Today's Top 20 Health Finance Articles
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Demolition kicks off for closed Virginia hospital
Demolition began Aug. 26 on shuttered DePaul Medical Center in Norfolk, Va., and is expected to wrap up next fall, Martin Thomas, a councilman in Norfolk, shared in an Aug. 22 Facebook post. -
Ochsner Health grows operating margin to 2.7% with $101.5M gain
New Orleans-based Ochsner Health posted an operating income of $101.5 million (2.7% margin) for the six months ended June 30, a significant increase from the $28.2 million operating gain (0.8%) margin reported in the same period last year. -
Ohio hospital payroll delayed over processing error
Some employees at East Ohio Regional Hospital in Martins Ferry, Ohio, did not receive their latest paychecks on time due to a processing issue. -
Community group secures funds to purchase closing Steward Ohio hospital
Warren (Ohio) City Hospital, a collaborative group of business and community leaders, has raised enough money to acquire Dallas-based Steward Health Care's Warren, Ohio-based Trumbull Regional Medical Center, a spokesperson for the organization told Becker's. -
Senator urges Pennsylvania AG to intervene in Crozer sale
Pennsylvania state Sen. Tim Kearney has raised concerns about the lack of transparency and details around the planned sale of Upland, Pa.-based Crozer Health and has called on the state attorney general to step in and conduct a thorough analysis of the deal, the Daily Times reported Aug. 22. -
Healthcare Finance Trends for 2024: An Updated Look
During 2023, healthcare systems, hospitals, and practices made progress rebounding from the pandemic’s many disruptions. While momentum remains positive, significant headwinds persist. -
Penn Medicine merger will be credit positive for Doylestown Health: Moody's
Philadelphia-based University of Pennsylvania Health System's proposed acquisition of Doylestown (Pa.) Health is expected to be credit positive for Doylestown and credit neutral for UPHS, according to Moody's. -
Ochsner to forgive $366M in medical debt
New Orleans-based Ochsner Health is eliminating about $366 million of medical debt for patients across the system, The Times-Picayune reported Aug. 21. -
Risant target Cone Health operating income up 32% through Q3
Greensboro, N.C.-based Cone Health reported a nine-month operating income of $15.2 million (0.7% margin) up from $11.5 million (0.6% margin) posted over the same period in 2023, according to its Aug. 23 financial report. -
Moody's upgrades Maryland system's rating
Moody's upgraded Baltimore-based Mercy Health Services' rating to "A3" from "Baa1." -
As Kettering plans to replace hospital, city enacts moratorium on freestanding EDs
Two weeks after Kettering Health shared plans to replace Greene Memorial Hospital in Xenia, Ohio, with a $44 million medical facility, city officials have implemented a 60-day moratorium on standalone emergency room facilities. -
Tenet stock hits 20-year high
Tenet Healthcare saw its stock price hit a 23-year high this week, landing at $160.50 as of Aug. 23. -
Steward to lay off 944 in Ohio amid hospital closures
Dallas-based Steward Health Care's closure plans for Trumbull Regional Medical Center and Hillside Rehabilitation Hospital, both in Warren, Ohio, will result in 944 employees being laid off, according to WARN notices filed Aug. 21 and Aug. 22. -
PE firm to acquire RCM co. Knowtion Health
Private equity firm Arsenal Capital Partners has signed a definitive agreement to acquire revenue cycle management company Knowtion Health. -
Scripps Health back in black with $109.7M Q3 operating improvement
San Diego-based Scripps Health posted an operating income of $75.8 million (6.2% margin) in the third quarter of 2024, up from an operating loss of $33.9 million (-3.2% margin) posted over the same period last year. -
Steward seeking $1.5M from Pennsylvania, or it will close hospital: AG says
Pennsylvania Attorney General Michelle Henry shared in an Aug. 22 bankruptcy court notice, obtained by Becker's, that Dallas-based Steward Health Care is seeking $1.5 million from the state by Aug. 23 or the health system will submit a closure notice for Sharon (Pa.) Regional Medical Center. -
Louisiana system CFO stresses the need to improve patient transportation
Shelly Soileau, CFO of Opelousas (La.) General Health System, has been in her new role for just over two months, but with 25 years of healthcare experience under her belt, she's hit the ground running with a major focus on one glaring industry challenge: patient transportation. -
New Jersey wipes $61M in patient debt from Prime hospitals
New Jersey Gov. Phil Murphy on Aug. 20 announced that thousands of eligible individuals and families in the state will have some or all of their medical debt eliminated as part of an initiative to make healthcare more affordable and accessible. -
Most common No Surprises Act complaints against payers, providers
CMS released a report on Aug. 20 detailing complaints related to No Surprises Act and ACA compliance. -
MyMichigan operating margin increases to 6.6% in Q4
Midland, Mich.-based MyMichigan Health saw an operating income of $26.7 million (6.6% operating margin) in the fourth quarter of 2024 ended June 30, a 454.8% increase from an operating income of $4.8 million (1.4% operating margin) during the same time period in 2023, according to the health system's Aug. 20 financial report.
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