The Medicare Payment Advisory Commission on Jan. 12 recommended that Congress provide hospitals with a 1 percent increase over current Medicare rates in 2024 to offset inflationary pressures and maintain access to care for Medicare beneficiaries, Axios reported. 

Large bankruptcy filings in the healthcare sector increased 84 percent in 2022 over the previous year, but the hospital sector managed to escape relatively unharmed, according to a Jan. 12 report from restructuring firm Gibbins Advisors.

Hollister, Calif.-based Hazel Hawkins Memorial Hospital has received a $3 million loan from the California Health Facilities Financing Authority that will extend the estimated time it will run out of funds to mid-March, CBS affiliate KION reported Jan. 12. 

Toledo, Ohio-based ProMedica plans to lay off 262 employees, a move tied to its exit from a skilled-nursing facility joint venture late last year. 

Here are 10 health systems with strong operational metrics and solid financial positions, according to reports from credit rating agencies Fitch Ratings and Moody's Investors Service.

Community hospital networks that merge with academic medical centers can support various strategic goals for the larger entity and its community hospitals partners, Kaufman Hall outlined in a Jan. 12 analysis.

Many Americans are living paycheck to paycheck, and find themselves choosing food, mortgage/rent and utilities over unbudgeted, unplanned medical care.

Community hospital USC Arcadia (Calif.) had both its bonds and overall rating affirmed Jan. 12 at "BBB+" by Fitch amid expectations it will improve its operating profitability. The group's recent affiliation with the USC Keck School of Medicine will also benefit both entities strategically, Fitch said.

Nashville, Tenn.-based HCA Healthcare, the country's largest hospital operator, is accused of understaffing its hospitals and facilities at the expense of patient care and focuses more on making a profit, a new report claims. HCA disputes the claims.

Community members in Toppenish, Wash., are looking into creating a public hospital district to restore labor and delivery services to Astria Toppenish Hospital, YakTriNews reported Jan. 11.

Memphis, Tenn.-based Baptist Memorial Health Care, one of the larger healthcare systems in the U.S., reported an audited net loss of $275.4 million for fiscal 2022 as it struggled with higher expenses and losses on its investment portfolio. The loss compared with a net gain of $186 million in 2021.

It's been a familiar story in recent months of healthcare systems seeing their expenses far outpace their revenues.

The Consumer Price Index climbed 6.5 percent in the year through December, down from 7.1 percent in November and the slowest rate since October 2021, The New York Times reported Jan. 12.

Hospitals and health systems need to scale to thrive in today's marketplace but with a tumultuous financial year in the rearview mirror and no immediate respite in site, many will pursue strategic partnerships as a way to stay afloat, according to a Jan. 9 report from KPMG. 

Private equity firm Alpine Investors has invested in Medusind, a revenue cycle management company. 

The average contract labor spend among hospitals more than doubled between 2011 and 2020, with many hospitals and health systems now making concerted efforts to curb this expense category. 

Pauls Valley, Okla.-based Valley Community Hospital CEO Madhukar Sharma told Pauls Valley Democrat on Jan. 11 that the hospital is staying open, despite community rumors to the contrary.

While 2022 was one of the most difficult years financially for nonprofit healthcare systems, the outlook for 2023 does provide some cautious optimism, Fitch Ratings analysts said on a webinar Jan. 11.

CMS on Jan. 11 unveiled key dates for the first year of the Medicare Drug Price Negotiation Program under the Inflation Reduction Act, a $739 billion package that aims to lower drug costs.

Salem (Ore.) Health has had its "AA-" rating affirmed on bonds the health system owns as well as for its overall rating, Fitch said Jan. 11. The outlook for the system is stable.