Today's Top 20 Health Finance Articles
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Dartmouth Health says it will not conduct more layoffs
After laying off 75 workers and eliminating 100 job vacancies in June, Dartmouth Health confirmed through a spokesperson that the health system has "currently no plans for additional layoffs to improve our financial performance," Valley News reported Nov. 27. -
North Carolina distributing $2.6B to hospitals
The North Carolina Department of Health and Human Services is distributing $2.6 billion to 102 hospitals as the state is set to begin its Medicaid expansion program Dec. 1. -
CFOs of private equity-backed companies feel the heat
A survey revealed the vast majority of CFOs working for private-equity portfolio companies are worried about their job security, The Wall Street Journal reported Nov. 27. -
AHA letter backs Medicare programs extension bill for rural hospitals
The American Hospital Association is throwing support behind the Assistance for Rural Community Hospitals Act, which would extend for five additional years the Medicare-dependent hospital program and enhanced low-volume Medicare adjustment. -
Bankrupt Massachusetts health system closes urgent care center
Gardner, Mass.-based Heywood Urgent Care Center is closing to the general public after its parent company, Heywood Healthcare, filed for bankruptcy in October, The Gardner News reported Nov. 27. -
Penn State Health posts $160M annual loss, but FY24 looking up
Hershey, Pa.-based Penn State Health saw a financial loss of $160 million on revenues of $3.8 billion in fiscal year 2023, which ended June 30, the five-hospital system announced in a recent press release. -
Nutex Health gets Nasdaq compliance extension
Houston-based Nutex Health, a micro-hospital network, has received a letter granting a 180-day extension to display compliance with Nasdaq's $1 minimum bid requirement. -
Connecticut hospital looks to close maternity unit
As the rural maternity care crisis roars on, a northwest Connecticut-based hospital could soon be shutting down their birthing unit, CT Insider reported on Nov. 27. -
Tower turnaround continues as operating margin hits -4.2%
West Reading, Pa.-based Tower Health continues to make progress on its performance improvement plan as its operating margin for the three months ended Sept. 30 rose to -4.2% from -8% during the same period in 2022. Its operating cash flow margin also increased from -0.9% to 2.3%. -
UPMC operating loss grows to $176M
Pittsburgh-based UPMC reported a $177 million loss on revenues of $20.6 billion for the nine months ending Sept. 30, compared with a $196 million gain on revenues of $18.9 billion during the same period in 2022. -
Baptist Health tries to clear the air after Drew Memorial layoffs
Following the more than 40 reported layoffs at Monticello, Ark.-based Drew Memorial Hospital in early November, Little Rock-based Baptist Health is looking to clear the air ahead of acquiring the hospital in December, the Advance-Monticellonian reported Nov. 22. -
Providence Group taking over 7 ProMedica-owned SNFs
Toledo, Ohio-based ProMedica Health System is relinquishing control of seven skilled nursing facilities to Providence Group, a for-profit corporation, California Attorney General Rob Bonta announced Nov. 21. -
AdventHealth doubles revenue in 7 years as a 'growth-oriented company'
Altamonte Springs, Fla.-based AdventHealth has doubled its operating revenue in the last seven years, growing from a $9 billion organization into an $18 billion multistate health system. -
CommonSpirit revenue broken down by 5 regions
Chicago-based CommonSpirit recently reorganized its operations by consolidating its eight operating divisions into five regions. -
Another Texas hospital files for bankruptcy
Lion Star Nacogdoches (Texas) Hospital, the group that operates Nacogdoches Memorial Hospital, has filed for Chapter 11 bankruptcy in the Northern District of Texas, according to The Daily Sentinel. -
Walmart Health seeks RCM manager
Walmart Health is seeking a billing and revenue manager, according to a Nov. 21 LinkedIn post. -
The most common medical debt collection complaints
The Consumer Finance Protection Bureau sent more than 60,000 debt collection complaints in 2022, and 8,500 (15%) of those were about attempts to collect a medical bill, according to the agency's annual Fair Debt Collection Practices Act report released in November. -
County reimbursement could help New York hospital reopen maternity ward
Lowville, N.Y.-based Lewis County Health System is close to receiving a reimbursement for the county that could help reopen its maternity ward, CBS affiliate WWNY reported Nov. 21. -
California hospital lays off staff, including executives
Tri-City Medical Center in Oceanside, Calif., is laying off workers to adjust its staffing levels. -
$33M in medical debt erased for Cleveland residents
Cleveland's partnership with RIP Medical Debt has erased $33 million in medical debt for 16,000 city residents to date, Cleveland Scene reported Nov. 20.
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