On the heels of his first year as CFO of Fairfield, Calif.-based NorthBay Health, Joseph D'Angina is sharing why it's important for health system financial leaders to keep their eye on the prize in the new year. 

Iowa Sen. Chuck Grassley and Rhode Island Sen. Sheldon Whitehouse, ranking member and chair of the Senate Budget Committee, respectively, have launched an investigation into the effects of private equity ownership on hospitals.

Many hospitals and health systems are continuing to make significant changes due to continued financial challenges and restructuring. 

December is off to a rocky start for two former hospital CFOs who have agreed to pay a significant amount in legal settlements over the last week.

Here are 20 revenue cycle management mergers, acquisitions and partnerships reported by or shared with Becker's in 2023:

York, Pa.-based WellSpan Health reported an operating loss of $5.8 million (0% margin) in the fiscal year first quarter ending Sept. 30, down from an $11.6 million gain (0.1% margin) in the same period last year, according to financial documents published Dec. 4 

Pullman (Wash.) Regional Hospital received a unanimous Regional Hospital Board of Commissioners approval to move forward with a patient care expansion project.

The Gerald A. and Karen A. Kolschowsky Foundation has donated $25 million toward transformative research and innovative learning for Sarasota (Fla.) Memorial Health Care System.

Financial challenges have forced Community Memorial Hospital to cut several services, with CEO Roy Davis giving the hospital a "50-50" chance of surviving, CBS affiliate WANE reported Dec. 6.

Farmington, Conn.-based UConn Health hired a healthcare investment consulting firm to boost revenue as it contends with declining state aid, the Connecticut Mirror reported Dec. 6. 

As financial challenges and labor shortages continue to plague much of the healthcare industry, many hospitals and health systems have decided to pause, shrink or remove their home health services.

Some health systems in Massachusetts have filed for bankruptcy or ended services this year, as they navigate financial struggles.

In an effort to continue expansion across the state, Miami-based HCA Florida Kendall Hospital has opened a new freestanding emergency room.

Becker's has reported on 10 health systems that have opted to outsource finance jobs or other revenue cycle functions in 2023:

Legacy Health and Oregon Health & Science University, both in Portland, are still working on the completion of a merger agreement, The Lund Report shared Dec. 5.

Walnut Creek, Calif.-based John Muir Health is laying off 164 employees in Concord ahead of a planned sale of its home health services division to Cornerstone Home Healthcare.

Columbus-based OhioHealth has opened the doors to its 15th hospital, OhioHealth Pickerington Methodist Hospital.

It's been an expensive last few months for Nashville, Tenn.-based HCA Healthcare as the hospital operator continues to invest in large projects and multiple transactions. 

R1 RCM is acquiring revenue cycle management company Acclara from Renton, Wash.-based Providence. 

Winston-Salem, N.C.-based Novant Health is laying off IT workers as the system changes up its IT system, a spokesperson for the health system told Becker's.