produced forecast data in different healthcare regions are not included in this report. These are regarded as internal working material since they are not published and not publicly available.

scientific articles that report epidemiological results regarding actual or scenario-based predictions of morbidity, mortality, or healthcare burden caused by COVID-19 in Sweden or parts of Sweden in 2020.

reports of COVID-19 modelling published by the PHAS.

non-original analyzes (e.g. reviews, perspective articles, editorials, recommendations and guidelines).

duplicate studies.

in silico studies (pure simulations without comparison with data).

descriptive epidemiological publications (e.g. description of case incidences and geographical distributions).

models that only examine the effect of interventions (rather than predicting risk or disease burden).

articles or reports that present new mathematical models or software tools, unless an explicit central purpose of the study is to predict COVID-19 phenomena.

articles or reports from which predictions could not be extracted as a time series.

articles or reports that present predictions that are adjacent to or fall completely outside of 2020.

The systematic searches in the peer-reviewed scientific literature, the exploratory searches of preprint archives and the look-up searches in the gray literature resulted in document material being examined prior to data extraction. In this inclusion-confirming step, titles and summaries of the documents obtained were reviewed against the study criteria (inclusion/exclusion) by two independent reviewers. Documents that both reviewers considered to be included were included and those that both excluded were excluded from further analysis. In case of disagreement, the articles were downloaded in full text and a new assessment was made. If the disagreement persisted, this was resolved through discussions between the reviewers and, if necessary, with the research group. For data extraction from the final set of documents, a tool for retrieving data from each article in full text was developed. The tool included data on the authors' country of origin, study design, forecast methodology (type of model), study population, data sources, forecast period, forecast results, measures of prediction accuracy/performance (if applicable) and model documentation. One reviewer initially extracted data from each included article and then two other reviewers checked the data obtained. The data extracted from the articles were documented in a spreadsheet.

All models were assessed for systematic sources of error (bias). In articles that addressed several models, each model was assessed separately. For the assessment, a form, ROBOT (Risk of Bias Opinion Tool), was developed, based on previous guidelines for evaluations of forecast studies8,22. In summary, the following topics were examined at model level: relevance and quality of data, time frame for prediction, assumptions, and model development methods (verification and validation). The assessment of assumptions included reproduction rates, latency period, incubation period, serial interval, infectious period, population immunity, and impact of interventions during the prediction period. Model validation was classified as one out of three: retrospective/internal validation, external validation, or no validation.

The assessment of systematic sources of error was performed by two independent assessors, where another assessor assisted in case of disagreement. Each sub-aspect was given a score rating in an assessment form, ROBOT, (see Supplement S3). The partial assessments were added up to a total score for each model. To qualify for further result synthesis, a total score below a heuristically defined limit value was required (ROBOT<4). Given the impact of predictions made by PHAS these were included in the result synthesis even if they failed the ROBOT cut-off.

A secondary validation of model performance was made, where reported predictions were compared with factual outcome data. The data on the forecasting variables were retrieved from published figures using WebPlotDigitizer (v. 4.4, https://apps.automeris.io/wpd/). The models in the final set addressed the total incidence of COVID-19 cases, ICU-occupancy, and incidence of COVID-19 deaths. A simultaneous evaluation of prediction accuracy that included all models was not feasible due to differences in study populations, modeled outcome, and time period. The secondary validation was therefore broken down into subgroups based on the reported outcome variables. Data on the actual outcomes on deaths and ICU-occupancy were obtained from PHAS. Regarding the total case incidence, no source for reliable outcome data was available due to the variable testing strategy employed in Sweden during 2020. When possible, the model performance was quantified by measuring the Mean Absolute Percentage Error (MAPE) between model predictions and the outcome for the entire time period covered by each separate model. We classified the performance according to the following scheme: 0%MAPE10%excellent, 10%30%poor. Based on experiences from public health practitioners during the pandemic, as well as the fact that Sweden already before the pandemic lacked healthcare resources (for instance, at average 103 patients share 100 available hospital beds9), these limits was considered reasonable. The dates when the predictions were made (models finally calibrated) were retrieved from the articles. We acknowledge that measures have been developed that avoid some of the drawbacks of MAPE (e.g. divergence for outcomes close to zero)23, but for clarity and interpretability we opted for MAPE. To determine if difference in prediction errors had statistical significance, we employed the Diedbold-Mariano test. This test requires that the predictions are made for the exact same time period, and we therefore applied the test to the intersection of all prediction dates.

