Finances: Page 30
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Healthcare lobbying rose 70% over past two decades
U.S. healthcare lobbying expenditures totaled almost $714 million in 2020, compared to $358 million in 2000, according to new research.
By Rebecca Pifer Parduhn • Oct. 31, 2022 -
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Teladoc shares on upswing as it sets up for ‘achievable’ growth
The vendor lowered its fourth-quarter and full-year outlooks on Wednesday. But industry watchers cheered Teladoc for setting up obtainable Q4 growth coming out of pandemic highs.
By Rebecca Pifer Parduhn • Oct. 27, 2022 -
Molina’s contract wins will have ‘profound impact’ on company, CEO says
The string of Medicaid contracts amount to $5.8 billion in additional annual premium revenue, according to CEO Joe Zubretsky.
By Samantha Liss • Oct. 27, 2022 -
Illustration: Xavier Lalanne-Tauzia for Industry Dive
Low admissions lead to $42M net loss for CHS, despite lower contract labor spend
Falling admissions, Hurricane Ian and an unfavorable payer mix contributed to the net loss, outpacing an effort by CHS to reduce contract labor expenses in the third quarter.
By Sydney Halleman • Oct. 27, 2022 -
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UHS focusing on lowering premium pay, filling staff roles as it faces inflationary pressure
CFO Steve Filton said that, while he doesn’t believe premium pay will return to pre-pandemic levels in the foreseeable future, a lull in COVID-19 cases could give UHS an opportunity to reduce costs as demand for contract labor drops.
By Shannon Muchmore • Oct. 26, 2022 -
After pandemic highs, digital health funding slouches to early 2019 levels
Global digital health funding of $4.6 billion fell 36% from the second quarter to the third quarter this year, according to a new report from CB Insights.
By Rebecca Pifer Parduhn • Oct. 25, 2022 -
Cigna’s Express Scripts wins Centene’s $35B prescription drug contract
The PBM contract is one of the largest to change hands recently, one analyst said. Centene will drop CVS Caremark in 2024.
By Samantha Liss • Oct. 25, 2022 -
Illustration: Xavier Lalanne-Tauzia for Industry Dive
HCA shares fall after COVID-19 admissions decline in Q3
A spike in COVID-19 cases due to the delta variant in 2021 contributed to the operator’s decline in Q3 admissions.
By Sydney Halleman • Oct. 21, 2022 -
Illustration: Xavier Lalanne-Tauzia for Industry Dive
Tenet’s net income tumbled in Q3
Tenet lowered its full-year guidance as labor costs were up slightly — a reversal for the operator that has seen declines in recent quarters unlike its for-profit peers.
By Hailey Mensik • Oct. 21, 2022 -
Providers are doubling down on software investments, report finds
About 45% of providers increased their software investments over the past year, while only 10% decelerated spending, according to a new report from KLAS and Bain.
By Rebecca Pifer Parduhn • Oct. 20, 2022 -
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Hospital volumes under pressure as labor crisis persists, Kaufman Hall says
Patient volumes are falling in orthopedics, cardiology and neurosurgery from a year ago. Only oncology volumes are up, hospital executives surveyed by Kaufman Hall said.
By Susan Kelly • Oct. 19, 2022 -
UnitedHealth raises 2022 earnings outlook following Q3 beat
Management said they expect Change Healthcare to be accretive to earnings starting in 2023, not in 2022 as previously expected.
By Rebecca Pifer Parduhn • Oct. 14, 2022 -
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Walgreens thinks healthcare division will achieve profitability by 2024
Despite a net loss in the fourth quarter, the Deerfield, Illinois-based pharmacy chain beat analyst expectations for both earnings and revenue.
By Rebecca Pifer Parduhn • Oct. 13, 2022 -
Wasteful administrative costs tied to high US health spending
A Health Affairs research brief identified at least half of nonclinical health expenditures as excessive.
By Susan Kelly • Oct. 11, 2022 -
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Deep DiveHow tight nursing home capacity is bottlenecking hospital operations
Large hospital operators reported increasing lengths of stay and difficulties discharging patients in the first half of 2022. The answer to why lies in a perennially stressed post-acute care chassis driven to the brink by COVID-19.
By Rebecca Pifer Parduhn • Oct. 4, 2022 -
Illustration: Xavier Lalanne-Tauzia for Industry Dive
Trinity Health posts $1.4 billion net loss in 2022 as contract labor costs hit ‘unprecedented highs’
The Michigan-based system's contract labor costs ballooned 123% compared to the prior year as it struggled with labor shortages.
By Susan Kelly • Oct. 4, 2022 -
Adeline Kon/Healthcare Dive/Healthcare Dive
Safety net hospital operator files for bankruptcy protection
Expenses for contract labor and medical supplies have skyrocketed at Pipeline, according to its bankruptcy filing.
By Susan Kelly • Oct. 4, 2022 -
Almost half of Americans have inadequate healthcare coverage, survey finds
Even as the uninsured rate has dipped to a record low, having coverage is not enough to protect consumers from the high-cost of care, Commonwealth Fund researchers found.
By Hailey Mensik • Sept. 28, 2022 -
Hospitals altered charity care policies during pandemic, study shows
Many made positive changes, but vague and unpublicized eligibility criteria were also common, research published in JAMA Network Open found.
By Susan Kelly • Sept. 27, 2022 -
CommonSpirit posts $1.3B full-year operating loss
It’s the latest system to report that pressures from inflation and expenses are outpacing revenue growth.
By Susan Kelly • Sept. 26, 2022 -
Moody’s downgrades Envision, citing high bankruptcy risk
The private equity-owned physician staffing firm faces a deteriorating operating performance that could deplete its cash by the end of 2023, the rating agency warned.
By Susan Kelly • Sept. 26, 2022 -
Adeline Kon/Healthcare Dive/Healthcare Dive
NYT investigation finds Providence pressured poor patients to pay
The report raises questions about how much charity care Providence provides. Last year, the health system spent less than 1% of its expenses on free or reduced care for patients.
By Samantha Liss • Sept. 26, 2022 -
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Fitch cuts Lifespan’s outlook to negative after weak Q3
The credit rating agency’s downgrade for Rhode Island’s largest health system is another sign of mounting financial pressures on hospitals.
By Susan Kelly • Sept. 20, 2022 -
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Humana looks to buy clinics from private equity partner for up to $550M
The insurer is accelerating the expansion of its primary care chain serving Medicare patients.
By Susan Kelly • Sept. 19, 2022 -
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Hospitals sending ‘distress flare’ after billions in projected 2022 losses
A Thursday report prepared by Kaufman Hall showed that hospitals are likely to lose billions, driven by an overall expected $135 billion increase in expenses this year, and a $86 billion rise in labor costs alone.
By Sydney Halleman • Sept. 16, 2022
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