Today's Top 20 Health Finance Articles
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Downgraded Penn State Health operating losses persist
Hershey, Pa.-based Penn State Health recent operating losses continued to cascade, reporting a $125.6 million such loss in the period ending March 31 on revenue of $2.8 billion. -
$185M in savings identified at Marshfield Clinic; job cuts may also be involved in recovery
Marshfield (Wis.) Clinic Health System failed to meet its debt service obligations for the fiscal year ending Dec. 31 and was required to hire a consultant to recommend improvements as a result. -
Banner Health names CFO
Phoenix-based Banner Health named Staci Dickerson CFO and executive vice president. -
Texas post-acute facility closes, lays off 48
Nederland, Texas-based post-acute facility Mid Jefferson Extended Care Hospital closed and the 48 full-time clinical and non-clinical staff have been laid off, Fox affiliate KFDM reported May 26. -
Trinity Health reports $283.5M operating loss
Livonia, Mich.-based Trinity Health, one of the largest nonprofit health systems in the country, reported an operating loss of $283.5 million for the first nine months of its fiscal year up to March 31. -
8 latest hospital bankruptcies, closures
From reimbursement challenges to declining patient volumes and spiraling labor costs, many factors lead hospitals to shut down or enter bankruptcy. -
Private equity firm invests in RCM company Alpha II
Private equity firm TA associates signed a definitive agreement to make a significant growth investment in revenue cycle management company Alpha II. -
Faster diagnosis and targeted care can drive down menopause health costs, report says
Insufficient diagnosis numbers and unnecessary tests and care result in a "massive cost hiding in plain sight" for women with menopause symptoms, a new report says. -
Walgreens trims 10% of corporate staff
Walgreens Boots Alliance is laying off about 10 percent of its corporate workforce, or 504 employees, the Chicago Sun-Times reported May 25. -
Hospitals say Mississippi grant program is not helping as expected
Mississippi lawmakers set up a more than $100 million grant program to support the state's struggling hospitals, but healthcare officials said the program is not helping as intended, NBC affiliate WLBT reported May 25. -
Montefiore edges into black with Q1 $31.8M operating gain
New York City-based Montefiore Health System, which is expected to struggle with sustained operating challenges well into next year, reported a $31.8 million operating gain in the first quarter. -
Lenders invest $375M in Prospect Medical Trust
Affiliates of Los Angeles-based Prospect Medical Holdings secured $375 million in new financings from third-party lenders, according to a May 24 news release from Medical Properties Trust. -
From financial emergency to bankruptcy filing: A timeline of Hazel Hawkins' efforts to keep its doors open
San Benito Health Care District, the board overseeing Hollister, Calif.-based Hazel Hawkins Memorial Hospital, voted May 22 to file for Chapter 9 bankruptcy, a move coming a little more than six months after the board declared a fiscal emergency. It's a decision officials said will keep the hospital open as it continues to search for a partner or buyer. -
293 hospitals at immediate risk of closure
There are 293 rural hospitals at immediate risk of closure due to inflation, staffing shortages and other financial stress, according to the Center for Healthcare Quality & Payment Reform. -
UPMC operating profit doubles to $100M in Q1
Pittsburgh-based UPMC's operating income hit $100.4 million in the first quarter — up from $50.4 million in the prior year period — due to increased patient volumes, the growth of its insurance division and equity earnings in its investment in CarepathRx. -
UofL Health outlook revised to negative after 'meaningful' operating decline
Louisville, Ky.-based UofL Health saw its outlook revised to negative after nine-month financials ending March 31 revealed operating income slumping to $821,000, S&P Global said May 24. The rating agency affirmed its "A-" long-term rating on a series of bonds. -
CommonSpirit revenue broken down by division
Chicago-based CommonSpirit posted an operating loss of $658 million for the three months ended March 31 — down from $591 million for the same period in 2022 — as rising costs and labor challenges persist. -
El Camino Health follows rating upgrades with $141.4M operating gain
Mountain View, Calif.-based El Camino Health has reported an operating gain of $141.4 million for the nine months ending March 31 on revenue of just over $1 billion. -
Medical Properties Trust sells 7 hospitals
Birmingham, Ala.-based Medical Properties Trust has completed the sale of seven Australian hospitals for more than $475 million, with proceeds used to reduce its Australian term loan. -
Analysis suggests only a 'sliver' of California's hospitals are truly in crisis
Headlines abound about California's hospitals being in financial difficulties, but a large majority of them don't need bailouts, according to a May 25 CaliforniaHealthline report.
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