Burlington, Mass.-based Tufts Medicine is eliminating hundreds of jobs as it outsources its outreach laboratory business and some operating assets to Labcorp, according to Worker Adjustment and Retraining Notification documents filed Aug. 11. However, the health system said it will work with Labcorp to have the majority of affected employees transition to a similar position with Labcorp.  

Here are 10 hospitals and health systems that recently posted job listings seeking CFOs.

Here are 53 health systems with strong operational metrics and solid financial positions, according to reports from credit rating agencies Fitch Ratings, Moody's Investors Service and S&P Global in 2023. 

Hospital and insurer contract negotiations are often framed as an industry gauntlet, a defined period of time with an objective outcome where big talk does not translate to money. But reimbursement rates secured in new contracts are only one piece of hospitals' payer-induced headaches.

Tacoma, Wash.-based MultiCare Health reported $145.9 million operating losses on revenue of $2.4 billion for the first half of the year.

Grand Blanc, Mich.-based McLaren Health Care posted $62.9 million in operating income for the second quarter, a 28 percent dip from the $87.4 million it reported in the prior-year period, according to financial documents published Aug. 10.

New York City-based Hospital for Special Surgery, one of the most renowned orthopedic care hospitals worldwide, reported net income of $94.7 million for the first half of the year.

Here is a summary of recent credit downgrades and outlook revisions for hospitals and health systems.

Minneapolis-based Fairview Health Services posted a $41 million operating loss on $1.8 billion in revenue in the second quarter, down from a $95.2 million loss in the prior-year period, according to the Star Tribune.

Proper investment in nursing is what is needed and not empty executive platitudes, says Rebecca Love, MSN, RN, TedTalk speaker and chief clinical officer for nurse staffing company IntelyCare.

Louisville, Ky.-based Norton Healthcare reported a significant reduction in its contract labor expenses during the second quarter even as its overall expenses increased.

Miami-based Cano Health plans to cut about 700 workers, or almost one-fifth of its workforce, and seek a sale of the company amid concern it may not survive within the next year.

Rural hospitals are continuing to close maternity wards across the country due to staffing issues and declining births, The Wall Street Journal reported Aug. 10.

Moody's Investors Service has downgraded Mount Sinai Hospital's rating to "Baa1" from "A3" as the agency expects the system's operating performance and liquidity to be below historical averages for several years.

The consumer price index, a measure of the prices of goods and services, rose 3.2 percent year over year in July.

A number of health systems reported on their debt levels as second-quarter results began to trickle in during July. Some of the information below on such debt levels is also garnered from credit rating reports.

Healthcare operating cash flows may be gradually improving but will take years to recover and may never reach pre-pandemic margins, Moody's warned in an Aug. 9 report.

Nonprofit hospitals have been hit hard over the last 18 months with rising costs, workforce shortages, inflation and more leading to tighter margins and tough decisions.

The American Hospital Association has labeled CMS' $957 million cut to Medicare disproportionate share hospitals for 2024 as "simply unacceptable" and criticized the agency for a lack of transparency in how it calculates the uninsured rate and its effect on DSH payments. 

Sacramento, Calif.-based Sutter Health has reported net income of $265 million on revenues of $3.8 billion for the second quarter.