Finances: Page 50
-
Hospitals see fuzzy future for patient volume, predict an additional $120B in losses this year
American Hospital Association members said they don't think they will see typical volumes this year, while 30% said the timeframe was unknown or that they never expect to return to baselines.
By Hailey Mensik • June 30, 2020 -
Quorum completes bankruptcy process, taps new CEO
The health system also announced a new board of managers, including Joey Jacobs, former head of Acadia Healthcare, as the new CEO. He will succeed Bob Fish.
By Hailey Mensik • Updated July 8, 2020 -
US hospitals saw some recovery in May but distress 'far from over'
Median operating margins were back in the black and operating minutes almost doubled from April, but figures were still significantly down year over year, according to Kaufman Hall's latest flash report.
By Shannon Muchmore • June 24, 2020 -
Medicare Advantage plans could see payments drop in 2021 due to COVID-19, analysis finds
A new analysis by Avalere Health concludes that multiple Medicare Advantage claims dropped dramatically in April due to COVID-19, a trend that could depress payments to insurers in 2021.
By Ron Shinkman • June 23, 2020 -
Master Sgt. Hecht, Matt. (2020). [Photograph]. Retrieved from Flickr.
Medicare claims data for COVID-19 highlights stark racial, economic disparities
Fee-for-service payments for related hospitalizations totaled $1.9 billion for the first months of the pandemic, with Black Americans four times more likely to end up in the hospital from the coronavirus.
By Shannon Muchmore • June 23, 2020 -
Recovery of medical staffing firms will lag behind hospitals, analysts say
The "pace of recovery will not be linear" and depends on the mix of service lines and geography, S&P Global analysts said in a Thursday note. Analysts also expect hospitals to aggressively renegotiate contracts later in the year.
By Rebecca Pifer • June 19, 2020 -
Medical groups, health systems expect COVID-19 pinch to last into next year, AMGA says
Although most of the providers surveyed say they have adequate reserves to last at least two more months, the trade group stepped up its pleas for more financial assistance from the federal government.
By Ron Shinkman • June 17, 2020 -
Retrieved from Advocate-Aurora on June 17, 2020
Advocate-Aurora, Beaumont ink letter of intent to explore merger
A union would create a system with combined revenue of about $17.5 billion. The plans come soon after Beaumont, Michigan's largest health system, canceled a planned merger with Ohio-based Summa Health.
By Shannon Muchmore • June 17, 2020 -
Tenet cites dramatic rebound of patient volume post COVID-19 slump
New hotspots are emerging in states in the West and South largely spared from the first coronavirus wave, posing a challenge for hospital operators with major footprints in those states, such as the Dallas-based chain.
By Hailey Mensik • Updated June 17, 2020 -
CMS pushes back payer MLR reporting deadline, citing COVID-19
The agency said granting flexibility would help insurers pay rebates mandated by the Affordable Care Act more quickly to enrollees, but issued no requirement that they be sped up.
By Ron Shinkman • June 15, 2020 -
Air ambulance market is 'dysfunctional,' puts most patients at risk for huge surprise bills: analysis
Even the insured struggle to pay, with median charge for in-network claims up from $24,938 in 2014 to $32,708 in 2017, according to claims data from Aetna, Humana and UnitedHealthcare.
By Ron Shinkman • June 12, 2020 -
"Official U.S. Navy PageFollow Sailor screens a patient in their car at Naval Medical Center Portsmouth’s COVID-19 drive thru screening" by Official U.S. Navy Page is licensed under CC BY 2.0
OpinionIt's time for a national hospital supply chain czar
If the current lack of supply chain coordination isn't resolved before the expected second surge in COVID-19 cases strikes, the result will be a far worse crisis, writes Jody Hatcher, a healthcare supply chain expert.
By Jody Hatcher • June 12, 2020 -
Professional services revenue plunged nearly 50% in April as pandemic worsened
The nonprofit FAIR Health study found the dramatic decrease was due to a 68% drop in use as patients and doctors deferred non-essential care.
By Rebecca Pifer • June 10, 2020 -
Amwell files for IPO — report
The telehealth player is reportedly preparing to go public on the heels of raising almost $200 million in funding amid widespread enthusiasm for virtual care brought on by the COVID-19 pandemic.
By Rebecca Pifer • June 5, 2020 -
$250B of all healthcare spend could be digitized, McKinsey estimates
Some analysts expect telehealth use to flag in the second half of 2020 if the novel coronavirus loses steam. But McKinsey researchers think these dynamics will persist for up to 18 months at least, or until a vaccine is widely available.
By Rebecca Pifer • June 4, 2020 -
CMS relaxing more value-based model requirements in wake of pandemic
The changes are aimed at minimizing reporting burden and increasing flexibilities for providers as they continue to face great financial and logistical challenges from the novel coronavirus.
By Shannon Muchmore • June 3, 2020 -
Medicaid expansion key indicator for rural hospitals' financial viability
Other factors that play a positive role include tax-exempt status and occupancy rates, according to a study in Health Affairs.
By Hailey Mensik • June 2, 2020 -
UPMC latest hospital system to report Q1 loss due to COVID-19
The Pennsylvania-based system's health insurance plan saw increased revenue due to a significant rise in its membership, but its operating income dropped by 56%.
By Ron Shinkman • June 1, 2020 -
Sluggish patient volume could jeopardize hospitals repaying advanced Medicare funds, report suggests
Older patients lead the pack in returning to emergency rooms while younger generations had smaller declines in visit activity overall and are returning to all care settings faster, a survey of 500 hospitals by Transunion found.
By Hailey Mensik • June 1, 2020 -
Public option would drive premiums down, but increase enrollments only modestly, RAND says
The California-based nonprofit explored four different scenarios in which a public option health plan could be introduced to the state and federal exchanges.
By Ron Shinkman • May 29, 2020 -
Hospitals to face bumpy recovery with depressed margins into 2021, S&P predicts
Federal funds are helping offset short-term health system losses, but a potential second coronavirus surge makes long-term prospects unpredictable.
By Hailey Mensik • May 28, 2020 -
HCA tells nurses union to give up bargained wage increases — or face layoffs
The country's largest nurses union said HCA is also threatening elimination of employer contributions to 401k plans, wage freezes and pay cuts if they do not give up contractually-promised raises.
By Hailey Mensik • May 26, 2020 -
Providence, 1st to treat COVID-19 patient, posts $1.1B loss
The nonprofit system saw investment losses of $763 million in the first quarter as stock market volatility followed stay-at-home orders for much of the U.S. That compared to a $582 million investment gain in the prior-year period.
By Shannon Muchmore • May 26, 2020 -
Ascension reports loss of $2.7B in Q1
The nonprofit system saw operating revenue decrease 2.5% year over year in the period ending March 31 to $6.1 billion. That came as expenses like salaries and supplies ticked up by more than 3% to $6.4 billion.
By Rebecca Pifer • May 26, 2020 -
Trinity Health joins other operators battered by pandemic, details CARES funding
The Michigan-based nonprofit reported surgical volumes alone plummeted 25% in March as significant investment losses contributed to a net loss of more than $880 million for the first nine months of its fiscal year.
By Samantha Liss • May 22, 2020
Previous
