Advocate Health slows growth in Q3

The nonprofit remained in the black for the first nine months of 2023, but performance dipped slightly in the third quarter.

By Susanna Vogel • Nov. 27, 2023

Average per-worker cost of health benefits rose by 5.2% in 2023: survey

Inflation is a contributor to the increase, but rising prescription drug costs are likely to have a longer-term impact, according to a Mercer report.

By Emily Olsen • Nov. 22, 2023

Intermountain Health financials are in the black, but down from 2022

The Salt Lake City-based operator posted $912 million in net income for the first nine months of 2023, down from the $2.2 billion reported last year.

By Susanna Vogel • Nov. 22, 2023

Insurers’ financial outlook stable despite higher MA utilization: Moody’s

Publicly traded health insurers’ financial results held steady in the third quarter, boosted by strong investment income and membership growth, according to the credit ratings agency.

By Emily Olsen • Nov. 22, 2023

Healthcare bankruptcies are rising. Here are five major filings so far in 2023.

Bankruptcies have spiked this year as federal COVID-19 funding lapsed and heightened interest rates, regulatory changes and labor shortages squeezed the sector.

By Sydney Halleman • Nov. 22, 2023

Mayo Clinic posts $4.5B in operating revenue for Q3

After a rocky 2022, the Minnesota-based nonprofit has posted a net income in three consecutive quarters on sustained volumes and moderating expenses.

By Susanna Vogel • Nov. 17, 2023

CommonSpirit kicks off 2024 fiscal year with $738M loss

The nonprofit operator hopes that a California provider fee program, due to pay out later this fall, will lessen its losses.

By Susanna Vogel • Nov. 16, 2023

Most rural hospitals no longer deliver babies, report finds

Financial challenges at rural hospitals — driven by reimbursement problems — are leading facilities to shutter labor and delivery wards, the report found.

By Susanna Vogel • Nov. 13, 2023

Mass General Brigham offers buyouts to workers in its digital unit

The buyouts come after the Boston-based nonprofit health system faced scrutiny from state regulators over spending.

By Susanna Vogel • Nov. 13, 2023

4 ways healthcare organizations can navigate industry challenges

Trends across technology, talent, care and operations are forcing healthcare leaders to take stock and anticipate where to focus their attention over the next three to five years.

Nov. 13, 2023

Optum Rx moves 8 insulins to preferred formulary status as pressure mounts on PBMs

The drugs shifting to preferred status — meaning they’ll be available for under $35 per month in out-of-pocket costs — were previously on tier three or excluded altogether from the pharmacy benefit manager’s formulary lists.

By Rebecca Pifer Parduhn • Nov. 10, 2023

HCA outlines plans to expand market share by 2030

The hospital operator said last week it is investing billions to expand emergency services and high acuity business lines.

By Susanna Vogel • Nov. 10, 2023

Walgreens lays off 5% of corporate workforce; CMO Kevin Ban departs

Yet another round of job cuts and executive turnover at Walgreens comes as the pharmacy chain looks to cut costs following poor financial performance.

By Rebecca Pifer Parduhn • Nov. 10, 2023

Nonprofit hospitals upgraded to ‘stable’ outlook: Moody’s

The credit ratings agency expects nonprofit hospitals to start financially recovering next year on improving patient volumes, reimbursement rates and cash flows.

By Susanna Vogel • Nov. 9, 2023

For-profit hospital operators strained by physician fees, payer relations in Q3

With the exception of HCA, the biggest U.S. health systems all reported lower year-over-year profits in the third quarter.

By Susanna Vogel • Nov. 9, 2023

Biggest takeaways from health insurers’ third-quarter earnings

Many payers beat Wall Street expectations in the quarter, despite ongoing utilization concerns. Other hot topics? Medicare Advantage stars, Medicaid redeterminations, individual exchange growth and GLP-1s.

By Rebecca Pifer Parduhn • Nov. 8, 2023

Healthcare financial strain is ‘widespread’ in U.S., study finds

The analysis adds to a growing body of research highlighting the burden of healthcare costs in the U.S., even for families with higher incomes. 

By Emily Olsen • Nov. 8, 2023

Envision Healthcare emerges from bankruptcy restructuring

The physician staffing firm, which filed for Chapter 11 bankruptcy this spring, said it has since reduced its debt by more than 70%.

By Emily Olsen • Nov. 7, 2023

Kaiser Permanente’s investment, operating income rebounded in Q3

Kaiser reported a $239 million profit and $83 million in investment income, compared to multi-billion dollar losses in the same period last year.

By Susanna Vogel • Nov. 7, 2023

Drilling down on obesity drugs: What medtech executives are saying

Investor concerns that interest in GLP-1s will slow demand for medical devices and procedures have shaved roughly $370 billion in value from stocks across the medtech sector, according to research.

By Susan Kelly • Nov. 6, 2023

CMS finalizes 2024 Medicare hospital, doctor payments, 340B fix and price transparency requirements

Regulators finalized a number of rules Thursday with sweeping implications for providers in the Medicare program, including rates for next year that doctors and hospitals slammed as insufficient.

By Rebecca Pifer Parduhn • Nov. 3, 2023

Amwell reports widening net loss, including $79M impairment charge

But the telehealth vendor’s new contract with the Defense Health Agency could support its path to profitability, management said.

By Emily Olsen • Nov. 2, 2023

Cigna raises 2023 membership outlook amid healthier economy

An expected economic downturn has yet to materialize, leading Cigna to say Thursday it plans to add at least 1.6 million members this year, up from previous forecasts.

By Rebecca Pifer Parduhn • Nov. 2, 2023

CVS beats expectations in Q3, but high costs weigh on profit outlook

The company is prepared for potential legislation forcing transparency in its pharmacy benefit manager business practices later this year, CEO Karen Lynch said on Wednesday.

By Rebecca Pifer Parduhn • Nov. 1, 2023

Health AI startup Olive to shut down

The startup was once valued at $4 billion during the height of the digital health funding boom.

By Emily Olsen • Nov. 1, 2023