Finances: Page 35
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Huge variance in state costs for complex hospitalizations from COVID-19, analysis finds
New Jersey has the highest in-network costs for complex hospitalizations from COVID-19 of any U.S. state, nonprofit Fair Health said. Maryland, which uses an all-payer model, had the lowest.
By Rebecca Pifer • Dec. 15, 2021 -
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Flurry of doctor group buyouts helps fuel 'extraordinary' surge in health M&A
Companies across the healthcare spectrum are pursuing deals to strengthen operations after two years of pandemic-driven challenges, a new PwC report found.
By Susan Kelly • Dec. 14, 2021 -
Employers report highest annual increase in per-employee health costs in over a decade
The findings raise questions of whether employers are experiencing a temporary correction to the cost trend or if they're staring down the barrel of a new period of higher cost growth.
By Rebecca Pifer • Dec. 13, 2021 -
New CVS primary care locations to include physicians for first time
CVS wants to broaden its care delivery strategy, including "physician-led primary care centers with integrated virtual and home assets," CVS EVP and president of pharmacy services Alan Lotvin said.
By Rebecca Pifer • Dec. 10, 2021 -
Physician income dips when hospitals buy practices: Health Affairs
Average doctor pay slipped in hospital employment arrangements even as health systems typically benefit financially from acquiring physician practices.
By Susan Kelly • Dec. 8, 2021 -
Julia Rendleman via Getty Images
Bright Health nabs $750M capital infusion with help from new investor (and competitor) Cigna
Cigna is investing $550 million in an apparent rival, attracted by its clinical network and opportunities to drive value there as more insurers look to snap up doctor's groups.
By Rebecca Pifer • Dec. 8, 2021 -
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Hospital lobby argues its case against 340B payment cut before SCOTUS
Tuesday's arguments seemed to center around single words and phrases to determine whether HHS had the authority to change payment rules in 2018 for 340B hospitals, which serve a large share of low-income patients.
By Samantha Liss • Dec. 1, 2021 -
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Hospital lobbying fails to stop looming Medicare cuts in year-end proposal
Lawmakers on Thursday reached a bipartisan year-end spending bill that doesn't include provisions to push back or stop the upcoming Medicare cuts.
By Rebecca Pifer • Updated Dec. 3, 2021 -
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Hospitals brace for omicron as margins weaken further, Kaufman Hall reports
New uncertainties raised by the variant are likely to challenge hospitals as they grapple with shrinking operating margins as a result of escalating labor costs.
By Susan Kelly • Dec. 1, 2021 -
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Supreme Court to hear oral arguments in 340B case with billions of dollars at stake
A lower court initially sided with the American Hospital Association, a decision that was later reversed by an appeals court, which AHA characterized as a "legal error."
By Samantha Liss • Nov. 30, 2021 -
UPMC more than quadruples net income to $1.2B amid returning care and investment gains
Though patients returning to medical care delayed earlier in the pandemic helped its provider division, UPMC's health plan margin shrank due to higher medical claims in the period.
By Rebecca Pifer • Nov. 29, 2021 -
Medtronic blames revenue miss on COVID-19 resurgence, hospital staffing shortages
CEO Geoff Martha said the medtech was hit in its second quarter by pandemic-related challenges that weighed on procedure volumes, particularly in the U.S.
By Greg Slabodkin • Nov. 24, 2021 -
Weak investment markets drive Cleveland Clinic's income down 30%
Like its peers, the nonprofit giant reported expense growth outpacing revenue growth in the third quarter, though the disparity between the two wasn't as sharp as other systems'.
By Rebecca Pifer • Nov. 24, 2021 -
Advocate Aurora hit by margin pressure in Q3
The nonprofit system saw a major increase in spending on contracted medical services as well as a jump in supply costs.
By Samantha Liss • Nov. 23, 2021 -
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Labor, supply chain pressures mount for US hospitals, Fitch says
Staffing shortages, higher transportation costs and trouble sourcing some materials threaten healthcare revenue and operating margins in the near term, the ratings agency said.
By Susan Kelly • Nov. 22, 2021 -
Ascension reports second-highest COVID-19 inpatient count
The St. Louis-based nonprofit reported operating income of $25 million for the quarter, a steep decline from the prior-year period.
By Samantha Liss • Nov. 22, 2021 -
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CVS unveils new health-focused retail strategy, explicit move into primary care
Along with outlining three new store formats — including sites for primary care delivery, a new area for the retail drugstore behemoth — CVS plans to close 900 stores over the next three years as consumer buying patterns change.
By Rebecca Pifer • Nov. 19, 2021 -
Mayo Clinic reports jump in operating income during Q3
The Rochester, Minnesota-based nonprofit reported robust financial results as revenue grew 10%, outpacing expense growth during a quarter in which rising costs challenged many systems due to heightened labor demands.
By Samantha Liss • Nov. 19, 2021 -
Insurtechs notched feverishly high MLRs in Q3. But it's not necessarily a mark of poor cost management
Despite strong year-over-year revenue growth, the finances of Bright, Clover and Oscar were walloped by coronavirus and risk adjustment headwinds.
By Rebecca Pifer • Nov. 17, 2021 -
CommonSpirit continuing to pursue Midwest deal as delta pressures operations
The nonprofit is currently in discussions with an undisclosed third party to negotiate the divestiture of its North Dakota and Minnesota facilities, according to its first quarter results.
By Rebecca Pifer • Nov. 17, 2021 -
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As Congress weighs drug price restraints, ICER calls out 'unsupported' increases
In a new report, ICER highlighted AbbVie's price hikes on Humira, which the group said resulted in more than $1 billion in U.S. spending last year without any new evidence of health benefits.
By Jonathan Gardner • Nov. 16, 2021 -
Providence posts operating loss amid delta surge
The nonprofit's volumes increased even though its COVID-19 census plateaued later in the quarter, as patients who deferred care during the pandemic sought treatment, hiking expenses.
By Rebecca Pifer , Samantha Liss • Nov. 16, 2021 -
Baylor Scott & White sees income dip in Q1 as costs climb
Labor costs at the largest nonprofit health system in Texas surged 12% in the quarter ended in September, contributing to a 7% drop in income from operations.
By Susan Kelly • Nov. 15, 2021 -
Providers were protected from pay cuts, layoffs as volumes fell during pandemic, survey finds
"You saw how groups tightened their belts and there was some learning from this that you're not going to let go of," Elizabeth Siemsen, one of the report's authors, said.
By Hailey Mensik • Nov. 12, 2021 -
Courtesy of Amwell
Delta surge spurs Amwell's urgent care growth as specialty, behavioral visits drop off
Urgent care visits generate less revenue, so the shift in mix had an unfavorable impact on total revenue per visit. Amwell's revenue was down 1% year over year to $62.2 million, lower than analyst expectations.
By Rebecca Pifer • Nov. 11, 2021
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