Asheboro, N.C.-based Randolph Health is in discussions with a potential healthcare successor in Randolph County as it tries to stay afloat, hospital leaders announced.

CommonSpirit Health, which operates 142 hospitals in 21 states, saw revenues and patient volume increase in the first quarter of fiscal year 2020 but ended the three-month period with an operating loss.

Rochester, Minn.-based Mayo Clinic reported higher revenue and net income in the first nine months of 2019 than in the same period a year earlier, according to unaudited financial documents.

The improper payment rate for Medicare fee-for-service declined $7 billion from fiscal years 2017-19 to $28.9 billion, its lowest level since 2010, CMS announced Nov. 18. 

Dallas-based Steward Health Care will close St. Luke's Medical Center in Phoenix on Nov. 24. When the hospital closes, 655 employees will lose their jobs, according to the Phoenix Business Journal, which cited a Worker Adjustment and Retraining Notification Act notice.

The following hospitals and health systems posted job listings for billing specialists in the last week:

U.S. Rep. Sharice Davids will introduce legislation Nov. 18 that aims to address surprise medical bills by instituting requirements for health plan provider directories.

Many hospitals that participated in the 340B drug discount program from fiscal years 2011 to 2017 provided below-average rates of charity care, according to a new report from the Alliance for Integrity and Reform of 340B.

Glens Falls (N.Y.) Hospital's recently released audit lacked details on how much the hospital lost in 2018 due to billing problems, according to The Post Star, which cited the audit by KPMG.

In recent years, patients' financial stress has risen rapidly. Premiums are increasing at a significantly faster rate than wages and inflation, and these trends are likely to persist.

A Vermont primary care practice in Montpelier warned patients to be careful what  they ask during a checkup because they could wind up with a bill, according to journalism platform VTDigger.

Former Louisiana Attorney General Charles Foti Jr., a partner at Kahn Swick & Foti, has begun an investigation into Franklin, Tenn.-based Community Health Systems.

The following 17 hospital and health system credit rating downgrades occurred between June 1 and Nov. 15. They are listed below in alphabetical order:

Four major for-profit hospital operators saw their stock prices rise last week.

A recent survey of physician practices revealed that they spend $2.76 billion annually updating and verifying information in health plan provider directories.

A Nashville, Tenn.-based company that has opposed a surprise billing solution under consideration in Congress will take over emergency room staffing at Calais (Maine) Regional Hospital and Down East Community Hospital in Machias, Maine, according to the Bangor Daily News.

CMS has unveiled an approach to recoup funds that were paid by original Medicare that should have been billed to Medicare Advantage insurers.

At presentation during Becker's 5th Annual Healthcare IT + Revenue Cycle Conference in Chicago, Simplee sponsored a workshop to discuss how healthcare organizations are providing price transparency to patients. A panel of leaders from AdventHealth shared how they arm patients with essential financial information and tools during the healthcare journey.

Myriam L. Torres, vice president of revenue cycle at Miami-based Jackson Health System, knows the importance of data in deciding whether to implement processes for improvement.

CMS finalized a price transparency rule Nov. 15 that requires hospitals to disclose negotiated rates with insurers beginning in 2021. The federal government also issued a health plan transparency proposal that would require insurers to share price and cost-sharing information with members before treatment.