Not all predictions of the total number of cases did include entire Sweden, but all included the Stockholm region. The evaluation was therefore restricted to forecasting the pandemic development in this region (population 2.3 million). In order to be able to compare predictions of the total incidence of COVID-19 cases from PHAS, we had to adjust the predictions from PHAS, which are in terms of the number of reported cases. In the reports from PHAS (e.g. 35 in Table 1), the proportion of unconfirmed cases was estimated to be 98.7%, which made it possible to rescale the predictions of reported cases by dividing those predictions by (10.987), and thus obtaining the total number of cases.

All predictions of ICU-occupancy did not include the entire country but did include the Stockholm region. Also, this evaluation was therefore restricted to the Stockholm region. While acknowledging that assumptions regarding epidemiological homogeneity introduce uncertainty, we multiplied the predictions by the proportion of the total Swedish population that lived in the Stockholm region to allow comparisons with the entire country.

We compared predictions of the number of deaths in COVID-19 during the spring of 2020. In relation to this, we also analysed how much historical data was used to calibrate the models in relation to the length of the prediction by calculating the ratio of the number of days of data used in the calibration and the length of the prediction (in days).

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Should the cryptocurrency crash scare retailers? RetailWire – RetailWire

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Aug 02, 2022

Nearly 75 percent of retailers plan to accept either cryptocurrency or stablecoin payments within the next two years, according to Deloittes Merchants Getting Ready For Crypto study.

The survey of 2,000 U.S. retail executives was taken in the first two weeks of December 2021, just before valuations on digital currencies collapsed.

According to Barrons, Bitcoin, the dominant token, continues to trade at around one-third of its November 2021 all-time high, with the market capitalization of the overall crypto space also tumbling.

Deloittes study, done in collaboration with PayPal, found retailers bullish on the digital assets potential:

Survey participants saw the top barriers to adoption to be security of the payment platforms, cited by 43 percent; followed by the changing regulatory landscape, 37 percent; and the instability of the digital currency market, 36 percent.

Cryptos crash has been dramatized by the meltdowns of stablecoin Terra, crypto hedge fund Three Arrows Capital and numerous crypto lending platforms, although risky assets overall, including tech stocks, have been battered inside the broader bear market.

Gucci, Balenciaga and Tag Heuer are among those this year joining Whole Foods, Nordstrom, PacSun and Crate & Barrel in accepting cryptocurrencies. American Eagle Outfitters drew attention for deciding not to accept crypto payments while recently launching an NFT apparel shop. Craig Brommers, American Eagles chief marketing officer, said at CommericeNext 2022, When we thought about our 15- to 25-year-old customer, the reality is they were not ready for cryptocurrency.

DISCUSSION QUESTIONS: Have you become any more or less confident about the value of cryptocurrencies as a form of retail payment since the start of the year? Have the barriers to adoption changed?

"Accepting cryptocurrency is a great business plan as long as you treat it as you would any foreign currency."

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Cryptocurrency Pioneer Jeff Garzik Launches NextCypher Productions; Focus On Emerging Technology of Web3 – Deadline

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EXCLUSIVE: Cryptocurrency pioneer Jeff Garzik has launched NextCypher Productions (NxC), a new independent entertainment company that will focus on using the emerging technology of Web3 (NFTs, crypto, blockchain applications) to empower the sci-fi community to turn fantasyinto reality.

NxC is more than just a mere production company. It is a passionate community, defined by the people and projects that it interacts with, said Garzik, who is best known as one of the pioneers of cryptocurrency, having worked on the Bitcoin Core project the first blockchain node as well as Bitcoin mining projects and the Linux operating system. One of our core principles is to enable sci-fi and fantasy fans to do more than simply consume content from the worlds we construct, but to allow them to truly participate in beloved properties in ways they never thought possible. Above all, NxC pledges to always put the needs of the audience first as we create consistently great entertainment.

As part of the launch, Garzik is announcing the companys first two television projects. The first is a one-hour action-drama series calledDeathlands thats based on the bestselling book series. Its being developed for television by showrunner/executive producer Mark A. Altman (Pandora, The Librarians, Agent X) and executive producer Thomas P. Vitale (57 Seconds, Slasher, Pandora).

Deathlands isMad Max: Fury RoadmeetsYellowjacketsin an epic post-apocalyptic sci-fi adventure, said Garzik.Deathlandstells the story of a world ravaged by violence, destruction, and death. Now, only the most smart, cunning, and capable survive as they attempt to navigate the new normal of a world turned upside in the hopes of building a new, more just society for the future.

