Signature Psychiatric Hospital will close its two locations in Kansas City, Mo., and Liberty, Mo., affecting 154 employees. 

A West Virginia hospital that closed in 2020 has received a license that will allow it to operate the 76-bed facility, according to a Sept. 16 report from CBS affiliate WOWK.  

Hospital consolidation is gathering momentum across the country and is poised to grow on a much larger scale than before the pandemic, mirroring trends seen in other industries such as banking.

On average, supply costs comprise about 10.5% of a hospital's budget, the American Hospital Association said in its "Cost of Caring" report, citing data from Strata Decision Technology. 

Mercy Health Select, an accountable care organization part of Cincinnati-based Bon Secours Mercy Health, has welcomed University of Toledo Physicians to its Medicare Shared Savings Program.

Corvallis, Ore.-based Samaritan Health Services has laid off about 80 employees, around 1% of its workforce, and has implemented temporary pay cuts for senior leaders for the remainder of 2024.

Cleveland-based University Hospitals posted an operating loss of $118.9 million (-3.8% margin) in the first half of 2024, compared to a loss of $73.9 million (-2.5% margin) over the same period in 2023, according to its financial report released Sept. 13. 

While many hospitals are continuing to see margin improvements, other facilities continue to face financial setbacks related to cost and workforce challenges, among others, ultimately leading to service cuts and closures. 

Revenue cycle automation platform Candid Health raised $29 million in Series B funding. 

The rising cost of care, growing Medicare Advantage pain points, and frustrations over not receiving appropriate or timely payments from commercial insurers are key factors driving health systems to take a tougher stance in contract renewal negotiations.

The hospital workforce is critical to the care process and is most often the largest expense on a hospital or health system's balance sheet. Even before the pandemic, labor expenses — which include costs associated with recruitment and retention, employee benefits and incentives — accounted for more than 50 percent of hospitals' total expenses, according to the American Hospital Association. 

Portland, Maine-based Saint Joseph's Rehabilitation and Residence, a post-acute facility and subsidiary of Portland-based MaineHealth Maine Medical Center, will close Sept. 20 to create a path for an updated facility to offer stronger long-term care amenities. 

Tampa (Fla.) General Hospital's CEO is shedding more light on the hospital's plans to invest $162 million next year to support greater integration with USF Health, its university affiliate. 

Southwestern Health Resources, a 31-hospital joint venture, conducted a mass layoff affecting 129 employees on Sept. 10. 

Health system leaders face mounting challenges that require bold, innovative strategies to ensure long-term financial sustainability and operational efficiency. Rising costs, workforce shortages and payer challenges are reshaping how hospitals operate, with many rethinking traditional partnerships, tackling revenue cycle complexities and exploring new M&A models.

Dallas-based Steward Health Care received approval from U.S. Bankruptcy Court Judge Christopher Lopez to sell Wadley Regional Medical Center at Hope (Ark.) to Hope-based Pafford Health Systems for $200,000 during a Sept. 12 court hearing. 

Minneapolis-based Allina Health reported an operating loss of $63.2 million (-4.5% margin)in the second quarter, a 49% improvement on the $122.7 million loss (-9.6% margin) reported in the second quarter of 2023.

Hospital and health system payroll continued to steadily rise in August, according to Fitch Ratings, which expects more of the same in September.

Nashville, Tenn.-based Meharry Medical College has received a $20 million gift from an anonymous donor following its $175 million investment from Bloomberg Philanthropies.

Joanna Weiss held several leadership positions within Tampa, Fla.-based Moffitt Cancer Center before being named CFO in May.