Hicksville, Ohio-based Community Memorial Hospital permanently closed its doors Aug. 31 after temporarily shutting down in May due to financial challenges, Bill Cherry, former CEO of Community Memorial Hospital, confirmed with Becker's. 

Big South Fork Medical Center in Oneida, Tenn., saw a 30% drop in cash received in June and July compared to previous months, which then delayed its Aug. 16 payroll, CEO Hal Leftwich emailed to Becker's.

A theme has taken shape as hospitals posted a calendar-year-to-date operating margin index of 4.1% in July, according to Kaufman Hall's July "National Hospital Flash" report.

Sue Perrotty, CEO of West Reading, Pa.-based Tower Health, told Becker's that health systems need to move away from the "we built it, we love it" mindset. 

The bankruptcy saga of Dallas-based Steward Health Care is a complex one with no clear end in sight. As the for-profit health system works to offload the remainder of its 31 hospitals, the million-dollar question remains: What happens to the hospitals that don't receive a proper bid?

Two Massachusetts health systems trimmed second-quarter operating losses under the leadership of new CFOs, while the new CFO at a Missouri system aims to bolster margins and meet growth goals in fiscal 2025. 

Moody's has downgraded Jackson-based West Tennessee Healthcare's rating from "A2" to "A3."

Christus Health Ark-La-Tex, part of Irving, Texas-based Christus Health, has entered into a binding asset purchase agreement for Dallas-based Steward Health Care's Wadley Regional Medical Center in Texarkana, Texas. 

Columbia-based University of Missouri Health Care reported an operating income of $49.3 million (2.8% margin) for the fiscal year ending June 30, improving on the $34.7 million gain (2.1% margin) reported in the previous fiscal year.

Philadelphia-based Rite Aid has completed financial restructuring and successfully emerged from Chapter 11 bankruptcy after the U.S. drugstore chain filed for protection last October. It will now operate as a private company, according to a Sept. 3 news release. 

Boston Medical Center has reached agreements with Dallas-based Steward Health Care to acquire and run both Brockton-based Good Samaritan Hospital and St. Elizabeth's Medical Center.

From two private equity firms striking a deal to acquire R1 RCM to Conifer lining up a contract to provide RCM services to five Alabama hospitals, here are eight revenue cycle management headlines that Becker's reported in August: 

MercyOne Newton (Iowa) Medical Center is pausing its labor and delivery services indefinitely, effective after Oct. 15 due to Newton Clinic ending its recruitment of physicians who are dedicated to labor and delivery obstetrics services.

Health systems' second-quarter financial results point to the beginning of a slow and sustained recovery, but challenges including high labor costs and the ongoing disconnect between revenue generation and expense requirements persist. 

Healthcare is seeing an uptick in health system mergers and acquisitions post-pandemic, reflecting the industry's ongoing shift towards consolidation to enhance care delivery, expand reach and strengthen financial stability. 

Despite continued high labor costs, inflation and the rising costs of medical equipment and supplies, some nonprofit health systems reversed operating losses from the second quarter of 2023 and are back in the black in the second quarter of this year.

While many health systems continue to see sustainable improvements to their financial results, others are still working to improve upon their losses. 

Surveys of employers are making one thing clear: Healthcare costs are rising faster than they did before the pandemic, and those costs are being driven by inflation, the increasing use of weight loss medications, and higher overall medical expenses. As employers and insurers grapple with these escalating costs, hospitals will undoubtedly be affected. 

Chillicothe, Ohio-based Adena Health System reported $3.3 million in operating income (1.8% margin) in the second quarter, reversing a $2.9 million loss (-1.6% margin) from the same period in 2023, according to financial documents published Aug. 27.

Dallas-based Steward Health Care is set to close two of its Massachusetts hospitals, Boston-based Carney Hospital and Ayer-based Nashoba Valley Medical Center, at 7 a.m. Aug. 31.