The other project in the works is Looking Glass thats based on an original concept from Garzik. He describes it as an exciting and thought-provoking new sci-fi action/adventure series in which a young woman whose memory was erased goes on a quest to discover her true identity as agridrunnerwho must save the outcasts of society from a deadly conspiracy that threatens to destroy the future.

Looking Glassmade its premiere as a graphic novel through the NxC subsidiaryNext Cypher Words + Art. The new comic book publisher announced the first issue of theLooking Glassgraphic novel at San Diego Comic-Con last week.

NxC will be announcing its next projects soon with production on Deathlands anticipated to begin in early 2023 in Bulgaria and Looking Glass later in the year.

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Choosing the Right Cryptocurrency to Invest in – Kalkine Media

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Recently, cryptocurrencies have proven as viable option for financial investments, and is understandably becoming more and more popular. Surveys by PEW Research Center show that a staggering sixteen percent of Americans admit to having invested in cryptocurrency, with that number being even higher all around the world.

It isnt just the adult population that has embraced cryptocurrency. Statistics, according to 2022 Investopedia Financial Literacy Study, show that Gen Z is far more likely to be curious about, and invest in cryptocurrency. It isnt just Gen Z that are becoming curious about crypto. A quarter of millennial millionaires have been shown to have a huge portion of their wealth invested in cryptocurrency, with many of them also owning non-fungible tokens.

While bitcoin is undisputedly the most prominent, and high-priced cryptocurrency, there are so many more options to choose from. The number of cryptocurrencies on the current crypto market number in the thousands, with some estimating the number has reached ten thousand different cryptocurrencies. With so many different choices to pick from, how is a new investor to know where to begin? In this article we will offer a few tips for how to pick an option best suited to your needs.

Crypto Trading Site Support

One of the things that will help you pick the best option, is to look into the many crypto trading sites and the different cryptocurrencies those sites support. Most trading sites, like https://tradingplatforms.com/au/ for example, support a wide range of cryptocurrencies, with Bitcoin, Ethereum, Ripple, Litecoin, etc. being the most prominent.

Not only that, number of other benefits are also offered by these sites to the new investors.. For one, they are easy to access and use. All you need to create a profile on one of these sites is a username, password, and email. Many of the sites offer beginners an investment tutorial, and to make investment even easier, they incorporate artificial intelligence technology, the purpose of which is to read the fluctuation rates of bitcoin prices and predict future values.

Investigate the Price History

Many new investors make the mistake of seeing a trending cryptocurrency, and quickly invest in it while it is highly priced. This is the easiest decision and most common mistake to make.. It stems from stuff like fear of missing out, or a lack of patience. The problem with this approach is that it forgets to take into account the high rates of fluctuations that permeate the crypto market. A cryptocurrency that suddenly gained prominence one day, might plummet in value the other.

Rather than jumping in, let a cool head prevail, wait a few days, and most importantly investigate the price history of the cryptocurrency. Lets take Bitcoin as an example. If we look at Bitcoins price history, we can see times when it has plummeted in value, however, for the most part it has stayed highly profitable. Same is true for many of the other famous cryptocurrencies, like Ethereum.

Investigate the Best Options

As stated above, there are currently thousands of cryptocurrencies on the market. This can confuse people and overwhelm a lot of young investors. But as stated above, it is best to retain a cool head, and do some research on the best, historically proven cryptocurrencies on the current market. Let us take a look at some of the best, most trusted cryptocurrency right now.

The most popular cryptocurrency has consistently been Bitcoin. However, since there are other cryptocurrencies that are being introduced into the market, it is imperative to investigate the best option for your investment. This will influence the direction your investments will take, in a huge manner.

Look at Your Options

The success of Bitcoin led to the creation and distribution of quite a few other cryptocurrencies on the market today. So, take a look at all of them and consider your options. A few notable options are the following:

Tether is a stablecoin. This means that its value is tied to a given FIAT currency. In the case of Tether, it is the U.S. Dollar. Which means that, as long as the dollar remains stable, Tethers value will remain at US$1. Ethereum might be the second most popular blockchain today, and the Ether coin is among the most valuable. In fact, its price is exceeded only by Bitcoin. Dogecoin started out as a joke. A parody of the crypto craze. However, it soon grew into its own thing and became a hugely popular asset. Today, it ranks among the top ten most popular and recognizable cryptocurrencies in the world.

