Robbinsdale, Minn.-based North Memorial Health's flagship Robbinsdale Hospital has projected $124 million in losses related to government programs in 2024 due to a financial crisis brought on by the payer mix in its service area, a spokesperson for North Memorial Health said in an Aug. 20 statement shared with Becker's. 

Former R1 RCM CEO Joe Flanagan will return to the role after two private equity firms complete their acquisition of the revenue cycle management company. 

Integrating artificial intelligence and automating workflows can significantly improve hospital operations, particularly in revenue cycle management, and many providers are developing AI tools to help with third-party payer denials and the rising cost of collections, among other areas. 

Nonprofit hospital operating margin increased on average year over year in June, according to Kaufman Hall's National Hospital Flash Report, released Aug. 5.

Payers are delaying billions of dollars in payments by increasingly using requests for more information to initially deny claims from health systems and medical practices, according to a report from Kodiak Solutions. 

Rochester, Minn.-based Mayo Clinic reported an operating income of $449 million (8.9% margin) in the second quarter, a substantial improvement on the $300 million operating gain (5.9% margin) it posted in the same period last year.

Oneida, Tenn.-based Big South Fork Medical Center missed payroll Aug. 16, an issue the hospital has experienced previously, the Independent Herald reported Aug. 17.

Contrary to the rumors, there are no plans to close Asante Ashland (Ore.) Community Hospital, a spokesperson for the hospital told Becker's. 

Employers are facing legal pushback over high healthcare costs, the Medicare Advantage landscape is getting more tricky, and alternative payment models are growing in popularity.

Phoenix-based Banner Health reported an operating income of $182.7 million (2.4% margin) for the first six months of 2024 ended June 30, compared to a $162.7 million operating gain (2.3% margin) during the same period in 2023, according to the health system's Aug. 19 financial report.

Philadelphia-based Thomas Jefferson University, owner of Jefferson Health, reported a $1.3 million operating income (0% margin) in fiscal year 2024, up from a $78.5 million loss (-0.8% margin) over the same period last year. 

Chicago-based Ascension Saint Elizabeth will close and be repurposed as a community asset amid Ontario, Calif.-based Prime Healthcare's recent plans to acquire the hospital and eight other Midwest St. Louis-based Ascension hospitals in the first quarter of 2025.

Greenville, S.C.-based Prisma Health, an 18-hospital system, reported an operating income of $217 million (4.4% margin) for the nine months ended June 30, compared to an operating loss of $31.2 million (-0.7% margin) for the same period in the previous fiscal year, according to financial documents published Aug. 16. 

Portland-based Legacy Health reported a $41.7 million operating loss (‐5.9% margin) for the quarter ending June 30, compared to a $10.1 million operating gain (1.4% margin) for the same quarter in the prior fiscal year, according to financial documents published Aug. 15.

Massachusetts Governor Maura Healey's administration has shared that deals "in principle" have been reached for four hospitals run by Dallas-based Steward Health Care to be taken over by new operators.

Nashville, Tenn.-based Ardent Health reported a net income of $43 million (2.9% margin) in the second quarter, up from $33 million (2.4% margin) in the same period last year, according to financial results published Aug. 15. 

Hospital operations have stabilized after a tumultuous few years, with the chasm between revenue growth and expense growth leveling out, but headwinds remain amid ongoing staff shortages, intense wage pressure and high inflation, Fitch Ratings said in an Aug. 15 report shared with Becker's.

At a time when most states and the federal government continue to exclude millions of people from health insurance, the NYC Care health care access program offers an innovative approach for local governments. 

Medicare Advantage  has grown rapidly in recent years, with 32.8 million people (54% of the eligible Medicare population) now enrolled in an MA plan. Health systems are grappling with various challenges within the program, such as excessive prior authorization denial rates and slow payments from insurers, but some organizations have positioned themselves for success. 

Growth is essential for hospitals and health systems, but the way executive teams think about growth has changed significantly over the last five years.