Hospitals
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Nonprofit hospitals have decreased charity care spending even as operating profits, cash pools grow
The new study is the latest in a string of research suggesting nonprofit hospitals’ balance sheets benefit from the latitude they have regarding charity care spending.
By Rebecca Pifer • June 6, 2023 -
Sutter Health names first chief physician executive
Todd Smith will be responsible for delivering systemized service line standards, deepening relationships between medical groups and community physicians, and reducing clinical variation.
By Sydney Halleman • June 6, 2023 -
Explore the Trendline➔
Dollar Photo ClubTrendlineLabor
Amid a surge in COVID-19 cases, hospitals need nurses so desparetly they're offering massive sign-on bonuses and staffing firms say open positions for both temporary and permanent nursing roles are at all-time highs
By Healthcare Dive staff -
Tenet to pay over $29M to settle kickback allegations at Detroit Medical Center
The Department of Justice alleged two DMC hospitals offered the services of mid-level practitioners to physicians in exchange for Medicare patient referrals.
By Emily Olsen • June 2, 2023 -
BJC HealthCare, Saint Luke’s Health System plan to merge, forming $10B system
The organizations signed a non-binding agreement to form a 28-hospital system serving patients in Missouri, Kansas and Illinois.
By Emily Olsen • June 1, 2023 -
Medicaid redeterminations
Medicaid changes, end of COVID emergency hampered hospital margins in April
Inflation and high expenses are placing a burden on hospitals as they recover from COVID-19 challenges. Hospital labor expenses rose 3% in April from March, according to Kaufman Hall.
By Brian T. Horowitz • June 1, 2023 -
Asher Heimermann. Retrieved from Wikimedia Commons.
Advocate Health reports 0.1% operating margin in inaugural Q1 earnings
The nonprofit giant formed in December barely made it into the black, after revenue of $7.54 billion squeaked past expenses of $7.53 billion.
By Rebecca Pifer • May 31, 2023 -
The image by Jeffrey Beall is licensed under CC BY-SA 3.0
Kaiser pledges $10M to safety-net hospital to stem ‘unprecedented financial challenges’
Denver Health — the largest provider of care for uninsured people in the city — has struggled with rising costs and a surge in sicker patients.
By Sydney Halleman • May 31, 2023 -
Persistent expenses drove Ascension to $1.8B operating loss
Improving volumes, especially outpatient surgeries and emergency room visits, failed to outpace growing expenses in the nine-month period.
By Sydney Halleman • May 30, 2023 -
Cleveland Clinic outpaced expense growth to return to profitability in Q1
The health system noted that growing expenses are still a concern, with labor costs like overtime increasing.
By Emily Olsen • May 25, 2023 -
Providence narrowed losses as patient volumes increased
The Renton, Washington-based health system said inflation, labor shortages, delayed reimbursement from payers and supply chain problems are still affecting its bottom line, but its financial outlook is improving.
By Emily Olsen • May 23, 2023 -
Intermountain posts $549M profit after revenue grew in Q1
The health system’s expenses, though, climbed 44% to $3.7 billion, with a large portion coming from employee compensation and benefits.
By Emily Olsen • May 23, 2023 -
What 3 key congressional hearings last week mean for the industry
Political will seems to be rising to address drivers of growing medical costs and poor access to care, according to lawmaker comments on the Hill.
By Sydney Halleman , Rebecca Pifer • May 19, 2023 -
Mayo Clinic grew profits in Q1, despite rising expenses
The Rochester, Minnesota-based academic medical system reported increased admissions and revenue in the first quarter. Operating expenses also grew, largely due to salary and benefit costs.
By Emily Olsen • May 19, 2023 -
Pennsylvania unions file antitrust complaint against UPMC
The unions allege that UPMC, the largest private employer in the state, has used its market dominance to stamp out wage growth, “drastically increase” workload and keep workers from departing for other jobs.
By Rebecca Pifer • May 19, 2023 -
House committee centers blame on PBMs for rising healthcare costs
Conversation about pharmacy benefit management consolidation dominated the hearing, with lawmakers pointing to the middlemen as drivers of high health costs.
By Sydney Halleman • May 18, 2023 -
House Republicans target Biden admin over hospital price transparency noncompliance
To improve price transparency, the government could consider extending reporting requirements to more provider sites or making compliance a condition of participating in Medicare, witnesses testified in a Tuesday hearing.
By Rebecca Pifer • May 17, 2023 -
CommonSpirit’s operating losses swell, sparking job cuts
Better investment returns due to a rebound in the financial markets helped mitigate CommonSpirit’s net loss, which reached $231 million in the quarter.
By Rebecca Pifer • May 16, 2023 -
CommonSpirit taps TrinityHealth executive as new chief strategy officer
Effective June 5, Sheri Shapiro will be responsible for advancing market strategy for the Chicago-based health system, which operates 138 hospitals across 22 states.
By Sydney Halleman • May 12, 2023 -
Cano divesting non-core assets to bolster cash flow, CEO says
The primary care provider, which has been embroiled in a boardroom fight, is focused on improving profitability in its core Medicare Advantage business.
By Susan Kelly • May 11, 2023 -
Here’s what will change when the COVID public health emergency ends
Vaccines, which have been crucial to curbing the threat of the virus, will remain free for the vast majority of people in the U.S., but over-the-counter tests will no longer be covered for most.
By Shannon Muchmore • May 10, 2023 -
Premier explores strategic alternatives, including a sale
The group purchasing organization lowered its revenue outlook last week due to softer demand from its customers amid excess inventory levels.
By Susan Kelly • May 9, 2023 -
Kaiser posts $1.2B in Q1 net profit after $961M net loss in prior-year quarter
The first-quarter report comes weeks after the operator announced its plans to acquire Geisinger Health and form a new nonprofit with the purpose of acquiring and operating other nonprofit systems.
By Sydney Halleman • May 8, 2023 -
Opinion
Celebrated healthcare heroes are workplace violence victims
Violence prevents nurses, doctors and other professionals from providing uninterrupted, quality patient care, argues Andrew Thum, the director of nursing workforce operations at Jefferson Health in Philadelphia.
By Andrew Thum • May 8, 2023 -
AHA, hospital groups file court brief asking to restore ACA preventive services mandate
The medical associations said preventive health services are essential to increase longevity and quality of life, and that medical evidence should dictate preventive care recommendations rather than political considerations.
By Brian T. Horowitz • May 8, 2023 -
Healthcare added 40K jobs in April with hospital, ambulatory gains
The April job numbers are a decrease compared to the sector's average monthly gain of 47,000 jobs over the prior six months.
By Sydney Halleman • May 5, 2023