Also make sure youve explored the numerous, successful Bitcoin hard forks that have occurred over the years. Among them, the ones to keep an eye out on are Bitcoin Gold and Bitcoin Cash. They are definitely the two most popular hard forks on the market today.

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.

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The Only Cryptocurrency: What is Maximalism in Bitcoin? – Bitrates

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Bitcoin maximalists believe that Bitcoin, the world's most popular cryptocurrency, is the only digital asset that will be needed in the future.

In 2017, a year when every single altcoin was either dead or dying and everyone had lost their minds over ICOs (initial coin offerings) a new kind of fundraising mechanism for cryptocurrencies like Ethereum, Cardano, Stellar Lumens, etc. the word "maximalism" came into vogue as an insult against those who were trying to build up blockchain-based projects on top of existing blockchains.

It wasn't long before some people started using it to describe any project built upon another one, especially if they wanted to have more control over how things work. This might explain why many call Libra, Facebooks upcoming stablecoin, the first real Maximalist Project. But what does this mean exactly, and why has there been such a backlash towards it? What makes something become a maximalist project?

Maximalism can be defined both as a philosophy and a method of building software systems. It usually involves breaking down large tasks into smaller ones while keeping everything else consistent with each other. For example, instead of creating your own payment system, you could use PayPal, Venmo, AliPay, etc., all of them being different forks of Paypal but still compatible with it. If you're running a website, you don't need to write the code yourself, just buy hosting space somewhere. You can choose between multiple providers, but make sure they keep compatibility with each other. In general, anything thats not broken should stay broken. That said, maximalism isn't about doing nothing at all. Some people advocate the idea of starting small and growing big later on, perhaps by incorporating more users gradually. Others simply want to do whatever they feel like without worrying too much about other peoples opinions, even if it means sacrificing functionality. The latter group often refers to themselves as Bitcoiners since they hold strong beliefs in decentralization and freedom of choice. They also tend to think that others shouldn't be able to dictate rules of the game unless theyre willing to pay a price for it.

This attitude is best exemplified by Andreas M. Antonopoulos, better known as Mr. Money Mustache, who runs his own blog where he shares stories of personal finance triumphs along with advice on how to live frugally and save money. He once wrote an essay called Why I am a Bitcoiner, outlining the reasons behind his support for decentralized currencies. One reason stood out because it reflected the mentality of Bitcoin maximalists:

I'm a maximalist because no matter what happens, bitcoin is here forever... And I'll tell you why: Because nobody knows how it works. No government agency controls it. No powerful programmer sits around making decisions on what goes on in its core protocol. Nobody gets rich off the back-end fees. There is no central authority that says we've got to change our designs now 'cause someone wants us to.' Bitcoin doesn't care about any of that. That's very important.

So far, the term "bitcoin maximalism" seems synonymous with libertarian ideals. However, according to the Merriam-Webster dictionary, it actually comes from Satoshi Nakamoto, creator of Bitcoin, who used it to refer to himself. Also be sure to signup for free bitcoin cashback rewards.

So is Mr. Money Mustache really a bitcoiner then? Not quite. Although he believes that Bitcoin needs to remain true to itself and never compromise, he thinks it would serve society well if governments eventually get involved in regulating the industry. In fact, he writes three times on his blog that he supports the regulation of crypto trading platforms. Moreover, he acknowledges that many people consider him a traitor because of this position. Nevertheless, he stands firm that Bitcoin should be free, private, open source, and permissionless. He may not agree with certain regulations, but he feels strongly enough about these principles that he calls himself a realistic idealist.

Bitcoiners generally disagree with this sentiment, believing that a multitude of assets beyond bitcoins exist today. While this may sound strange coming from libertarians, it's worth noting that many economists subscribe to Austrian School economics, which promotes market efficiency through competition among competing firms. Therefore, they argue that although commodities like gold exist, fiat currency is the only truly valuable thing in the economy.

One prominent proponent of this school of thought is Nouriel Roubini, professor emeritus at New York University Stern School of Business, former senior advisor to U.S. Treasury Secretary Steven Mnuchin, author of books Crisis Economics and Global Financial Meltdown, founder of Roubini Macro Associates LLC, and host of CNBC show Street Smart. On Twitter, he describes himself as a realistic optimist. When asked whether Bitcoin will die soon, he replies: No, but it wont survive long.

To understand why he holds such views, lets take a look at a few tweets from his timeline.

