Finances: Page 12
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Steward to close two Ohio hospitals, Pennsylvania facility at risk
The closures are a “tragic result of greed-driven hospital executives, backed by private equity, who prioritize their yachts and private jets over patient care,” said an Ohio nurse union leader.
By Rebecca Pifer Parduhn • Aug. 23, 2024 -
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Large employers forecast 7.8% hike in health costs next year, thanks to rising pharmacy spend
The growing burden of pharmaceuticals is expected to be the primary driver of higher healthcare spending in 2025, mostly due to expensive GLP-1 drugs in demand for weight loss, according to the Business Group on Health.
By Rebecca Pifer Parduhn • Updated Aug. 21, 2024 -
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Judge strikes down FTC noncompete ban nationwide
Obviating the ban has big implications for U.S. healthcare, an industry that frequently relies on noncompetes to lock medical workers into employment agreements with hospitals, insurers and other employers.
By Ryan Golden , Rebecca Pifer Parduhn • Aug. 21, 2024 -
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Humana pays $90M to settle whistleblower allegations of Medicare Part D fraud
The insurer, which did not admit wrongdoing, agreed to the deal on the eve of a jury trial.
By Rebecca Pifer Parduhn • Aug. 20, 2024 -
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Healthcare bankruptcies slow after reaching five-year high in 2023: report
The decline doesn’t mean the sector’s financial challenges have gone away. Case volumes could increase later this year, according to healthcare restructuring advisory firm Gibbins Advisors.
By Emily Olsen • Aug. 19, 2024 -
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Deep DiveMedicaid overtakes Medicare Advantage as health insurers’ bogeyman in Q2
Despite challenges in Medicaid and MA, major insurers still posted large earnings in the second quarter — many helped by health services divisions.
By Rebecca Pifer Parduhn • Aug. 15, 2024 -
Illustration: Xavier Lalanne-Tauzia for Industry Dive
Kaiser’s operating margin rises to 3.1% in second quarter
The nonprofit healthcare giant's results represent a strong quarter and a solid end to the first half of the year, one analyst said.
By Susanna Vogel • Aug. 13, 2024 -
Illustration: Xavier Lalanne-Tauzia for Industry Dive
For-profit health systems see Medicaid supplemental payment bump in Q2
However, hospital executives said the uptick in supplemental funding still wasn’t enough to cover their costs.
By Susanna Vogel • Aug. 12, 2024 -
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Nonprofits’ cash on hand hit 10-year low in 2023: report
S&P Global also found no "meaningful" improvement in cash flow for providers between 2022 and 2023.
By Susanna Vogel • Aug. 12, 2024 -
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After decline, private equity investment in healthcare reaches turning point: PitchBook
Private equity dealmaking fell more than 16% in the second quarter, but the market is showing signs of a turnaround, according to the market research firm.
By Emily Olsen • Aug. 9, 2024 -
Courtesy of Walgreens
Walgreens considering full sale of VillageMD
The decision, disclosed Wednesday in a securities filing, is a sharp reversal to the pharmacy behemoth’s past commitment to building out its healthcare delivery offerings.
By Rebecca Pifer Parduhn • Aug. 8, 2024 -
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Aetna executive ousted as CVS’ Medicare Advantage woes drag into second quarter
On Wednesday, CVS slashed its earnings guidance for the third time this year, announced a plan to cut $2 billion in costs and fired the head of its insurance division Aetna, which continues to struggle with high medical utilization.
By Rebecca Pifer Parduhn • Aug. 7, 2024 -
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More than 700 rural hospitals at risk of closing: report
One challenge hospitals face is reimbursement from private payers, which doesn’t cover the higher costs of care in rural areas, according to a report by the Center for Healthcare Quality and Payment Reform.
By Emily Olsen • Aug. 7, 2024 -
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Tenet to sell majority stake in 5 Alabama hospitals for $910M
The health system has divested a string of hospitals this year as it seeks to pay down debt and refocus its portfolio on ambulatory surgery centers.
By Susanna Vogel • Aug. 6, 2024 -
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Walgreens further reduces stake in Cencora for $1.1B
The struggling drugstore chain has been chipping away at its stake in Cencora, formerly known as AmerisourceBergen, since last summer.
By Rebecca Pifer Parduhn • Aug. 5, 2024 -
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Medicare finalizes higher 2.9% inpatient payment rate for 2025
Hospitals still weren’t happy with the final rule despite the bump from the CMS’ proposed rates, citing cuts to long-term and disproportionate share facilities.
By Rebecca Pifer Parduhn • Aug. 2, 2024 -
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Cigna CEO promises ‘aggressive’ defense of pharmacy benefit managers
David Cordani’s comments to investors Thursday come as the payer blew past Wall Street’s expectations for the second quarter, helped by significant growth in its health services division — including PBM Express Scripts.
By Rebecca Pifer Parduhn • Aug. 1, 2024 -
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Tracking Steward's declineJudge approves Steward’s plan to close 2 hospitals by month’s end
Steward also provided an update on increasingly tense negotiations with its landlord about how to distribute proceeds from sales.
By Susanna Vogel • Aug. 1, 2024 -
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Humana expects to lose ‘few hundred thousand’ Medicare Advantage members next year
The insurer shrank its plan footprint for 2025 in a bid to improve margins. Now, Humana is giving market watchers loose guidance into how that reduction could affect its enrollment along with second quarter results.
By Rebecca Pifer Parduhn • July 31, 2024 -
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Google cuts ties with Amazon’s One Medical
Loss of the contract is a major setback for One Medical, as Google made up roughly 10% of the company’s revenue before it was acquired by Amazon and stopped disclosing financial results.
By Rebecca Pifer Parduhn • Updated July 31, 2024 -
Illustration: Xavier Lalanne-Tauzia for Industry Dive
CHS trims losses in second quarter
The health system posted a $13 million net loss, even as surgical and outpatient volumes climbed.
By Susanna Vogel • July 29, 2024 -
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Growth in ACA plans keeps Medicaid giant Centene from worst of redeterminations impact
Centene continued to deal with a mismatch between Medicaid rates and patient acuity in the second quarter, but still exceeded Wall Street’s expectations thanks to Affordable Care Act growth.
By Rebecca Pifer Parduhn • July 26, 2024 -
Illustration: Xavier Lalanne-Tauzia for Industry Dive
UHS says demand for services ‘moderating’ at acute hospitals in Q2
The health system reported a net income of $289.2 million in the second quarter, but relatively flat patient volume growth sparked analyst concerns during an earnings call Thursday.
By Susanna Vogel • July 25, 2024 -
Illustration: Xavier Lalanne-Tauzia for Industry Dive
Tenet raises full-year earnings guidance again
Tenet has an emerging “beat and raise” track record on Wall Street, analysts said.
By Susanna Vogel • July 25, 2024 -
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Molina’s Medicaid growth offsets worst of redeterminations pressures in Q2
The California-based insurer also outlined how it remains acquisitive, despite recently sharing plans to purchase ConnectiCare.
By Rebecca Pifer Parduhn • July 25, 2024
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