The third quarter saw an increase in the pace of credit downgrades for health systems and hospitals as U.S. healthcare continues to struggle to find sustained recovery, S&P said Oct. 17.

Four Arkansas hospitals got preliminary approval to receive $16 million in federal aid from the American Rescue Plan Act, Arkansas Advocate reported Oct. 17.

Milwaukee-based Froedtert Health, which is merging with fellow Wisconsin system Neenah-based ThedaCare, has reported operating income in fiscal 2023 of $66 million on revenue of $3.6 billion.

Major hospital groups are pushing back against physician-owned hospitals amid calls to eliminate Medicare's ban on physician self-referral to new POHs and restrictions on their growth. 

Nonprofit health system and hospital downgrades outnumbered upgrades by a ratio of 3-to-1 in the third quarter, Fitch said in an Oct. 18 public finance report.

Health systems in Missouri, California and Virginia have all called off new hospital projects recently. 

Richmond, Va.-based VCU Health may not quite have broken even during fiscal 2023, but it has started strong in the first quarter of the new fiscal year, CFO James Siegel told Becker's in an interview.

Froedtert Health is growing value-based care, making progress on digital health initiatives, and preparing for a merger on the horizon.  

With the Medicare open enrollment period underway, some seniors may have fewer provider choices in their respective regions as hospitals and health systems across the country increasingly cut ties with the Medicare Advantage program. 

Hospital margins have improved slightly in recent months as patient volumes rebounded but high labor costs and inflation continue to challenge bottom lines, forcing CFOs to continue to curb costs through various means, including workforce cuts.

Healthcare CFOs see potential in apps such as Venmo and Zelle beyond splitting the bill at a restaurant, according to a recent survey conducted by U.S. Bank. 

The Central Ohio Hospital Council, a collection of four Columbus, Ohio-based hospitals, is forgiving $335 million in medical debt for care received between 2015 and 2020.

Many of the same challenges plaguing health system finances this year will carry over into 2024: inflation, tight margins, rising costs and lower reimbursement. But top executives aren't waiting for a more favorable economy to transform their organizations.

Dallas-based Access Healthcare, a revenue cycle management and healthcare services company, has acquired Envera Health, which specializes in patient engagement services.

Starting Oct. 1, CMS began allowing public and private insurers to pay "street medicine" providers for services delivered where homeless people might be staying, KFF Health News reported Oct. 16.

Cincinnati-based Bon Secours Mercy Health had its long-term bond rating downgraded from "A1" to "A2," Moody's said Oct. 5.

Waystar, a healthcare payment technology provider, took a step closer to becoming a public company.

Billings (Mont.) Clinic, which Sept. 1 merged with Kalispell, Mont.-based Logan Health, saw its outlook revised from stable to negative amid persistent operating challenges, Fitch Ratings said Oct. 16.

The CFO role isn't just about numbers. Right now, it involves a critical focus on connection-building and workforce growth, according to JoAnn Kunkel, CFO of New Orleans-based LCMC Health.

Chicago-based CommonSpirit said Oct. 12 its divisional setup will consolidate into just five regions as it seeks to "streamline the organization."