Heres one from February 2018 titled How did Blockstream manage to destroy Bitcoin? And heres another from April 2019. Titled Crypto Mania Is Coming To An End, the tweet claims that Bitcoin will eventually crash due to various factors, including increased adoption rates, increased supply, speculative bubbles, and rising interest costs.

Many experts say that Roubini has good intentions to help educate the public about financial matters, but his extreme positions sometimes cause confusion. After all, many people find his statements hard to digest given his background as a respected economist. So what gives? Why does he seem so adamant about supporting Bitcoin despite numerous criticisms against it? There are several explanations. First of all, like anyone who builds products based on technology, Roubini recognizes that Bitcoins underlying design may fail someday. Instead of throwing away the baby with the bathwater, he prefers to fix problems early rather than wait until they grow worse. Second, he tries to avoid getting emotionally attached to specific technologies because human emotions aren't rational. Since Bitcoin is currently experiencing rapid growth, he must see its potential in order to justify investing time and resources in research. Lastly, he thinks that people should focus less on short-term gains and start focusing more on long-term value creation. With this mindset, regardless of how Bitcoin performs right now, he believes that it will continue gaining traction in years to come. Good recordkeeping and cryptocurrency accounting will also help you along the way.

As stated earlier, not everyone agrees with Roubinis viewpoint. Many claim that he takes overly pessimistic stances and fails to acknowledge promising advancements made in areas such as privacy, scalability, speed, security, and governance. Furthermore, proponents point out that unlike traditional currencies backed by physical commodity reserves, Bitcoin cannot easily be printed overnight via fractional reserve lending. Even though this practice allows banks to inflate liabilities, it ultimately leads to the devaluation of the currency. Thus, Bitcoin is infinitely scarce and cannot lose value quickly or dramatically. Finally, Bitcoiners assert that it took decades for legacy institutions to create systemic risk following the Great Depression and the 2008 global recession. Given that Bitcoin has existed for roughly 10 years already, it's unlikely that regulators will ever try to ban it.

While many view Roubini as a hero or a villain depending on whom you ask, theres no denying that he has helped shape mainstream conversations surrounding monetary policies and emerging technological trends. His predictions have proven accurate in some cases, e.g., during the last global financial crisis. At the same time, his arguments havent always resonated with people across ideological boundaries.

Perhaps one day, Bitcoiners will finally realize that Roubini is not infallible. Perhaps theyll embrace his message that we should treat cryptocurrencies rationally and cautiously, considering all possible outcomes. Or maybe Bitcoiners will decide that the way forward lies in abandoning radical ideologies altogether and embracing gradual progress with the rest of society. Whatever path Bitcoiners choose next, history tells us they wont go gently into that good night.

Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.

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Five Cryptocurrency Tax Tips That Will Make Your Accountant Sing – Bloomberg Tax

Posted: at 3:49 pm

At its best, crypto taxes are easier said than done, especially as the ecosystem and use cases evolve. Four years ago, decentralized finance was barely a thing. Now, seasoned DeFi traders are moving their assets from Layer 1 to Layer 2 protocols, liquid staking, yield farming, moving assets between different blockchains, and more. The DeFi ecosystem has about $68 billion in total value locked.

Those who are holding and dollar cost averaging as they add to their portfolios during periods of volatility arent free from ridicule or non-fungible token collectorsespecially the latter. It is extremely difficult to price NFTs accurately.

Every single transaction has accounting and tax implications. Do you know how hard it is to track cost basis across hundreds, if not thousands, of daily transactions? And thats on the individual level. Ive seen organizations that make millions of transactions per month.

If we think about the current crypto winter in which we find ourselves, where prices can fluctuate 10% or more in a given day, well, lets just say that Im getting a headache typing out all the variables that must be accounted for during tax season. The good news is that with a little preparation and understanding of the basics, we can do better. Lets show our accountants a little love by making their lives easier next tax season.

Here are five crypto tax best practices to have your accountant singing your praises:

Sorry folks, but you cant ignore recordkeeping on the blockchain. Many people think of the blockchain as this all-seeing, self-documenting technology. And in some respects, it is. But blockchains arent like bank statements that clearly record detailed information such as vendor and payee, or, in some cases, a short description of the sold item.

In practice, blockchains are essentially a permanent record of letters and numbers that can be examined through a block explorer like Etherscan, but the information isnt people-friendly.

Copying and pasting this information blindly into a spreadsheet and emailing it to your accountant is like asking them to solve a Da Vinci Code-style mystery.

