CMS in the past week has proposed Medicare payment rules for outpatient services and physicians for 2021 and finalized payment rules for inpatient rehabilitation hospitals and psychiatric facilities. 

Major for-profit hospital operators saw their net income rise year over year in the second quarter of this year. 

Indianapolis-based Community Health Network saw revenues decline in the first six months of this year and ended the period with an operating loss, according to recently released financial documents. 

As hospitals and health systems face financial fallout from the COVID-19 pandemic, they have greater need to collect what is owed from patients to help offset lost revenue and higher expenses. At the same time, they must consider patients' financial situation, as many Americans have lost their jobs, been furloughed or taken pay cuts.

Leading a company through bankruptcy can be an unexpected bright spot on the resume of CFOs, according to The Wall Street Journal. 

Citing financial challenges from the COVID-19 pandemic, Springfield, Ill.-based Hospital Sisters Health System plans to reduce its workforce by 10 percent, according to The Herald-Review.

Dallas-based Tenet Healthcare has submitted 90-day closure notices for some inpatient medical services at two hospitals in Massachusetts. 

R1 RCM, a revenue cycle company for healthcare providers, reported year-over-year revenue growth for the second quarter and updated its financial outlook for 2020. 

The following seven hospital and health system credit rating downgrades occurred since July 1. They are listed in alphabetical order. 

CMS has released its annual Inpatient Rehabilitation Facility Prospective Payment System final rule, which raises payments for inpatient rehabilitation facilities in 2021. 

In its proposed Physician Fee Schedule for 2021, CMS outlined changes to how office and outpatient evaluation and management visits will be coded.

Shands Lake Shore Regional Medical Center in Lake City, Fla., has announced it will end all services at the hospital and its physician clinics on Aug. 31. 

Congress allocated $175 billion in relief aid to hospitals and other healthcare providers to cover expenses and lost revenues tied to the COVID-19 pandemic, a portion of which was dedicated to hospitals hardest hit by the pandemic. 

Below are 10 hospitals and health systems that recently posted job listings seeking CFOs.

Akron, Ohio-based Summa Health, one of more than 260 health systems that furloughed employees to help offset COVID-19-related losses this spring, has brought back most of its furloughed staff, according to The Beacon Journal. 

As hospitals begin to recover some COVID-19-related volume losses, administrators are looking for ways to reduce cost to collect and increase revenue streams. 

CMS has released its Outpatient Prospective Payment System proposed rule for 2021, which would raise Medicare outpatient payment rates next year. 

Revenue cycle processes can break down quickly with a simple mistake or someone forgetting to get the right information at the right time. Understanding where these bottlenecks occur and the points at which a process breaks down can help healthcare organizations collect revenue efficiently and provide a more streamlined experience for the patient.

A woman received an $1,980 bill after a New Jersey hospital omitted a COVID-19 test from her bill, according to The New York Times. 

CMS released its annual proposed changes to the Physician Fee Schedule for 2021, which would update the payment rates for physician services and expand the list of telehealth services covered by Medicare.