Today's Top 20 Health Finance Articles
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Low reimbursement rates led to layoffs, Arkansas Heart Hospital CEO says
Bruce Murphy, MD, CEO of Little Rock-based Arkansas Heart Hospital, said low reimbursement rates have led to fewer than 50 employees being laid off since the beginning of the year, Arkansas Business reported Feb. 19. -
Why CFOs are cutting costs even as profits rise
Cost cutting is a top priority for many companies in 2024, even those who are seeing rising profits, The Wall Street Journal reported Feb. 15. -
10 hospitals seeking CFOs
Below are 10 hospitals and health systems that recently posted job listings seeking CFOs. -
New Jersey system gets historic 'A+' credit rating
Camden, N.J.-based Cooper University Health Care has earned an "A+" credit rating from Fitch Ratings after receiving two credit upgrades from S&P Global and Moody's since 2022. -
Mercy Health to lay off some call center workers
Mercy Health has partnered with a third party to manage its contact center for primary care scheduling — a move that will affect a "number of call center positions," a spokesperson for the Cincinnati-based system confirmed to Becker's on Feb. 16. -
CommonSpirit strategy pays dividends, but CFO insists 'still more to do'
Chicago-based CommonSpirit is making significant strides to improve its financial performance — transforming a $440 million operating loss in the fourth quarter of 2022 into a $356 million gain in the fourth quarter of 2023 — but CFO Dan Morissette insists "there is still more to do." -
No Surprises Act dispute volume 13 times higher than estimated
There were 288,810 No Surprises Act disputes initiated during the first six months of 2023, which was 13 times greater than federal agencies initially anticipated, according to a Feb. 15 report from CMS. -
Baylor Scott & White boosts operating margin to 8.3%
Dallas-based Baylor Scott & White Health posted $634 million in operating income (8.3% margin) for the first six months of fiscal year 2024, which ended Dec. 31, 2023, an improvement on the operating income of $561 million (8.2% margin) over the same period of fiscal year 2023. -
3 recently ended Optum contracts
From state behavioral health services to a hospital administrative partnership, these are three Optum contracts reported by Becker's that have recently ended or are planned to end. -
Mayo Clinic expands care network
Rochester, Minn.-based Mayo Clinic has added two Malaysia hospitals to its Mayo Clinic Care Network. -
Mass General Brigham posts $32M quarterly loss; CFO strategy having 'positive impact'
Boston-based Mass General Brigham saw a $32 million operating loss of (-0.6% margin) for the first quarter of the fiscal year 2024, which ended Dec. 31, 2023, improving on an operating loss of $53 million (-1.2% operating margin) over the same period last year. -
CommonSpirit revenue broken down by new operating structure
Chicago-based CommonSpirit, a 142-hospital system, recently reorganized its portfolio by consolidating its eight operating divisions into five regions. -
California hospital plans more layoffs to avoid closure
Ridgecrest (Calif.) Regional Hospital is laying off 31 more employees just two months after it announced plans to layoff 29 others and suspend its labor and delivery unit, Bakersfield.com reported Feb. 15. -
Baystate Health to sell insurance subsidiary
Springfield, Mass.-based Baystate Health reached a deal to sell Health New England, its insurance subsidiary, to Point32Health. -
Sanford doubles operating income to $402M
Sioux Falls, S.D.-based Sanford Health reported an operating income of $402.2 million in 2023, more than double the $192.3 million it posted in 2022, according to its financial report released Feb. 14. -
CommonSpirit exits the red with $356M Q4 gain
Chicago-based CommonSpirit posted an operating income of $356 million (3.5% margin) in the quarter ended Dec. 31, a significant turnaround from the $440 million loss (-5.4% margin) reported in the same period the previous year. -
Healthcare Finance Trends for 2024 – Progress, but Major Challenges Ahead
Healthcare Finance Trends for 2024 by CommerceHealthcare® presents the bank’s annual outlook on major factors commanding leadership attention. Ten themes are identified from analysis of a broad spectrum of industry data. -
3 healthcare organizations expanding access amid HSHS closures
Three additional healthcare organizations are stepping up to the plate to ensure patient care access for those affected by Springfield, Ill.-based Hospital Sisters Health System's closure of two hospitals and clinics it operates with Green Bay, Wis.-based Prevea Health. -
Steward Florida hospital shutters obstetrics unit early
Miami-based North Shore Medical Center, part of Dallas-based Steward Health Care, has closed patient care in its obstetrics unit, effective Feb. 14, a few weeks earlier than its initial March 10 planned closure. -
'Long concerned': Massachusetts lawmakers probe Cerberus for Steward answers
Lawmakers in Massachusetts have sent a letter to Cerberus Capital Management, a private equity firm that founded Dallas-based Steward Health Care, demanding answers related to the health system's financial troubles, The Boston Globe reported Feb. 15.
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