Today's Top 20 Health Finance Articles
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SSM Health cuts operating loss by 76%
St. Louis-based SSM Health reported a $58.5 million operating loss (0.6% margin) in 2023, an 76% improvement on the $248.9 million loss (2.7% margin) in the previous year. -
Nearly half of health systems are considering dropping Medicare Advantage plans
"Onerous" authorization requirements and high denial rates have health systems considering whether to drop Medicare Advantage plans, according to a report from the Healthcare Financial Management Association and Eliciting Insights. -
Where health system CFOs are spending their time
Health system CFOs spend nearly a quarter of their time on revenue cycle management, according to a report from the Healthcare Financial Management Association and Eliciting Insights. -
8 health systems with credit rating upgrades
Here are eight health systems that have had their credit ratings upgraded by Fitch Ratings or Moody's Investor Services in 2024: -
2 HSHS Wisconsin hospitals close
Chippewa Falls, Wis.-based St. Joseph's Hospital and Eau Claire, Wis.-based Sacred Heart Hospital, both part of Springfield, Ill.-based Hospital Sisters Health System, have closed, a spokesperson for HSHS confirmed with Becker's on March 22. -
A leading money loser for hospitals: Kaufman Hall
Obstetrics and delivery services are one of the leading money losers of all hospital services, and a growing number of rural hospitals are closing obstetric departments to protect the financial viability of the overall enterprise, according to a recent analysis by Kaufman Hall. -
California hospital ineligible for bankruptcy, court rules
Hollister, Calif.-based Hazel Hawkins Memorial Hospital failed to satisfy all the statutory requirements to remain in Chapter 9 bankruptcy, according to a March 21 Bankruptcy Court ruling. -
Health system finance teams ripe for change
Debra Thomas, senior vice president and CFO of the East Florida Division at AdventHealth, sees a big opportunity to transform her finance team in the coming years as the healthcare delivery system evolves. -
New omnibus bill up for vote — What it means for healthcare
The House and Senate Appropriations committees have released the Further Consolidated Appropriations Act of 2024, which would fund all remaining federal agencies through the fiscal year ending Sept. 30. -
Indiana hospital closing birthing center, transferring services
Columbia City, Ind.-based Parkview Whitley Hospital, part of Fort Wayne, Ind.-based Parkview Health, is closing its family birthing center and relocating it to the new Warsaw, Ind.-based Parkview Kosciusko Hospital, tentatively scheduled for Sept. 1. -
'Get ahead and stay ahead': Sanford Health CFO on improving margins
As hospital margins remain a mixed bag, Sioux Falls, S.D.-based Sanford Health CFO Scott Wooten encouraged other healthcare leaders to make hard decisions as early as possible to help improve their margins. -
36 rural hospitals have closed since 2020
Jellico (Tenn.) Regional Hospital, a 25-bed critical access facility, closed March 9, making it the 36th rural hospital to shutter or no longer provide inpatient services since 2020, according to data compiled by the University of North Carolina's Cecil G. Sheps Center for Health Services Research. -
How many Americans have $0 in retirement savings?
More than a quarter of Americans have not contributed a penny to their retirement savings, according to a recent survey from GoBankingRates. -
Steward Louisiana hospital closes inpatient rehab unit
West Monroe, La.-based Glenwood Regional Medical Center, part of financially troubled Dallas-based Steward Health Care, closed its inpatient rehabilitation unit March 20. -
4 Conifer RCM partnerships in 2024
Conifer Health Solutions has added and expanded several revenue cycle partnerships in 2024, many of which were part of hospital sales involving its parent company, Dallas-based Tenet Healthcare. -
HCA's 5-pronged business strategy
Nashville, Tenn.-based HCA Healthcare outlined its business strategy in its 2023 annual shareholders report released March 15. -
Banner reports $282.8M operating income, 2% margin
Phoenix-based Banner Health posted an operating income of $282.8 million (2% margin) in 2023, a substantial mprovement on the $16.6 million operating gain (0.1% margin) reported the previous year. -
Intermountain posts $137M operating income, 0.9% margin
Salt Lake City-based Intermountain Health posted an operating income of $137 million (0.9% margin) in 2023, improving slightly on the $121 million gain (0.9% margin) reported the previous year. -
Norton aims to raise $200M
Louisville, Ky.-based Norton Healthcare and Norton Children's launched the "Just Imagine" campaign March 20 to raise millions in support of health equity and expanding specialty care. -
The financial losses for hospitals stemming from Change attack: 5 numbers to know
Hospitals, pharmacies and medical groups nationwide are continuing their efforts to recover from the cyberattack on UnitedHealth Group's Change Healthcare in February.
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