As hospitals and services continue to shut down due to financial challenges and labor shortages, many healthcare leaders are growing more concerned.

Arlington, Va.-based VHC Health has struck a 15-year, end-to-end revenue cycle partnership with Med-Metrix.

The Ridley Park (Pa.) Borough Council has approved a 17% increase in 2024 property taxes to combat unpaid taxes and fees from Prospect Medical Holdings, the parent company of Crozer Health System, for its Ridley Park-based Taylor Hospital, Richard Tutak, borough manager of Ridley Park Borough, confirmed with Becker's. 

Veradigm, the EHR vendor formerly known as Allscripts, has acquired revenue cycle management company Koha Health. 

West Lake Hills, Texas-based the Hospital at Westlake Medical Center abruptly closed its emergency department the evening of Dec. 29 until further notice, according to a statement posted on the hospital's Facebook page.

West Reading, Pa.-based Tower Health has turned down a $706 million offer from StoneBridge Healthcare, a hospital turnaround firm, making this the fourth purchase offer rejected by the system since 2021. 

New York Gov. Kathy Hochul has vowed to protect New Yorkers from medical debt, limit hospitals' ability to sue patients and expand financial assistance programs as part of her 2024 State of the State.

From R1 RCM's latest acquisition to KLAS Research naming Waystar the highest-rated platform of 2023, here are seven revenue cycle management headlines from December to know:   

As the new year begins, finance teams at hospitals and health systems nationwide are strategizing to make it their best yet. The key first step in a strong annual strategy is using all available insights from your year-end financial assessment, whose lessons and losses will help you combat uncompensated care costs in the coming quarters.

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

Clark Fork Valley Hospital in Plains, Mont., closed its home health agency, effective Jan. 1.

Ten hospitals and health systems recently posted job listings seeking revenue cycle management expertise.

Nashville, Tenn.-based Advent Health Partners, a healthcare technology company, has been acquired by Hunt Valley, Md.-based Trend Health Partners, an independent healthcare payment integrity company.

A group of legislators representing Ulster County, N.Y., have urged Gov. Kathy Hochul to resolve the dispute with Westchester Medical Center Health Network to avoid service cuts at HealthAlliance Hospitals in Kingston and Margaretville, N.Y., which the health system owns, the Daily Freeman reported Dec. 28. 

From an Iowa hospital pointing to a difficult EHR implementation for its bankruptcy to hospitals pushing back against Medicare Advantage plans, here are 10 of the most viewed finance stories Becker's reported in 2023, listed in reverse chronological order: 

Danville, Pa.-based Geisinger Health System reported an operating loss of $104.4 million in the nine months ending Sept. 30, a 52% improvement on the $215.8 million loss it reported in the same period last year. 

Attleboro, Mass.-based Sturdy Health saw a $17.2 million total net gain for the 2023 fiscal year ending Sept. 30. 

Indianapolis-based Indiana University Health saw $59.6 million in operating income during the three months ended Sept. 30, an 8.4% decrease on the $65 million reported in the same period last year, according to financial documents published Nov. 3. 

Three health systems struck deals to outsource revenue cycle, health IT and other services with Optum in 2023. 

Hospitals began 2023 with a median operating margin of -0.9%, but that figure has increased steadily month over month to hit 2% in November — the ninth consecutive month of positive margins. Despite a modest positive turning point for some hospitals and health systems this year, Fitch Ratings projects 2024 to be another "make or break" year for a significant portion of the sector.