Today's Top 20 Health Finance Articles
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Senator demands CHS find 'trustworthy buyer' for Pennsylvania hospitals
U.S. Sen. Bob Casey has alleged that Franklin, Tenn.-based Community Health System prioritizes profits over quality care and is demanding the system find a trustworthy buyer for two of its Pennsylvania hospitals it plans to sell. -
HCA slashes contract labor costs by 25.7%
In the second quarter, Nashville, Tenn.-based HCA Healthcare saw its net income increase 25% year over year to $1.5 billion, partly due to the health system's success in reducing its contract labor costs. -
Sale deadline for certain Steward hospitals, physician group extended again
Dallas-based Steward Health Care has again filed a notice to extend the sale deadline for some of its hospitals and physician group, Stewardship Health. -
Lurie Children's conducts layoffs
Ann & Robert H. Lurie Children's Hospital in Chicago has laid off a "very small" number of employees after a comprehensive budget review, the hospital confirmed in a July 27 statement shared with Becker's. -
Massachusetts to give Steward $30M to keep hospitals running
Massachusetts Gov. Maura Healey's administration has dedicated $30 million to financially troubled Dallas-based Steward Health Care's hospitals in the state to ensure operations through the end of August. -
How HCA, Tenet, CHS and UHS performed in Q2
Four of the largest for-profit hospital operators reported mixed earnings in the second quarter of 2024; three systems reported increases in first-quarter net income while one system posted a net loss for the second consecutive quarter: -
Providence trims family medicine resident slots
Providence's family medicine residency program is cutting the number of new medical school graduates it recruits annually from 10 to four. The cuts, driven by a decrease in federal funding, will take effect next June, The Spokesman-Review reported July 25. -
Steward to close 2 Massachusetts hospitals by end of August
Dallas-based Steward Health Care plans to close two of its Massachusetts hospitals: Dorchester, Mass.-based Carney Hospital and Ayer, Mass.-based Nashoba Valley Medical Center. -
DOJ: Why Optum backed out of Steward deal
The Justice Department pointed to antitrust scrutiny for why UnitedHealth Group's Optum backed out of its planned acquisition of Dallas-based Steward Health Care's physician group, Stewardship Health. -
Median health system margins steady at 2.3%, expenses rise
Average health system operating margins held steady in June while hospital margins dropped slightly, according to Strata's Monthly Healthcare Industry Financial Benchmarks, published July 25. -
Mount Sinai gets conditional approval to close Beth Israel
The New York Department of Health has given New York City-based Mount Sinai conditional approval to close Beth Israel after months of reviewing the health system's closure plan. -
US economy grew 2.8% in Q2, healthcare leading service contributor
The U.S. economy saw a 2.8% increase in gross domestic product in the second quarter of 2024, reflecting a spike in consumer spending, nonresidential fixed investment and private inventory investment. -
HCA, Tenet profits spike in Q2: 10 things to know
HCA Healthcare and Tenet Healthcare, two of the largest for-profit health systems in the U.S., reported higher net incomes in the second quarter of this year than in the same period of 2023. -
New York-Presbyterian hospital to close rehabilitation unit
New York (City)-Presbyterian is seeking approval from the state Department of Health to close the 16-bed rehabilitation unit at New York City-based Columbia University Irving Medical Center and transition it to in-patient beds. -
Medical Properties Trust sells Arizona hospital, 7 EDs for $160M to CommonSpirit subsidiary
Birmingham, Ala.-based Medical Properties Trust, one of the world's largest healthcare real estate owners, has completed the $160 million sale of a hospital and seven freestanding emergency department facilities to San Francisco-based Dignity Health, part of Chicago-based CommonSpirit Health. -
3 for-profit systems raise 2024 outlook
Three publicly traded for-profit health systems raised their 2024 financial outlooks in the release of their second quarter earnings reports: -
Tenet built to 'thrive in any variety of political and regulatory environments': CEO
Tenet Healthcare CEO Saum Sutaria, MD, said that as the for-profit system fully emerges from the pandemic, its "repositioned portfolio of businesses is generating stronger results with attractive margins and strong free cash flow generation." -
UHS net income up 69% in Q2: 5 things to know
King of Prussia, Pa.-based Universal Health Services posted a net income of $289.2 million in the second quarter of 2024, a 68.8% increase from the $171.3 million it posted in the same quarter last year, according to its July 24 earnings report. -
CHS posts $13M Q2 net loss; more hospital sales on the horizon
Franklin, Tenn.-based Community Health Systems reported an operating income of $238 million (7.6% margin) in the second quarter, down slightly from $246 million (7.9% margin) during the same period last year. -
All Massachusetts Steward hospitals have received some form of bids, Governor says
All of Dallas-based Steward Health Care's Massachusetts hospitals have received some form of a bid, a spokesperson for Massachusetts Gov. Maura Healey confirmed with Becker's.
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