Today's Top 20 Health Finance Articles
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Tower Health cuts operating losses to $141.9M, targets profitability in 2024
West Reading, Pa.-based Tower Health, a three-hospital system, reduced its operating deficit by more than $70 million to $141.9 million in fiscal year 2023 and aims to be back in the black in 2024, according to financial documents published Aug. 29. -
Intermountain operating income dips 35%
Salt Lake City-based Intermountain Health posted $184 million in operating income during the first six months of 2023, a 35 percent drop from the $285 million it reported during the same period last year, according to financial documents published Aug. 29. -
California hospital mismanaged $1M in transportation funds: Report
VA Loma Linda (Calif.) Healthcare System inappropriately used more than $1 million in patient transportation funding by colluding with ambulance companies from October 2019 to May 2022, Southern California News Group reported Sept. 3, citing a confidential federal report. -
Spending increases when primary care is integrated with large systems: Study
Per-patient spending increases when primary care providers are part of large health systems, a study published Sept. 1 in JAMA Health Forum found. -
Distressed loan hospital El Centro fails to file results
El Centro (Calif.) Regional Medical Center, which received a $28 million zero-interest loan from the state of California in August, failed to file financial results for the second quarter. -
CMS hits 4 more hospitals with price transparency fines
CMS has fined four more hospitals for alleged price transparency violations, according to a Sept. 1 update to its price transparency enforcement website. -
CMS launching population health-focused payment model for states, hospitals
CMS is launching a new population health-focused payment model aimed at addressing chronic disease, behavioral health and overall improvement of care management for states' populations. -
The Financial Benefits of Doulas for Hospitals with Capitated Contracts
Hospitals with capitated contracts saw a substantial decrease in Cesarean deliveries and postpartum depression/anxiety after including doulas. -
Prime Healthcare closes $425M credit facility
Ontario, Calif.-based Prime Healthcare Services has closed a $425 million credit facility, a move that is expected to help with the company's growth strategy, including acquisitions. -
HSHS warns of fake patient bills amid IT incident
Springfield, Ill.-based Hospital Sisters Health System warned patients of potentially fraudulent attempts to collect on fake hospital bills after a cybersecurity incident in late August, according to the health system's website. -
Meet Advocate Health's interim CFO
Advocate Health Senior Vice President and Treasurer Bradley Clark is serving as the Charlotte, N.C.-based system's interim CFO while it searches for a permanent replacement for Anthony DeFurio. -
Hospital profitability: 36 statistics
The average hospital operating margin dropped from June to July, but has increased year over year, according to the Kaufman Hall National Hospital Flash Report. -
Shuttered Illinois hospital files for bankruptcy
St. Margaret's Health, which has been closed since June, filed two petitions of Chapter 11 bankruptcy for its St. Margaret's Spring Valley (Ill.) and St. Margaret's Peru (Ill.) facilities, Shaw Local News Network reported Sept. 1. -
8 RCM headlines to know from August
From a hospital delaying its Epic installation due to an RCM change to what three health system leaders see as the biggest challenges right now, here are eight revenue cycle management headlines Becker's reported in August: -
Troubled Missouri health system takes on consultants as debt covenant missed
Marshall, Mo.-based John Fitzgibbon Memorial Hospital, which in June was downgraded to a "CCC" rating, is working with a number of consulting firms after its debt service coverage ratio slipped below 1.00 for the fiscal year ended April 30. -
California hospital closing maternity ward as family sues over patient death
Inglewood, Calif.-based Centinela Hospital Medical Center is ending maternal child health services on Oct. 25 amid continued fallout over the death of a patient earlier this year. -
Saint Peter's University Hospital upgraded
New Brunswick, N.J.-based Saint Peter's University Hospital, the largest part of Saint Peter's Healthcare, was upgraded to "Baa2" from "Baa3," Moody's said Aug. 25. -
New Hampshire's Catholic Medical Center downgraded amid operating weakness
Manchester, N.H.-based Catholic Medical Center saw its credit rating downgraded to "Ba1 negative" from "Baa3 negative," Moody's said Aug. 25. -
MercyOne to close only Minnesota location
West Des Moines, Iowa-based MercyOne will shutter its Albert Lea clinic on Dec. 31, eliminating its only facility in the state of Minnesota. -
Why an Illinois hospital CEO laid off 20% of its leadership
Springfield, Ill.-based Memorial Health CEO Ed Curtis pointed to ballooning labor costs as the main reason for what he described as a "painful but responsible" decision to lay off 20 percent of the hospital's leadership in early August.
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