Today's Top 20 Health Finance Articles
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Providence deploys restructuring, renewal plan
Renton, Wash.-based Providence is deploying a "restructuring and renewal" plan to address medium-term challenges and position its core assets for performance across multiple industry scenarios in the coming years, the health system said in its March 7 financial report. -
Steward Florida hospital cuts staff, services
Miami-based North Shore Medical Center, part of Dallas-based Steward Health Care, has started conducting layoffs as part of cuts to some of its programs amid the health system's continued financial struggles. -
Large health system vs. payer profits in 2023
A majority of the nation's largest health systems and payers have filed their fourth-quarter earnings reports. Becker's has compiled their year-end net incomes and losses to examine where the healthcare financial landscape stands among the largest players as of Dec. 31. -
Why Americans lie about money
More than half of Americans have been increasingly worried about money — and over one-third are embarrassed by their finances, according to a recent study from Wells Fargo. -
RWJBarnabas drops employee GLP-1 coverage for weight loss
West Orange, N.J.-based RWJBarnabas Health has ended coverage under its employee health plan for GLP-1s when prescribed for weight loss, a system spokesperson confirmed with Becker's. -
Providence reduces operating deficit by $500M
Renton, Wash.-based Providence reported a $1.2 billion operating loss in 2023 — an improvement from a $1.7 billion operating loss in 2022, according to its March 7 financial report. -
Global healthcare reimbursements to exceed $36B by 2030, study predicts
A report by Fairfield Market Research, a U.K.-based market research provider, suggests that the global healthcare reimbursement market could reach $36 billion in value by the end of 2030 due to the increased demand for sustainable and efficient healthcare financing models. -
Healthcare spending package heads to Senate
The Senate is set to consider a package of six appropriation bills this week that includes certain provisions related to healthcare, according to the American Hospital Association. -
Layoffs cool as hospital margins stabilize
Layoffs are slowing at hospitals and health systems as margins gradually improve, but CFOs continue to focus on controlling costs — particularly on the labor and supply fronts — to secure the long-term sustainability of their organizations. -
6 health systems seeking revenue cycle vice presidents
Six hospitals and health systems recently posted job listings seeking revenue cycle vice presidents. -
MGB pediatric practice closing, transferring services
Northampton, Massachusetts-based Cooley Dickinson Hospital, part of Somerville, Mass.-based Mass General Brigham, is closing its South Deerfield, Mass.-based Sugarloaf Pediatrics practice and transitioning services to Amherst, Mass.-based Northampton Area Pediatrics, effective July 1. -
The overwhelming consensus for revenue cycle's top challenge
Ninety percent of health system finance leaders surveyed by the Healthcare Financial Management Association agreed on the top challenge facing revenue cycle teams: denials. -
MSU Health Care to expand 'payvider' model
Last year, MSU Health Care, in partnership with Health Alliance Plan, worked with Henry Ford Health to launch the HAP MSUHC Medicare HMO plan with $0 premium and $0 primary care provider copay. -
Lower reimbursement a leading cause for poor margins, CFOs say
A recent report from the Healthcare Financial Management Association and Eliciting Insights, a healthcare strategy and marketing research company, found that 84% of health systems have cited lower payer reimbursements as a leading cause for low operating margins. -
Philanthropy and Financial Health: Navigating the Future of Not-for-Profit Healthcare
After reading the insightful white paper "No Margin, No Transformation: Why not-for-profit health systems need positive margin" published by Deloitte, I was struck by the complex fiscal challenges healthcare institutions face today. As CEO of the Association for Healthcare Philanthropy (AHP), I am compelled to discuss the crucial role of philanthropy in contributing to healthy hospital margins. -
4 hospitals with uncertain futures
While hospital and health system cuts and closures continue popping up in 2024, particularly across the maternity services side of healthcare, the closure status for certain hospitals remains in limbo, leaving many healthcare workers, patients, and community members searching for answers. -
CommonSpirit expects $1B in cash payments by end of year
CommonSpirit CFO Dan Morissette said the Chicago-based health system expects to receive more than $1 billion in cash payments by end of 2024 or early 2025 on four one-time funding opportunities. -
From arias to RCM: How opera singing helped Henry Ford Health's revenue cycle VP's healthcare career
Before she got into healthcare, Jennifer Rohs, vice president of revenue cycle at Detroit-based Henry Ford Health, was a professional opera singer. -
$83M on the line for New York hospital in need of new CEO
Some Nassau County Democratic legislators and community stakeholders are calling for an overhaul and oversight as Nassau University Medical Center, a 530-bed tertiary care teaching hospital in East Meadow, N.Y., faces significant financial struggles. -
Mount Sinai Beth Israel ending stroke, cardiac services amid hospital closure plans
New York City-based Mount Sinai Health's Beth Israel campus will end its stroke and cardiac services March 10 due to voluntary staff departures since the planned closure of the hospital was shared in September.
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