Using multiple exchanges introduces unnecessary complications for your accountant come tax season. The more pricing sources youre pulling from, the bigger the headache for your accountant. This is for two reasons. First, every exchange outputs its data in a different format, which increases the likelihood of errors when your accountant combines CSVs. Second, this is an incredibly time-consuming, manual task that increases your billable hours. Its a lose-lose situation for everyone involved.

Good wallet hygiene is essential for sophisticated traders and regular folks alike because it helps accountants understand transactions from a workflow perspective as they process them.

Although it might seem that holding all your digital assets in one location is best, thats not necessarily true. Always keep transaction-specific walletssuch as investments, DeFi transactions, and revenueand use a consistent naming system. If you are a miner, keep a separate wallet to hold mining rewards. If you make NFTs, keep a separate wallet for secondary royalties, and so on.

With tracking activity between and across disparate exchanges, blockchains, and wallets, and then accurately reporting those activities to your accountant, accounting can turn complicated very quickly. Talking to your accountant early and often can help mitigate this and ensure you both are always aligned.

Were all familiar with the saying, The only certainties in life are death and taxes. But thats not really the case with crypto taxes until we finally get clarity from regulators.

My final piece of advice would be to eliminate as much uncertainty in this process as possible by using software to automate and streamline as many of these processes as you can. Fortunately, there are many solutions that integrate directly with digital wallets and accounting softwareyou just have to find the solution that works best for you.

This article does not necessarily reflect the opinion of The Bureau of National Affairs, Inc., the publisher of Bloomberg Law and Bloomberg Tax, or its owners.

Pat White is the CEO and co-founder of Bitwave, a software platform that provides cryptocurrency accounting, tax tracking, bookkeeping, DeFi ROI monitoring, and crypto AR/AP services for enterprise businesses.

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Asia Broadband Adds Cryptocurrency and Blockchain Expert to Development Team to Accelerate AABB Exchange Operations – GlobeNewswire

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LAS VEGAS, Aug. 02, 2022 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (AABB or the Company) is pleased to announce that the Company has retained a cryptocurrency, blockchain and cybersecurity expert to enhance the architecture, functionality and management of the AABB Exchange to expedite the achievement of operational milestones. The extensive project management experience specific to blockchain platforms and networks now added to the Companys digital asset development group is expected to enhance the Exchange operations significantly. Several analysis and assessment reports have already been completed to facilitate the plan and execution of Exchange efficiencies and advancements.

We are elated with the progress that our Exchange group has realized already by the additional expertise and leadership now in place. Our Exchange operations are advancing rapidly to achieve our core objectives of a robust, efficient and user-focused Exchange with premier security for our users and token holders, asserted Chris Torres, AABB President and CEO.

In conjunction with the Exchange developments, the Company recently launched a preliminary advertisement campaign for the AABBG gold-backed token and the AABB Exchange at the Los Angeles Airport (LAX). The Company has plans to expand this marketing and advertising program as the Exchange enhancements roll-out.

Through the AABBG token and AABB Exchange, the Company embraces a pioneering philosophy with its truly unique Mine-to-Token vertical integration operational approach that strives toward complete independence from FIAT currency.

About Asia Broadband

Asia Broadband Inc. (OTC: AABB) is a resource company focused on the production, supply and sale of precious and base metals, primarily to Asian markets. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate its innovative distribution process from the production and supply of precious and base metals in Mexico to client sales networks in Asia. This vertical integration approach to sales transactions is the unique strength of AABB that differentiates the Company and creates distinctive value for shareholders. Additionally, the Company has added a digital assets business segment and released its AABBG freshly minted mine-to-token gold-backed cryptocurrency within its AABB Wallet and a proprietary digital exchange AABBExchange. AABB expects its token to become a world-wide standard of exchange that is stable, secured and trusted with gold backing, while having the added benefit of demand based price appreciation. These are unique and outstanding qualities relative to other cryptocurrencies.

Contact the Company at:

Forward-Looking Statementsare contained in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Asia Broadband Inc.s (the Company) expected current beliefs about the Companys business, which are subject to uncertainty and change. The operations and results of the Company could materially differ from what is expressed or implied by the statements made above when industry, regulatory, market and competitive circumstances change. Further information about these risks can be found in the annual and quarterly disclosures the Company has published on the OTC Markets website. The Company is under no obligation to update or alter its forward-looking statements as future circumstances, events and information may change.

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