Finances: Page 32
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Advocate posts H1 loss, sees Atrium merger closing this year
Like many of its peers, the Midwest hospital system faced labor cost pressures and depressed investment income in the first half of 2022.
By Susan Kelly • Aug. 24, 2022 -
Adeline Kon/Healthcare Dive/Healthcare Dive
Merger with SCL Health spurs Intermountain to $2.7B in net income
The Utah-based nonprofit reported a 46% year-over-year jump in net income for the first six months of the year.
By Rebecca Pifer Parduhn • Updated Aug. 24, 2022 -
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Mayo Clinic’s Q2 operating income tumbles as labor costs climb
The system said it is struggling with workforce shortages at a time when its hospitals are operating at near capacity.
By Susan Kelly • Aug. 22, 2022 -
Hospitals are seeing sicker patients after pandemic delays, AHA warns
Rising patient acuity is driving up costs for labor, drugs and supplies and straining finances, the hospital lobby said.
By Susan Kelly • Aug. 17, 2022 -
Providence posts $424M operating loss on heels of restructuring plan
COVID-19 volumes receded and weren’t offset by a rebound in surgeries, while the nonprofit had to rely more heavily on expensive agency staffing in the quarter.
By Rebecca Pifer Parduhn • Aug. 16, 2022 -
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Mass General Brigham posts $949M net loss, cites ‘unprecedented’ pressures
The Boston-based health system struggled with cost inflation, labor shortages and capacity constraints in its fiscal third quarter.
By Susan Kelly • Aug. 16, 2022 -
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Sponsored by First Republic BankFive types of entrepreneurship: meaning and defining characteristics
Entrepreneurs have a unique set of characteristics — which do you bring to the medical field?
Aug. 15, 2022 -
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Healthcare executive compensation grows in 2022
Median base salaries for executives at healthcare companies increased by 4.5% in the past year, according to consulting firm SullivanCotter.
By Hailey Mensik • Aug. 12, 2022 -
Courtesy of Oscar Health
Oscar Health pauses full-service tech deals amid implementation woes
The decision to halt new technology agreements doesn’t change Oscar’s financial expectations for 2022, as the insurtech plans to reallocate resources to focus on achieving profitability in its insurance operations next year.
By Rebecca Pifer Parduhn • Aug. 12, 2022 -
Adeline Kon/Healthcare Dive/Healthcare Dive
Kaiser Permanente posts Q2 net loss of $1.3B
The Oakland, California-based integrated health system attributed the setback in its quarterly results to market investments.
By Susan Kelly • Aug. 9, 2022 -
Permission granted by Clover Health
Clover Health’s Toy to step up as CEO as insurtech bolsters revenue
In a call with investors, incoming chief executive Andrew Toy said the path to profitability is “a huge focus” for Clover, and pointed to shrinking its medical loss ratio and controlling operating expense growth as key strategies.
By Rebecca Pifer Parduhn • Aug. 9, 2022 -
Sutter Health posts net loss for second straight quarter
Second quarter revenues failed to keep pace with rising costs at the Sacramento, California-based healthcare system.
By Susan Kelly • Updated Aug. 10, 2022 -
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Fitch downgrades CHS from stable to negative after discouraging earnings report
The move reflects “significant increases in labor costs and weakness in volumes and acuity mix driving a downturn in the company's revenue and margin levels,” according to a release.
By Hailey Mensik • Aug. 4, 2022 -
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Cigna’s Q2 profit climbs to $1.6B as fewer patients seek care
The payer raised its revenue and operating income targets for the year as a result of the quarterly performance.
By Samantha Liss • Aug. 4, 2022 -
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Volumes, net income down at for-profit hospitals in Q2
COVID-19 patient volumes fell rapidly from the first to second quarter across hospital chains as case counts waned, executives said on calls with investors.
Aug. 3, 2022 -
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CVS beats Q2 expectations, Aetna revenue rises nearly 11%
The company raised its full-year guidance despite a $77 million decrease in adjusted operating income, primarily due to declines in its retail segment.
By Sydney Halleman • Aug. 3, 2022 -
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Providers say inpatient pay adjustment for inflation not sufficient
Groups like the American Hospital Association had asked for more adjustments, but the CMS declined to set aside its regulatory payment formula.
By Shannon Muchmore • Aug. 2, 2022 -
Hospitals face sixth straight month of negative margins, report finds
Month-to-month increases in patient volumes were not enough to offset the growing cost of care, according to a Monday report from Kaufman Hall.
By Susan Kelly • Aug. 2, 2022 -
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New York sues CVS Health, alleging it deprived some hospitals of millions in 340B savings
CVS said in a statement that the “allegations are without merit and we will defend ourselves vigorously.”
By Samantha Liss • July 29, 2022 -
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Molina’s profit rises to $248M on higher Q2 membership
The insurer’s premium revenue increased 18% in the second quarter compared with the prior-year period as the payer saw membership increase 9%.
By Samantha Liss • July 29, 2022 -
Courtesy of Teladoc
Teladoc shares tumble amid weak guidance, inflation headwinds
Teladoc recorded another major net loss in the second quarter, driven in part by the Livongo acquisition’s goodwill impairment charge.
By Rebecca Pifer Parduhn • July 28, 2022 -
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CHS shares fall 36% after $326M Q2 loss
The for-profit hospital operator missed Wall Street expectations on revenue and saw admissions decline 3.4% year over year.
By Hailey Mensik • Updated July 28, 2022 -
UHS net income cut in half as system predicts COVID impact will persist through 2022
The health system — which warned investors it was experiencing a significant shortfall in operational results in June — still performed better than analysts expected.
By Rebecca Pifer Parduhn • July 26, 2022 -
Samantha Liss/Healthcare Dive
Centene posts $172M loss in Q2
Despite the loss, the payer beat analyst expectations in a number of key metrics and raised its financial outlook for the remainder of the year.
By Samantha Liss • July 26, 2022 -
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UHS explores joint ventures, aggressive managed care negotiations as costs increase
The system has been in conversation with acute care hospitals that have existing behavioral health services but feel they could be more efficient, CFO Steve Filton told investors Tuesday.
By Rebecca Pifer Parduhn • July 26, 2022
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