CHS in the headlines — 9 latest stories

Here are nine updates on Franklin, Tenn.-based Community Health Systems' finances, hospital divestitures and cost-cutting measures reported by Becker's Hospital Review since April 1. 

1. Judge dismisses lawsuit accusing CHS of making EHR false claims
A federal judge dismissed a lawsuit against Community Health Systems alleging the company submitted hundreds of millions of dollars in false claims to HHS. 

2. More than $2.1B in bailout funds go to CHS, Tenet, HCA and UHS
Four major for-profit hospitals operators received more than $2.1 billion from the $175 billion in emergency relief funds Congress allocated to hospitals and other healthcare providers to help cover lost revenue and expenses tied to the COVID-19 pandemic. In its first-quarter earnings release, Community Health Systems said it had received $245 million in CARES Act grants.

3. CHS seeks to end Florida hospital lease
Community Health Systems asked to be released from a long-term lease it holds for a 99-bed hospital in Lake City, Fla.

4. Thousands of medical records from CHS hospitals exposed after tornado touches down
Community Health Systems began notifying patients on April 23 that their protected health information may have been exposed after a March 3 tornado struck the building where up to 2,500 medical records were being stored.

5. CHS turns a profit in Q1 as it nears end of hospital divestiture spree
Community Health Systems saw revenue decline in the first quarter of 2020 but ended the period in the black. 

6. CHS to divest 3 hospitals in Texas, Florida
Community Health Systems announced April 27 that it signed definitive agreements to sell two hospitals in Texas and to divest its stake in a Florida hospital. 

7. CHS to sell Texas hospital
Community Health Systems announced April 20 that it signed a definitive agreement to sell San Angelo (Texas) Community Medical Center. 

8. CHS executives take pay cut
Community Health Systems' top executives are giving up part of their compensation for the remainder of this year, according to an April 8 filing with the Securities and Exchange Commission. 

9. CHS withdraws 2020 financial guidance
Community Health Systems withdrew its financial guidance for 2020 due to COVID-19. 

More articles on healthcare finance:
Financial fallout from COVID-19: 10 hospitals laying off workers
10 latest hospital credit rating downgrades
Man beats COVID-19, says $1.1M tab for treatment adds to 'survivor's guilt'

 

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