CommonSpirit posts $1.4B loss, says full COVID-19 impact unknown

The biggest proportion of losses were tied to investments, as the nonprofit health system's portfolio dropped in value by nearly $1.1 billion.

By Ron Shinkman • May 18, 2020

COVID-19 shreds Sutter Health's finances in matter of weeks

The Northern California nonprofit health system lost more than $1 billion in the first quarter due to the pandemic. Future finances could become even grimmer.

By Ron Shinkman • May 15, 2020

Explore the Trendline➔

Provider burnout

Hospitals are still struggling with provider burnout, after the COVID-19 pandemic exacerbated underlying staffing issues and prompted workers to quit their jobs.

By Healthcare Dive staff

Fitch Q2 outlook for nonprofit hospitals: 'worst on record'

Moody's Investors Service also warned this week the impact from the COVID-19 pandemic will linger into next year and noted government assistance won't make up for all the financial losses.

By Hailey Mensik • Updated May 15, 2020

Front-line COVID-19 responders in middle of pack on pay

Medscape's annual survey also found men continue to earn more than women, a trend that's held now for a decade. Among primary care physicians, men earn roughly 25% more than women.

By Rebecca Pifer Parduhn • May 14, 2020

For-profit, higher-margin hospitals at advantage when it comes to CARES funding

A Kaiser Family Foundation analysis looked at the implications of tying the latest round of $50 billion in federal bailout money to providers' net patient service revenue.

By Samantha Liss • May 14, 2020

House Dems carve out $100B for providers in latest attempt at COVID-19 relief package

The $3 trillion bill, which passed the House on Friday, is the Democrats' opening gambit for the next wave of congressional action, but Republicans and President Donald Trump say they're not in a hurry to approve new funding.

By Susan Kelly • Updated May 18, 2020

Orthopaedic surgeons predict return to somewhat normal volumes in 6 months

While procedures are expected to steadily ramp up over the next six months, Jefferies analysts found that more will be performed outside of hospitals — a trend accelerated by the pandemic.

By Hailey Mensik • May 12, 2020

Pushback against transparency, patient data plans in ONC's roadmap

Insurers and providers don't want negotiated rates made public while EHR vendors want to avoid federal "micromanagement," among other asks during the public comment period on the five-year federal health IT plan.

By Rebecca Pifer Parduhn • May 12, 2020

Hospitals balk as CMS doubles down on price transparency

In the draft of the Medicare payment rule posted Monday, the agency also proposed raising the rate for inpatient hospital services by about 1.6% in 2021, which would amount to nearly $2.1 billion.

By Shannon Muchmore • May 12, 2020

Healthcare sector lost stunning 1.4M jobs in April

The bulk of jobs shed were concentrated in ambulatory services, which lost more than 1 million jobs, presumably due to the widespread cancellation of elective procedures during the pandemic.

By Ron Shinkman • May 11, 2020

Trump administration: states to decide which hospitals get Gilead's COVID-19 drug

Remdesivir was cleared for FDA emergency use May 1 but hospitals and physicians were in the dark over how it would be distributed across the country, sparking frustration over the lack of transparency. 

By Ned Pagliarulo • May 11, 2020

Kaiser reports $1.1B net loss in Q1 due to stock market slide

The quarter did include some COVID-19-related costs, including establishing mobile hospitals and triage units and increasing inpatient capacity, but they were "not significant," the integrated system said.

By Rebecca Pifer Parduhn • May 11, 2020

Hospital workforce tracker: COVID-19 spurs layoffs, furloughs

Dallas-based Baylor Scott and White is outsourcing, laying off or retraining 1,700 employees in five departments. The system laid off a third of its workforce in May and a third of its corporate finance staff in December.

By Hailey Mensik • May 7, 2020

AHA says hospital COVID-19 losses top $50B per month

The American Hospital Association estimate counts the first four months of the pandemic, including a forecast through June. It comes as the lobby pushes for additional aid on top of the $175 billion Congress has allocated so far.

By Ron Shinkman • May 6, 2020

For-profit hospital chains only saw beginning of COVID-19 impact in Q1

Companies started to see volumes plummet in the end of March as a result of the pandemic, but the effect on overall financial results was relatively limited. That could be a different story for the second quarter.

By Shannon Muchmore • May 6, 2020

Tenet Q1 volumes plunge, though execs eye May as 'beginning of the recovery'

Despite the hit from COVID-19, the system was still able to swing back to black and delivered net income of $94 million compared to a net loss during the first quarter of 2019.

By Samantha Liss • May 5, 2020

Cardiovascular societies offer roadmap to restart TAVR, other postponed surgeries

As more states ease coronavirus-driven restrictions on elective medical care, North American cardiovascular groups laid out stages of safe reintroduction for invasive procedures and diagnostic imaging.

By Nick Paul Taylor • May 5, 2020

Judge dismisses New York nurses lawsuit over COVID-19 concerns, but urges resolution

Despite losing the legal battle, the nurses association said Montefiore Medical Center agreed to a number of provisions, including providing nurses with properly fitting N95 masks daily and sick pay to those out with COVID-19.

By Samantha Liss • May 4, 2020

Hospital, nursing groups join forces to lobby Congress for more COVID-19 funding

The groups requested funding to cover the cost of child care for nurses, physicians and other hospital staff as well as housing and transportation support, enhanced pay and free, regular COVID-19 testing.

By Ron Shinkman • May 4, 2020

HHS starts doling out $12B in CARES funds to 395 hospitals in COVID-19 hot spots

Another $10 billion is being directed toward nearly 8,000 rural hospitals, which will receive a minimum base payment and a percentage of their annual expenses.

By Shannon Muchmore • Updated May 4, 2020

CMS rolls back more Medicare, telehealth regs for providers working through pandemic

Accountable care organizations also scored a major win in the Thursday rule drop, with the agency pledging they wouldn't be dinged financially for lower-than-expected health outcomes in their patient populations from COVID-19.​ 

By Hailey Mensik • May 1, 2020

COVID-19 cases are rising in rural America, and its hospitals may be unprepared

A Kaiser Family Foundation analysis finds the COVID-19 caseload and death rate in rural counties is now outpacing urban areas. Georgia has a county with the most deaths per capita but has started reopening its economy against the advice of public health experts.

By Ron Shinkman • May 1, 2020

Teamsters union urges Tenet shareholders to reject CEO pay raise at upcoming meeting

One of the country's biggest labor unions, which helps fund its pension program through Tenet stock ownership, raised the alarm in a Wednesday letter to other shareholders and urged them to reject the measure at the annual meeting.

By Hailey Mensik • April 30, 2020

Q&A with Cerner's chief client and services officer on the vendor's Q1, COVID-19

Healthcare Dive talked with John Peterzalek about how the four-decade-old vendor is changing its priorities amid the outbreak and the status of some embattled federal projects.

By Rebecca Pifer Parduhn • April 30, 2020

CHS takes big hit in April, but eyes resumption of elective surgeries in May

The 99-hospital chain also said it plans to stash its CARES funding away as a "second quarter benefit to revenue" pending SEC approval, speaking to investors after reporting first quarter results.

By Hailey Mensik • Updated April 29, 2020