Finances


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    Illustration: Xavier Lalanne-Tauzia for Industry Dive

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    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
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    9dreamstudio via Getty Images
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    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
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    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
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    Medicaid redeterminations

    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
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    Asher Heimermann. Retrieved from Wikimedia Commons.
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    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 May 31, 2023
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    The image by Jeffrey Beall is licensed under CC BY-SA 3.0
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    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 May 31, 2023
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    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 May 30, 2023
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    lucky-photographer via Getty Images
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    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 May 30, 2023
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    Opinion

    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
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    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 May 26, 2023
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    Daphne Howland/Healthcare Dive
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    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
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    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
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    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
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    Adeline Kon/Healthcare Dive/Healthcare Dive
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    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 May 23, 2023
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    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
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    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
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    Illustration: Xavier Lalanne-Tauzia for Industry Dive

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    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
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    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 May 16, 2023
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    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 May 15, 2023
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    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
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    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
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    Courtesy of Oscar Health
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    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 May 10, 2023
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    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 May 10, 2023
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    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
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    Illustration: Xavier Lalanne-Tauzia for Industry Dive

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    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 May 8, 2023