More than a dozen states have considered or passed legislation to better define what charity care means, increasing the scrutiny on nonprofit hospitals and health systems, according to a July 11 KFF Health News report.

Despite the post-COVID-19 financial strain on hospitals, Pittsburgh-based UPMC is still investing in its long-term priorities, CFO Edward Karlovich told Lehigh Valley Business July 10.

The closure of Ashland, Ky.-based Our Lady of Bellefonte Hospital in April 2020 left the city with only one health system — King's Daughters — but the University of Kentucky stepped in to help boost the hospital, Politico reported July 10. 

CFOs at the biggest U.S. listed companies lasted an average of 3.51 years in post between 2016 and 2021, the latest period for which official data exists, according to a recent analysis by DataRails.

In the last month, Becker's has reported on a Pennsylvania hospital that closed its emergency department and another hospital in Indiana that plans to follow suit:

While median cash flow metrics at the nation's children's hospitals may have declined to their lowest level in ten years, their median ratings are superior compared with acute care health systems, Fitch said in a July 10 report.

UPMC McKeesport (Pa.) Hospital has ended emergency care for ST-segment elevation myocardial infarction (STEMI), which are generally the most severe and dangerous types of heart attacks, the Pittsburgh Post-Gazette reported July 10. 

Bristol (Conn.) Health CFO, Tim Ajayi, addressed how the health system is dealing with sustained financial challenges and its future plans for growth in an interview with Becker's. The conversation follows a report of just under 17 days of cash on hand for the system, which operates 20 locations anchored by Bristol Hospital and employs almost 1,800 people.

The cost of treating patients is expected to rise 7% next year as providers seek rate increases to deal with higher expenses and prescription drug spending accelerates, according to PwC’s new report, Behind the Numbers 2024. To estimate the cost to treat patients for the coming year, PwC’s Health Research Institute surveyed and spoke with US health plans covering 100 million employer-sponsored large and small group members and 10 million Affordable Care Act (ACA) marketplace members. Here are some highlights of the report for the two major medical cost inflators and two major medical cost deflators cited by health plans:  

Short-term necessities are hindering any vital longer-term strategic planning for hospitals as they continue to soldier on against a backdrop of continuing financial challenges, according to The Keckley Report July 10.

The Washington Department of Social and Health Services faces a $100 million fine for allegedly not providing proper mental health services to individuals with severe mental illness in state prisons, The Chronicle reported July 9. 

Good Samaritan Hospital, operated by Nashville, Tenn.-based HCA Healthcare, plans to close the inpatient psychiatric facility at its Mission Oaks Hospital in Los Gatos, Calif., on Aug. 20, NBC reported July 10.

Several federal agencies are investigating medical credit cards, which the Consumer Financial Protection Bureau has previously warned can leave consumers stuck with debt. 

Salt Lake City-based Intermountain Health saw its robust credit ratings affirmed because of its strong market share and cash levels, Moody's said June 29.

CMS is proposing a $9 billion lump sum payment to hospitals participating in the 340B Drug Pricing Program to make them whole from unlawful payment cuts from 2018 to 2022.

Middletown, N.Y.-based Garnet Health on July 7 laid off 49 employees, including 25 leaders, to offset recent operating losses. 

Vancouver, Wash.-based PeaceHealth saw its credit rating on a series of bonds downgraded to "A-" as it continues to face labor challenges and high average length-of-stay issues, S&P Global said July 7.

A number of health systems saw their debt levels detailed as various ratings agencies assessed their credit ratings in June. Here is a summary of some of those systems' debt levels.

Palo Alto, Calif.-based Stanford Medicine's operating income for the nine months ending May 31 was 24 percent above the same period in 2022, according to a July 7 filing.

Lawmakers in New Jersey approved $35 million in additional funding for Newark-based University Hospital, but that is not nearly enough to cover redevelopment plans, NJ Spotlight News reported July 7.