Today's Top 20 Health Finance Articles
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Penn State Health sees 120% operating income increase; CFO predicts 'long-term success'
Hershey, Pa.-based Penn State Health saw $22.9 million in operating income in the first six months of fiscal year 2024, ending Dec. 31, 2023, a 120% increase from a loss of $114.1 million for the first six months of fiscal year 2023, according to a recent financial report. -
Loma Linda Health launches $300M campaign
Loma Linda (Calif.) Health launched a multimillion dollar campaign Feb. 28 focused on growth and innovation. -
Tower Health closes 2 Pennsylvania urgent care centers
West Reading, Pa.-based Tower Health has permanently closed two of its Pennsylvania urgent care centers and is making changes to other locations as part of consolidation efforts that started Feb. 25. -
15 health systems with strong finances
Here are 15 health systems with strong operational metrics and solid financial positions, according to reports from credit rating agencies Fitch Ratings and Moody's Investors Service released in 2024. -
Patient collections fall to 48%
The rate of patient collections fell from 54.8% in 2021 to 47.8% in 2022 and 2023, according to an analysis from Kodiak Solutions. -
Cone Health hires execs from vendor for new value-based care center
Greensboro, N.C.-based Cone Health has established its own Center for Value-Based Care and hired three leaders to head up its work. -
Newly combined Pennsylvania system cuts losses in its first year
Independence Health System cut its losses by 14% in its first year as a combined health system, the Pittsburgh Post-Gazette reported Feb. 27. -
UHS CEO eyes return to 'pre-COVID trends' in 2024
King of Prussia, Pa.-based Universal Health Services projects net revenues to hit up to $15.7 billion in 2024, which would represent year-year-year growth of up to 10%, executives said during the company's Feb. 28 earnings call. -
Walgreens to pull VillageMD clinics from Illinois
Walgreens' Village MD is planning to exit the Illinois market in April, a spokesperson confirmed to Becker's on Feb. 28. -
2-midnight rule offers 'incremental opportunity,' UHS CFO says
Steve Filton, CFO of King of Prussia, Pa.-based Universal Health Services, shares the cautious optimism on CMS' two-midnight rule as other for-profit CFOs. -
UHS posts $1.2B operating income, revenues exceed $14B
King of Prussia, Pa.-based Universal Health Services reported $1.2 billion in operating income (8.4% margin) in 2023, up from a $1 billion gain (7.5% margin) reported in 2022. -
Wisconsin governor approves $15M crisis response bill amid HSHS/Prevea closures
Wisconsin Gov. Tony Evers has approved Senate bill 1015, now known as 2023 Wisconsin Act 97, which will secure $15 million in crisis response funding to help provide care access in Western Wisconsin amid the planned closure of two Hospital Sisters Health System hospitals and regional clinics it operates with Green Bay, Wis.-based Prevea Health. -
Hospital expenses per inpatient day across 50 states
Below are the adjusted expenses for nonprofit, for-profit and government hospitals per inpatient day in 2022 in every U.S. state, according to the latest estimates provided by Kaiser State Health Facts. -
Hospitals see uneven financials as margins dip
Hospital margins were down slightly month over month in January, but up to begin the year as compared to 2021 and 2022, according to Kaufman Hall's National Hospital Flash Report, released Feb. 28. -
Major R1 RCM shareholder opposes acquisition offer
One of R1 RCM's largest shareholders is asking the revenue cycle management company's board to reject a potential offer to take the firm private. -
UPMC back in the red with $198M operating loss, -0.7% margin
Pittsburgh-based UPMC reported a $198 million operating loss (-0.7% margin) in 2023, down from a $162 million gain (0.6% margin) in 2022, according to financial documents published Feb. 28. -
Sutter Health Berkeley hospital could close by 2030
Oakland, Calif.-based Alta Bates Summit Medical Center, part of Sacramento, Calif.-based Sutter Health, could close by 2030. -
Mayo posts $1.1B operating income, 6% margin
Mayo Clinic saw financial and operational improvements in 2023 that lifted its net operating income to $1.1 billion, according to financial results released Feb. 27. -
Why not-for-profit health systems need positive margins: Deloitte
Health system margins are the "lifeblood of a healthy, patient-centered, innovative health care system and community," according to a report from consulting firm Deloitte. -
R1 RCM posts $3.3M in 2023 income
R1 RCM reported a $3.3 million net income in 2023 after posting a net loss of $63.3 million in 2022, according to its Feb. 27 financial statement.
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