Good monday morning welcome to squawk squawk im jon fortt with Carl Quintanilla and julia. Were in the final stretch of 2020 were focused on two big ipos, airbnb and doordash. Airbnb is bouncing back strong doordash saw demands surge both of those companies seeing encouraging demand for shares and to define the future of the gig and sharing economies. Leslie picker has the latest on the ipo process. Its important to underscore the rarety of this level of issuance in a single week. Excluding spacs, were expecting to see more than 7 billion worth of ipos this week. Since the start of 2014, only three other weeks have surpassed that kind of volume. Most recently, in mid september there was, if you remember, there was a big week of software debuts unity, jay frog went public. The only week thats saw greater issuance was in may of 2019 when uber went public and then september 2014 when alibaba went public what is different this time, though, is that the billions of dollars in new stock is c
Hints that in fact there could be a military aspect to this program. The fact that assuage International Concerns about possible military uses of technology that the iranians have been developing ask they have been sending inspection teams in 20 check up on all aspects of the program. China and germany is the plus one. A big group on our side. Their issues have to do with really trying to get a handle on these big visible signs that iran may be heading towards a military program. I talked about enrichment capacity and trying to get the enrichment capacity shrunk way down and looking at the heavy water reactor that they have been using to produce Nuclear Weapons. Lots of questions of those kinds. Its not a negotiation im in charge of, but it has been run by sec ter kerry has wrestled with the negotiation. And there a lot of heavy hitters trying to get progress. The big of heavy lifting is on the political side. Will they take the political decisions to bring the negotiation home. We wil
So to give you a sense of why that really diminishes the incentives, if you think about an aco increasing spending during a Contract Period, medicare shared savings program, aco for example that isnt facing any Downside Risk, they are penalized for doing that. And it increases their benchmark for the following Contract Period and then they can receive a shared savings bonus for doing nothing. Under the pioneer program, they are penalized for doing more, but again theres that offsetting effect by the benchmark going up and the subsequent Contract Period, so for pioneer acos the incentives are more akin to fee for service with a lag. Then, thinking about the fixed costs of investing in systems to actually control spending, the rebasing is that much more of a problem because it may be hard for acos to recoup their investments of investing in the right systems. So that is one challenge. And i know sean and his team is working hard on a revamped proposed rule for the shared savings program.
We were able to cut down readmission rate dramatically and our emergency room rate dramatically. The only thing that went up in our database was primary care visits. Once again, not necessarily perfection but i think as a Clinical Study it was shown to be effective. And once again the reimbursement and the savings bears out that case. We also initiated some relatively interesting demonstration projects. We identified our congestive Heart Failure patients who were having problems with frequent readmissions. We did something very simple. We put scales in their house that automatically sent their weights directly to the doctors Electronic Medical records. Not a very expensive proposition. As soon as it was greater than a one pound change in the patients they got a phone call to find out what had changed and whether or not they were being noncompliant with either medication or diet or what changes had occurred. And in patients who routinely would have four or five hospital admissions in a