Finances: Page 53
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VA pauses Cerner EHR implementation — again — amid COVID-19
It's the second delay this year of the multi-billion dollar project, and the latest in a stop-and-go effort to overhaul the Department of Veterans Affairs' electronic records system.
By Rebecca Pifer • April 6, 2020 -
Alex Wong via Getty Images
Commercial labs push for piece of $100B coronavirus relief
The clinical labs trade group, representing LabCorp and Quest, wants HHS to allocate CARES Act money for expenses or lost revenue related to COVID-19. But there's strong competition from healthcare providers also hurting financially.
By Greg Slabodkin • April 6, 2020 -
Quorum files for bankruptcy
The CHS spinoff had warned the action might be necessary after years of flagging financial performance. The system has entered into a restructuring agreement with terms to reduce its debt by about $500 million.
By Hailey Mensik • Updated April 7, 2020 -
Retrieved from Flickr.
HHS to divert some of $100B hospital COVID-19 funding to uninsured
AHA seemed to object to the order, saying funding to treat the uninsured should come from new legislation or an emergency program as the $100 billion for them "was intended to provide hospitals with an infusion of emergency relief."
By Shannon Muchmore • Updated April 6, 2020 -
"200323-Z-IB607-0002" by New Jersey National Guard is licensed under CC BY-ND 2.0
Health jobs plummeted in March despite rising need for healthcare workers
Dentist's offices shed 17,000 jobs, doctor's offices lost 12,000 and other healthcare practitioners lost 7,000 jobs, the Bureau of Labor Statistics reported Friday morning.
By Rebecca Pifer • April 3, 2020 -
Getty / Edited by Healthcare Dive
Tenet pulls 2020 guidance in wake of COVID-19 impact
The for-profit hospital chain said its system is not currently overwhelmed but has rescheduled "a substantial amount" of elective procedures and closed or reduced hours at ambulatory surgery and outpatient centers.
By Shannon Muchmore • April 2, 2020 -
Master Sgt. Hecht, Matt. (2020). [Photograph]. Retrieved from Flickr.
AHA wants private payers to do more to help hospitals fight COVID-19. Payers say they've done a lot already
"We are working hard to offer billions of dollars of additional resources and enhanced coverage," AHIP SVP of Communications Kristine Grow told Healthcare Dive. "But these resources are not infinite."
By Rebecca Pifer • April 2, 2020 -
AHA seeks $25K per hospital bed from emergency COVID-19 fund
The unprecedented package signed late last week gave wide discretion to HHS for how the $100 billion to health systems would be divided and sent to providers.
By Shannon Muchmore • April 1, 2020 -
Cleveland Clinic mum on COVID-19 hit, reports jump in 2019 operating income
The health system tallied across the board increases in inpatient admissions, surgical cases and emergency room visits for the year.
By Samantha Liss • March 31, 2020 -
'What about us?': Frontline primary care practices fear for survival amid coronavirus
Independent practices have resisted selling to hospitals amid years of provider consolidation, reimbursement cuts and more, leaving them with razor-thin margins. Now, they worry COVID-19 could send them off the financial cliff.
By Rebecca Pifer • March 26, 2020 -
Trump signs $2T stimulus package, clearing $100B for struggling hospitals
The bill, the largest piece of emergency aid in U.S. history, was cleared by the House of Representatives earlier on Friday.
By Samantha Liss • Updated March 27, 2020 -
Community health centers get $100M for COVID-19 response
Advocacy groups for community health centers welcomed the desperately needed funding, but said it's not nearly enough.
By Hailey Mensik • March 25, 2020 -
Even with billions from Congress, hospitals set to lose over $1K per COVID-19 case
Those hits, coupled with the loss of lucrative elective procedures — which most hospitals have halted amid the outbreak — could be catastrophic for facilities, especially those in rural areas and with little cash on hand.
By Shannon Muchmore • March 25, 2020 -
Coronavirus could hike premiums by double digits next year
Payers, smack dab in the middle of rate-setting for 2021, could increase premiums from 4% to more than 40% if they aim to recoup all COVID-19 costs and protect solvency, California actuaries say.
By Rebecca Pifer • March 25, 2020 -
Kaiser Permanente shelves $900M headquarters build
The integrated healthcare giant planned to build a 29-floor, 1.6 million-square-foot tower in what would have been Oakland's largest commercial project. The decision to stop the project was not related to COVID-19, officials said.
By Rebecca Pifer • March 25, 2020 -
Official White House Photo by Joyce N. Boghosian. (2020). "President Trump meets with the Coronavirus Task Force" [Photograph]. Retrieved from https://www.flickr.com/photos/whitehouse/49614607817/in/photostream/.
As Congress gains ground on stimulus, healthcare workers ask people to stay home
President Donald Trump, however, said he wanted the nation to be "opened up" by Easter, despite strong advice from public health experts that the U.S. continue social distancing efforts.
By Shannon Muchmore • March 25, 2020 -
CDC/Alissa Eckert, MS. "covid-19 coronavirus on white". Retrieved from https://www.cdc.gov/media/subtopic/images.htm.
Ratings agencies issue foreboding reports on hospital finances as AHA seeks $100B to respond to COVID-19
"While the healthcare sector has responded extremely well to past crises, the scale of the coronavirus pandemic is unprecedented," Fitch Ratings warned.
By Ron Shinkman • March 20, 2020 -
Telehealth vendors scramble to hire doctors as patient volume soars amid COVID-19
"We've gotten a lot of applications, more in the past two days since we put out this temporary position than we could have imagined," 98point6 CEO Robbie Cape told Healthcare Dive. "That being said, we need 10 times more."
By Rebecca Pifer • March 20, 2020 -
Block-granting Medicaid would cause program funding to plunge, Commonwealth Fund says
The funding caps created by block grants "would require states to cut coverage, reduce benefits, increase cost-sharing, lower provider payment rates" or otherwise reduce expenditures, according to a new report.
By Ron Shinkman • March 9, 2020 -
Payer stocks rebound as Super Tuesday results quell M4A fears
A slew of primary wins by former Vice President Joe Biden helped tamp down fears that managed care companies could be downsized or eliminated under "Medicare for All" pushed by Sen. Bernie Sanders.
By Rebecca Pifer • March 4, 2020 -
JAMA finds public insurance payments increased more than private
Lower back and neck pain and other musculoskeletal disorders accounted for the highest amount of spending in 2016 at an estimated $134.5 billion — 57.2% of which was paid for by private insurance, according to the research.
By Hailey Mensik • March 3, 2020 -
Allscripts eyes margin improvement following $182M loss in 2019
The Chicago-based EHR vendor plans to hire a financial advisory firm to create an improvement plan following what the CFO called "disappointing" margins and "pathetic" free cash flow.
By Rebecca Pifer • March 3, 2020 -
GAO: Number of hospitals heavily dependent on Medicare has shrunk
The agency attributed the smaller number of facilities in the Medicare Dependent Hospital Program to closures, mergers or acquisitions and changes in designation.
By Ron Shinkman • March 2, 2020 -
UPMC topline soars on Highmark truce
Highmark members receiving inpatient care at UPMC's facilities increased by 30% in 2019, and those receiving outpatient care increased by 26%, according to the Pittsburgh-based hospital system's financial results released Friday.
By Rebecca Pifer • March 2, 2020 -
Kaufman Hall: Hospital revenue, margins improved in 2019, but warning signs ahead
The consultancy's year in review report also noted rising expenses, and said the modest gains came amid a rosy economy and before the 2020 election and coronavirus outbreak.
By Ron Shinkman • Feb. 28, 2020
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