Today's Top 20 Health Finance Articles
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Froedtert ThedaCare reports 3% operating margin
Milwaukee-based Froedtert ThedaCare Health posted an operating income of $111.6 million (3% margin) in the nine months ending March 31,compared to $40.3 million (1.5% margin) in operating income during the same period the previous year. -
Florida hospital restricts charity care, citing financial strain
Manatee Memorial Hospital in Bradenton, Fla., is revising its charity care policies due to funding shortfalls, a move the investor-owned hospital called a "difficult, yet responsible, fiscally prudent decision," according to a June 3 report by the Sarasota Herald-Tribune. -
7 RCM headlines to know from May
From a New York City hospital striking a 10-year agreement with Med–Metrix to R1 RCM allowing its two biggest shareholders to discuss a potential joint buyout of the company, here are seven RCM headlines to know from May: -
Hospital margins rebound, but some left behind
Nonprofit hospital margins hit 4.3% in April, up 33% year over year, according to Kaufman Hall's "National Hospital Flash Report" released June 3. -
New Mexico hospital faces possible closure over $68M malpractice verdict
Rehoboth McKinley Medical Center in Gallup, N.M., was recently hit with a $68 million malpractice verdict and a district court judge has ordered the hospital to put up a bond of more than $100 million before it can file an appeal, Source NM reported May 31. -
Mount Sinai operating income down in Q1
New York City-based Mount Sinai posted an operating income of $11.6 million in the first quarter of 2024, down from an operating income of $45.3 million over the same period last year, according to its May 30 financial report. -
Hospital expenses drop
Hospital expenses decreased month over month in March but remained high compared to 2023 numbers, according to Kaufman Hall's most recent "National Hospital Flash Report." -
12 hospitals closing departments or ending services
A number of healthcare organizations have recently closed medical departments or ended services at facilities to shore up finances, focus on more in-demand services or address staffing shortages. -
Northwell sees Q1 operating income jump
New Hyde Park, N.Y.-based Northwell Health reported an operating income of $73 million in the first quarter of 2024, up from a $22.6 operating loss in the same quarter in 2023, according to its May 30 financial report. -
Healthcare cost caps weaken hospital finances: Fitch
Nonprofit hospitals in states with healthcare cost caps face a tougher road to financial strength, according to a May 30 report from Fitch. -
DOJ rejects Steward's Optum sale timeline in bankruptcy filing
The Justice Department has rejected bankrupt Dallas-based Steward Health Care's suggested auction timeline for its physician group Stewardship Health to be sold to UnitedHealth Group's subsidiary Optum. -
New York City hospital, Med-Metrix strike RCM partnership
The Brooklyn Hospital Center in New York City has entered into a 10-year partnership that will make Med–Metrix its exclusive revenue cycle management services provider. -
Montana system cuts services, reduces workforce by 9%
Billings, Mont.-based RiverStone Health is closing two facilities, reducing other services and cutting nearly 9% of its workforce, KFF Health News reported May 30. -
Allegheny Health Network posts $31.3M Q1 operating loss
Pittsburgh-based Allegheny Health Network reported an operating loss of $31.3 million in the first quarter of 2024, a $4.9 million improvement from the $36.2 million loss it reported in the same period in 2023, according to its May 30 finance report. -
Health system-payer negotiations 'coming to a head'
Contract negotiations between health systems and payers are a routine part of doing business, but ongoing cost and workforce pressures, inflation and widespread Medicare Advantage challenges are forcing health systems to push back against the dynamics of the payer-provider relationship. -
Montefiore records $27.9M operating loss in Q1
New York City-based Montefiore Health System reported an operating loss of $27.9 million in the first quarter of 2024 after reporting an operating income of $31.8 million in the same quarter last year, according to its May 29 finance report. -
Missouri women's hospital ER to permanently close
University of Missouri Health Care Women's Hospital in Columbia, Mo., has shared plans to permanently close its emergency room on June 10. -
Massachusetts system to exit bankruptcy
Gardner, Mass.-based Heywood Healthcare on May 28 filed papers to emerge from bankruptcy, almost eight months after filing for Chapter 11 protection. -
UnityPoint cuts operating loss in Q1
West Des Moines, Iowa-based UnityPoint Health posted a $3.1 million operating loss in the first quarter of 2024, an improvement from the $29 million operating loss it posted in the same quarter in 2023, according to its May 28 financial report. -
The inpatient, outpatient services that lose the most money
Reimbursements across all payers have fallen for five services, with an operating gap between -12.1% and -42.9%, an American Hospital Association report found.
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