Renton, Wash.-based Providence, which reported a fiscal 2022 operating loss of $1.7 billion, was downgraded as the 51-hospital system continues to deal with ongoing operational challenges, Fitch Ratings said March 17.

Eastern Niagara Hospital in Lockport, N.Y., is set to close June 17 after years of financial turbulence. 

UMass Memorial Health CFO Sergio Melgar said the Worcester, Mass.-based health system spent "up to $20 million a month" on contract labor as the hospital went into the fiscal year 2022 with 600 open positions, local news outlet GBH reported March 16.

New York City-based Hospital for Special Surgery is expanding its presence on Long Island with the leasing of a large facility for outpatient services, according to a March 16 Long Island Business News report.

Mercy Iowa City hospital, one of 23 affiliated hospitals of Des Moines, Iowa-based MercyOne, was downgraded to "Caa1" from "B1" because of what Moody's on March 16 called "severe cash flow deterioration."

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

Vail (Colo.) Health is a small health system located in the ski-rich Rocky Mountains and perhaps most famous for its world-renowned orthopedic specialist Steadman Clinic.

A large majority of Mississipians confirmed the widespread wish for that state to approve Medicaid expansion even as the governor refuses to entertain the idea.

It's been a bad week for banks and lenders. 

Winston-Salem, N.C.-based Novant Health had ratings affirmed at their current level as the 14-hospital system continues to enjoy robust market share and resilient operating margins even as it faces the typical industry challenges brought on by labor pressures, Fitch Ratings said March 16.

Representatives for both providers and payers say dispute arbitrators are often not following the No Surprises Act, Bloomberg Law reported March 16. 

Providence, R.I.-based Care New England and Lifespan were forced to abandon plans to merge in February 2022 when the Federal Trade Commission filed suit to block the proposed deal.

Robbinsdale, Minn.-based North Memorial Health isn't unusual in reporting a net loss in 2022, but the two-hospital system did show signs of improved operating income in the final quarter as contract labor costs declined, according to a March 16 filing.

Taking on the role of vice president of revenue cycle at Cone Health has felt at times like "drinking from a fire hose," Jason Nelms told Becker's, but added "that's not a bad thing."

The Medicaid and CHIP Payment and Access Commission is concerned that the magnitude of disproportionate share hospital cuts (54 percent in 2024) on the horizon will disrupt the financial viability of some safety-net hospitals and the services they provide, according to MACPAC's March report to Congress. 

Minneapolis-based Allina Health reported an audited operating loss of $195.8 million for the year ending Dec. 31, 2022, as expenses rose almost 7 percent compared with 2021.

Here are seven revenue cycle management companies that rebranded in the past year.

Here is a summary of recent credit rating downgrades and revisions, going back to the last Becker's roundup on Feb. 15.

The newly merged Greensburg, Pa.-based organization made up of Excela Health and Butler Health System has eliminated 13 filled managerial jobs.

CMS has issued initial guidance on key elements of the Medicare Drug Price Negotiation Program for 2026, the first year the negotiated prices will apply.