Ascension posts $2.7B net loss in fiscal year 2023, driven by rising expenses

Like other nonprofits, Ascension continued to feel the strain of inflationary pressures as expense growth outpaced modest gains in revenue.

By Susanna Vogel • Sept. 18, 2023

BCBSA finds wide variety in medical cost by site

Researchers said their data supports site-neutral proposals to make care cost the same regardless of where it’s provided. Momentum is building in Congress around the policies, but they face fierce opposition from hospitals.

By Rebecca Pifer • Sept. 14, 2023

CVS CEO ‘optimistic’ payer will improve MA star ratings

At Morgan Stanley’s healthcare conference on Tuesday, Karen Lynch also called into question the $500 million in savings Blue Shield of California expects from kicking CVS’ pharmacy benefit manager to the curb.

By Rebecca Pifer • Sept. 13, 2023

Employers expect health benefit costs to climb 5.4% in 2024

High inflation, labor shortages and industry consolidation contributed to the projected increase, according to a new survey of employers from consultancy Mercer.

By Brian T. Horowitz • Sept. 11, 2023

Medical credit cards ‘exploit loopholes’ in healthcare debt protection, report finds

The credit cards, which can promise patients deceptive no- or low-interest rates, are increasingly being offered in hospitals and physician offices.

By Sydney Halleman • Sept. 8, 2023

Intermountain’s operating income fell 35% in H1 as system battles rising expenses

The nonprofit reported continued cost pressures in the first half of the year, including an increase in labor and supply expenses.

By Susanna Vogel • Sept. 6, 2023

Thoma Bravo closes $1.8B deal to take NextGen Healthcare private

The private equity firm announced on Friday it closed its acquisition of the electronic health record vendor, giving Thoma Bravo a foothold in the EHR market.

By Sydney Halleman • Updated Nov. 10, 2023

Patients ‘steered’ toward health systems, more costly treatment after vertical consolidation, study finds

Consolidation between primary care physicians and large health systems led to increased costs per patient, according to a new study published in JAMA.

By Susanna Vogel • Sept. 5, 2023

‘We’re in the 1999 of the internet era’: a16z’s Julie Yoo on fintech’s potential and the digital health market

Yoo, who leads health tech investment at venture capital firm Andreessen Horowitz, outlined her fintech investment thesis and why the healthcare industry is at an inflection point for adoption.

By Rebecca Pifer • Aug. 31, 2023

Advocate Health in black in first H1 as combined system

The nonprofit hospital operator, which formed last year through the merger of Advocate Aurora Health and Atrium Health, reported an improved 0.6% operating margin.

By Susanna Vogel • Updated Aug. 30, 2023

Private equity firm in advanced talks to buy NextGen, report says

Thoma Bravo could announce a deal to acquire the electronic health record vendor as soon as this week, according to a Bloomberg report.

By Sydney Halleman • Updated Sept. 5, 2023

Large employers predict pharmacy spend, mental health needs will continue to rise

“The road ahead for prescription drug and pharmacy looks quite daunting,” said the CEO of the Business Group on Health following a recent survey.

By Rebecca Pifer • Aug. 23, 2023

Pandemic relief funds bolstered operating margins at vulnerable hospitals, Health Affairs finds

The funds have come under scrutiny, with some reports suggesting that high-performing hospitals capitalized on them to post record operating margins.

By Susanna Vogel • Aug. 23, 2023

Veradigm receives notice of delisting from Nasdaq

The health IT company, which is facing delisting after failing to file financial paperwork on time, plans to appeal the decision.

By Rebecca Pifer • Updated Sept. 25, 2023

CVS layoffs hit Rhode Island, Connecticut, New York and more

The layoffs disclosed late last week to state labor departments include 770 employees in CVS’ Rhode Island headquarters, and about 520 workers at health insurer Aetna’s Connecticut hub.

By Rebecca Pifer • Aug. 21, 2023

Babylon sells UK business as digital health company winds down operations

Babylon sold nearly all its U.K. assets to a U.S.-based company and appointed an administrator last week, after a take-private deal failed earlier in August.

By Emily Olsen • Updated Sept. 5, 2023

Mayo Clinic’s profit continued to rebound in the second quarter after 2022 struggles

The nonprofit posted sequential growth in profits in the second quarter, despite increasing expenses.

By Susanna Vogel • Aug. 18, 2023

A new threat to healthcare breakthroughs: litigation investment entities

Former HHS Secretary Tom Price identifies the dangers of litigation investment entities and their potential roadblocks to medical innovation.

By Tom Price • Aug. 18, 2023

Definitive Healthcare acquires data analytics startup Populi for $52M

The deal comes weeks after Definitive Healthcare announced layoffs.

By Emily Olsen • Aug. 15, 2023

Mass General Brigham posts positive operating margin in Q3 after high 2022 losses

The Boston-based health system posted an improvement in revenue and operating income after it was placed on a financial improvement plan by the state last year.

By Susanna Vogel • Aug. 15, 2023

PE healthcare deals dropped to years-low levels in Q2

The amount of private equity deals decreased 24% compared to the first quarter this year. However, deal volume was still higher than the average quarterly deal count pre-pandemic, according to a PitchBook report.

By Sydney Halleman • Aug. 14, 2023

5 predictions for private equity in healthcare

Grant Thornton principal Lisa Walkush explains why healthcare remains one of the most attractive options for private equity firms.

By Lisa Walkush • Aug. 11, 2023

Cano Health exploring sale, lays off 700 employees

The value-based primary care chain posted a net loss of $270.7 million in the second quarter, nearly 19 times larger than its loss in the prior-year period.

By Emily Olsen • Aug. 11, 2023

Doximity slashes 10% of workforce amid post-COVID pressures

CEO Jeff Tangney attributed the company’s slowdown to “post-COVID upsell weakness,” while also reducing Doximity’s revenue guidance.

By Brian T. Horowitz • Aug. 10, 2023

Healthcare M&A hit three-year low in Q2, report finds

Continuing financial pressures could keep deal-making low in the second half of the year, but M&A could heat up in early 2024, a new KPMG report finds.

By Emily Olsen • Aug. 10, 2023