BJC HealthCare, Saint Luke’s Health System plan to merge, forming $10B system

The organizations signed a non-binding agreement to form a 28-hospital system serving patients in Missouri, Kansas and Illinois.

By Emily Olsen • June 1, 2023

Healthcare costs top $31,000 for family of 4 in 2023

After declining briefly in 2020, family healthcare costs are rising as the industry faces an uncertain macroeconomic environment.

By Emily Olsen • June 1, 2023

Explore the Trendline➔

The Healthcare Dive Outlook on 2023

COVID-19 will continue to be a key presense in 2023, as the public health emergency is slated to end in May, sparking a major transition for the industry.

By Healthcare Dive staff

Medicaid changes, end of COVID emergency hampered hospital margins in April

Inflation and high expenses are placing a burden on hospitals as they recover from COVID-19 challenges. Hospital labor expenses rose 3% in April from March, according to Kaufman Hall.

By Brian T. Horowitz • June 1, 2023

Advocate Health reports 0.1% operating margin in inaugural Q1 earnings

The nonprofit giant formed in December barely made it into the black, after revenue of $7.54 billion squeaked past expenses of $7.53 billion.

By Rebecca Pifer • May 31, 2023

Kaiser pledges $10M to safety-net hospital to stem ‘unprecedented financial challenges’

Denver Health — the largest provider of care for uninsured people in the city — has struggled with rising costs and a surge in sicker patients.

By Sydney Halleman • May 31, 2023

Persistent expenses drove Ascension to $1.8B operating loss

Improving volumes, especially outpatient surgeries and emergency room visits, failed to outpace growing expenses in the nine-month period.

By Sydney Halleman • May 30, 2023

Healthcare provisions of the debt limit deal: COVID-19 funding clawbacks, no Medicaid work requirements

Congressional Republicans and the White House reached a deal over the weekend to raise the debt ceiling that includes healthcare policy wins for both sides of the aisle.

By Rebecca Pifer • May 30, 2023

Securing mergers and acquisitions in healthcare

Netskope’s Damian Chung outlines how healthcare organizations can avoid cyber risks when executing acquisitions or partnerships.

By Damian Chung • May 26, 2023

CVS could lose up to $1B next year from MA star ratings drop

Just 21% of CVS’ MA members are currently in plans with a star rating of at least four, down from 87% at the end of 2021, the payer disclosed.

By Rebecca Pifer • May 26, 2023

Walgreens laying off 10% of corporate workforce

The cuts, affecting more than 500 employees, come as the pharmacy chain expands in consumer-focused care delivery.

By Emily Olsen • May 26, 2023

Cleveland Clinic outpaced expense growth to return to profitability in Q1

The health system noted that growing expenses are still a concern, with labor costs like overtime increasing.

By Emily Olsen • May 25, 2023

Digital health funding holds steady in Q1 after year of decline

The sector defied trends seen in the larger venture capital market, where funding continues to fall. But investment is still at years-low levels.

By Emily Olsen • May 24, 2023

Providence narrowed losses as patient volumes increased

The Renton, Washington-based health system said inflation, labor shortages, delayed reimbursement from payers and supply chain problems are still affecting its bottom line, but its financial outlook is improving.

By Emily Olsen • May 23, 2023

Pharma-backed report targets federal clinics for benefiting financially from 340B drug discounts

Those grantees on average are reimbursed almost four times more for 340B prescription drugs than what they pay, and make billions in 340B drug margin, according to the report, which was funded by Gilead Sciences.

By Rebecca Pifer • May 23, 2023

Intermountain posts $549M profit after revenue grew in Q1

The health system’s expenses, though, climbed 44% to $3.7 billion, with a large portion coming from employee compensation and benefits.

By Emily Olsen • May 23, 2023

Mayo Clinic grew profits in Q1, despite rising expenses

The Rochester, Minnesota-based academic medical system reported increased admissions and revenue in the first quarter. Operating expenses also grew, largely due to salary and benefit costs.

By Emily Olsen • May 19, 2023

HCA to acquire 41 urgent care clinics in Texas

The purchase, which includes clinics in Dallas, Austin, San Antonio, Houston and El Paso, will boost the for-profit health system’s urgent care footprint.

By Emily Olsen • May 19, 2023

CommonSpirit’s operating losses swell, sparking job cuts

Better investment returns due to a rebound in the financial markets helped mitigate CommonSpirit’s net loss, which reached $231 million in the quarter.

By Rebecca Pifer • May 16, 2023

Envision Healthcare files for Chapter 11 bankruptcy

The physician staffing firm suffered from declining profits amid hurdles from the COVID-19 pandemic, prolonged legal battles with health insurers over reimbursement, and regulatory crackdowns on surprise billing.

By Sydney Halleman • May 15, 2023

Cano divesting non-core assets to bolster cash flow, CEO says

The primary care provider, which has been embroiled in a boardroom fight, is focused on improving profitability in its core Medicare Advantage business.

By Susan Kelly • May 11, 2023

Bright Health affirms intention to sell California MA plans as it reports Q1 results

By selling its Brand New Day and Central Health MA plans, Bright Health, which would no longer be in the insurance business following the sale, intends to focus on its consumer care products, CFO Cathy Smith said.

By Brian T. Horowitz • May 10, 2023

Oscar Health will exit from California

The insurer plans to exit the state this year after consistently recording medical loss ratios over 100%, executives said on an earnings call.

By Sydney Halleman • May 10, 2023

Envision Healthcare planning Chapter 11 bankruptcy filing, WSJ reports

The potential filing comes after Envision has struggled in recent years, including in legal battles with UnitedHealthcare.

By Sydney Halleman • May 10, 2023

Premier explores strategic alternatives, including a sale

The group purchasing organization lowered its revenue outlook last week due to softer demand from its customers amid excess inventory levels.

By Susan Kelly • May 9, 2023

Kaiser posts $1.2B in Q1 net profit after $961M net loss in prior-year quarter

The first-quarter report comes weeks after the operator announced its plans to acquire Geisinger Health and form a new nonprofit with the purpose of acquiring and operating other nonprofit systems.

By Sydney Halleman • May 8, 2023