Finances: Page 2
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US health spending growth decelerated in pandemic's second year
According to new numbers from the CMS, national health spending grew 4.2% last year to almost $4.3 trillion, a significant slowdown from the 9.7% growth rate in 2020.
By Rebecca Pifer • March 29, 2022 -
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Hospitals saw negative operating margins in February for second consecutive month
Even as cases of the omicron variant plummet, the metrics indicate a "challenging recovery," according to Kaufman Hall's monthly report.
By Hailey Mensik • March 28, 2022 -
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TrendlineHealthcare Dive's Outlook for 2022
As the country enters its third year of battling the COVID-19 pandemic, fault lines in the healthcare landscape are becoming more clear and long-term implications are becoming more evident.
By Healthcare Dive staff -
Advocate Aurora's 2021 income, revenue rebound as patients return
The boost in non-COVID-19 patient services helped the 26-hospital Midwestern system offset rising labor and supply costs.
By Susan Kelly • March 22, 2022 -
Courtesy of Nationwide Children's Hospital
Negative effects of rural hospital closings go beyond health, study finds
When a hospital closes in a rural community, the effects often ripple through the local economy, reducing the size of the population, labor force and possibly county income, new research suggests.
By Susan Kelly • March 21, 2022 -
Mario Tama via Getty Images
Third of nurses plan to quit their jobs by end of 2022, survey shows
Nurses cited burnout and high-stress work environments as the No. 1 reason for leaving their jobs, followed by pay and benefits, according to a survey from staffing firm Incredible Health.
By Hailey Mensik • March 16, 2022 -
Providence St. Joseph Health
Providence operating loss more than doubled in 2021 as nurse shortage spurred higher labor costs
Providers are seeing expenses tied to salaries and benefits accelerate due to staffing shortages exacerbated by COVID-19.
By Samantha Liss • March 10, 2022 -
Courtesy of Nationwide Children's Hospital
Anesthesiology practices get paid more when backed by private equity, study finds
Staffing firms appeared to negotiate significantly higher prices for anesthesia services, the study authors concluded, raising concerns that such price inflation could lead to higher insurance premiums and patient cost-sharing.
By Susan Kelly • March 2, 2022 -
Boyloso via Getty Images
Hospital margins plummeted in January amid omicron
Providers and patients again delayed non-emergent care, either to mitigate the spread of the virus or preserve resources for patients with more urgent needs, according to Kaufman Hall.
By Hailey Mensik • March 1, 2022 -
Mayo Clinic's 2021 operating income climbs to $1.2B
In reporting its annual results, Mayo Clinic also said it is giving eligible staff members a 4% minimum salary increase in 2022.
By Susan Kelly • March 1, 2022 -
For-profits focus more on outpatient care as inpatient volume remains depressed
Inpatient volumes for non-COVID-19 care have flagged throughout the pandemic, leading some operators to focus more heavily on outpatient service lines like ASCs and freestanding emergency departments.
By Hailey Mensik • Feb. 28, 2022 -
Courtesy of One Medical
One Medical partnering with Connecticut health system, but stock drags on high MLR
CEO Amir Dan Rubin told analysts in a call Wednesday that COVID-19 headwinds continue, including staffing shortages, a lag in return to care and reduced revenue from testing.
By Shannon Muchmore • Feb. 24, 2022 -
Courtesy of Teladoc
Teladoc issues strong outlook as 2021 revenue tops $2B
But market uncertainty and expected growth weighted in the back half of 2022 sent the company's stock slumping.
By Rebecca Pifer • Feb. 23, 2022 -
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Ascension's Q2 profit falls amid omicron surge
Ascension's operating margin in the first six months of its fiscal year fell to 0.2% from 5.7% the year prior as it faced a host of challenges.
By Samantha Liss • Feb. 22, 2022 -
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Nonprofit hospitals may provide less community benefit than for-profits in some states, study suggests
The results raise questions about the magnitude of tax subsidies nonprofits receive, and whether policymakers should better tie subsidies to facility performance in providing community benefit.
By Hailey Mensik • Feb. 16, 2022 -
Adeline Kon/Healthcare Dive/Healthcare Dive
CommonSpirit posts operating loss in quarter, hurt by surging labor costs
One of the nation's largest nonprofit health systems also disclosed an agreement to acquire a pair of hospitals in the central U.S. for $135 million.
By Susan Kelly • Feb. 16, 2022 -
Fotolia
Baylor Scott & White's income slumps as expenses climb
Like other healthcare providers, Texas' biggest nonprofit hospital system is contending with rising labor and supply costs and softer income as the country enters the third year of the COVID-19 pandemic.
By Susan Kelly • Feb. 15, 2022 -
Kaiser sets new record for annual net income with $8.1B
Kaiser, which noted its integrated business model also helped it weather the pandemic on strong financial footing, covered 12.5 million members at the end of 2021.
By Rebecca Pifer • Feb. 14, 2022 -
'An ever-spiraling upward cycle': nonprofit hospital CEOs paid 8 times more than average worker
The pandemic has given hospitals (and especially their boards, which decide salary) the chance to rethink how they compensate CEOs. Researchers suggest hospitals look into aligning CEO salary with the value they create.
By Rebecca Pifer • Feb. 11, 2022 -
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Tenet continues bet on ambulatory surgery centers to drive long-term growth
The hospital operator plans to buy 30 more centers from SurgCenter Development in 2022, in addition to the 16 it's already acquired this year, executives said on a earnings call Tuesday.
By Hailey Mensik • Feb. 9, 2022 -
Bruce Bennett via Getty Images
Boosters and test demand — coupled with lower COVID-19 treatment costs — drove CVS profit up 33% in Q4
People flocked to get booster shots as the omicron variant drove a sharp increase in testing, boosting revenue for CVS' drugstore segment. Meanwhile, its payer arm reported lower-than-expected COVID-19 treatment costs.
By Rebecca Pifer • Feb. 9, 2022 -
Lisa Maree Williams via Getty Images
Pfizer forecasts $100B in sales, fueled by COVID-19 vaccine, pill
The company estimated revenue from its COVID-19 vaccine and new antiviral pill Paxlovid will total $54 billion this year.
By Ned Pagliarulo • Feb. 8, 2022 -
CMS
Along with rate increase for MA plans, CMS pitches closer look at social determinants of health
Cowen analysts said the rate increase "should support another year of benefit enhancements & strong enrollment growth," and noted that in recent years the final rate has been higher than what was first proposed.
By Shannon Muchmore • Feb. 3, 2022 -
Courtesy of Humana
Humana looks to cut costs, reinvest $1B into Medicare business
Part of the plan includes "optimizing" the workforce. Executives didn't clarify whether that would include layoffs.
By Samantha Liss • Feb. 2, 2022 -
Courtesy of Skanska and Brigham and Women’s Hospital
Hospitals felt omicron's full force in late 2021, Kaufman Hall says
A respite from treating large volumes of COVID-19 patients was short-lived last fall as people with symptoms filled hospital emergency rooms and boosted visits in December, according to a new report.
By Susan Kelly • Feb. 1, 2022 -
Cleveland Clinic reports COVID-spurred financial windfall in 2021
The nonprofit has yet to publicly issue a comprehensive financial statement, but some initial figures illustrate how Cleveland Clinic — like some other major hospital chains — has actually prospered financially during the pandemic.
By Rebecca Pifer • Jan. 31, 2022
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