Finance

Provider finance execs bracing for unfavorable shift in payer mix, survey finds

About 70% of CFOs and revenue cycle leaders are readying for a drop in commercially insured patients — a highly prized cohort for providers and health systems.

By Samantha Liss • Sept. 30, 2020

Digital health poised for record Q3, with fast growth in mental, women's health investment

As COVID-19 continues to spur interest, funding in the sector could bypass $8 billion by the third quarter's close this week. That would be up from $5.8 billion in the second, according to experts at CB Insights' conference.

By Rebecca Pifer • Sept. 29, 2020

HHS says nearly $106B in CARES aid has been distributed to providers

Health systems are concerned, however, that new reporting guidelines issued by HHS could stanch the flow of money in the near future.

By Ron Shinkman • Sept. 28, 2020

Hospital COVID-19 recovery stalled in August, Kaufman Hall says

The snapshot of provider finances found emergency departments faced particularly drastic declines.

By Shannon Muchmore • Sept. 25, 2020

Most of healthcare industry in V-shaped recovery from COVID-19, S&P says

Some sub-sectors have actually experienced a net gain during the pandemic — diagnostics, lab testing and life sciences among them. The ratings agency predicts a full recovery for those areas by the end of the year.

By Ron Shinkman • Sept. 21, 2020

Hospitals charge privately insured patients 250% more than those on Medicare. The gap is growing.

A RAND study of charge data from more than 3,000 hospitals points the finger at growing provider consolidation as a key culprit, but the AHA slammed the report as "based on a cherry-picked and limited dataset."

By Ron Shinkman • Sept. 18, 2020

Ascension posts $1B net loss for 2020

By the final month of its fiscal year, the giant nonprofit was staring to recapture a larger share of its patients — and outpacing pre-pandemic levels in one instance. 

By Samantha Liss • Sept. 18, 2020

'We feel bullish': Payers look ahead to 2021

Top execs at the biggest commercial insurers outlined shifting strategic priorities and growth opportunities in light of the COVID-19 recession at Morgan Stanley's annual healthcare conference last week.

By Rebecca Pifer • Sept. 17, 2020

Google-backed Amwell prices upsize IPO above range at $18

Before its NYSE debut on Thursday, Amwell increased the price and number of shares, locking in the Boston-based telehealth vendor's valuation at nearly $4.1 billion.

By Rebecca Pifer • Sept. 17, 2020

Medical services costs for telehealth could swell to $106B by 2023, vendor predicts

Doximity's report estimates about 20% of all medical visits will be conducted virtually this year, and found particular interest in virtual care from the chronically ill population.

By Rebecca Pifer • Sept. 17, 2020

OIG says $2.6B paid out under MA risk adjustment with scant encounter data

The watchdog's analysis also found health risk assessments were taking place at a patient's home, and were often conducted by providers contracted by the health plan instead of their actual physician.

By Ron Shinkman • Sept. 11, 2020

Employers struggling to calculate 2021 medical cost trends due to COVID-19: Credit Suisse

A survey run by the financial services firm found 60% of employers are trying to adjust 2020 claims data to normalize for the pandemic's effects while calculating expected medical cost trend next year.

By Rebecca Pifer • Sept. 11, 2020

West Virginia hospital to pay $50M to settle False Claims Act violations

DOJ alleges Wheeling Hospital paid physicians well above market value for referring patients to the facility — in some cases over $1 million a year — from 2007 to 2020, defrauding Medicare of tens of millions of dollars.

By Rebecca Pifer • Sept. 10, 2020

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Equip your sales organization to deal with the current near-term uncertainties and be best positioned for success in the long term.

By Jeff Traenkner • Sept. 10, 2020

Hospitals urge HHS to step in on 340B fight with drug manufacturers

On Friday, more than 1,100 hospitals sent another letter to HHS urging it to take action against drug manufacturers limiting drug distribution to 340B facilities.

By Shannon Muchmore • UPDATED: Sept. 11, 2020 at 10:01 a.m.

Federal COVID-19 cash saved most hospitals from bleakest forecasts: MedPAC

But any new congressional relief is stalled in Congress, and an HCA official warned cost-cutting initiatives that helped operators aren't sustainable.

By Rebecca Pifer • Sept. 04, 2020

Here's how nonprofit hospitals weathered the first half of 2020

"In the absence of stimulus relief and rebounding elective procedural volumes, the sector would have taken a considerable shock to all key financial metrics," Fitch Ratings said.

Northwell says COVID-19 has inflicted $1.2B hit to date

The New York-area nonprofit hospital system posted a year-over-year deficit of $250 million for the first half of 2020, as operating expenses rose 9.5%.

By Ron Shinkman • Aug. 31, 2020

Investment returns boost Cleveland Clinic into the black despite weak Q2 revenue

Like many other major operators, Cleveland Clinic also benefited from millions in government assistance, including $324 million in CARES relief grants.

By Rebecca Pifer • Aug. 31, 2020

Investment losses, flagging volume push UPMC into the red in H1

The Pittsburgh-based nonprofit reported a loss of $165 million, down from a profit of $372 million the same time last year.

By Rebecca Pifer • Aug. 27, 2020

Amwell files IPO with $100M boost from Google

Amwell, one of the country's biggest telehealth companies, will become Google Cloud's preferred telehealth platform as part of the multiyear partnership.

By Rebecca Pifer • Aug. 25, 2020

Advocate Aurora profit inches up in Q2 as investment income bounces back

The Illinois-based nonprofit, which is currently exploring a merger with Michigan's largest health system, still saw its operating margin plummet from 5.7% to -6.8% in the quarter.

By Shannon Muchmore • Aug. 25, 2020

Mayo Clinic Q2 profit plummets under COVID-19 strain, but still in the black

The pandemic led the nonprofit system to cut its supplemental and contract workforce, halt most of its construction projects and reduce staff salaries.

By Ron Shinkman • Aug. 21, 2020

Sutter posts $857M loss in H1 on investment, operational declines

Sutter joins other major nonprofit health systems in posting net losses for the first half of the year despite $400 million in financial assistance from the federal government.

By Samantha Liss • Aug. 21, 2020

Providence $538M loss shows pandemic woes trump bailout funds in H1

Unlike some other major hospital systems buoyed by federal funds, including Kaiser and the biggest for-profits, expenses and volume depression threw the Washington state system's financials into the red.

By Samantha Liss • Aug. 18, 2020