Here are the five most popular finance stories published by Becker’s Hospital Review in May:
1. 10 physician specialties that generate the most revenue for hospitals
The average amount of revenue physicians generate for hospitals has jumped significantly in recent years, and a decline in patient volumes and elective procedures due to the COVID-19 pandemic is putting hospitals and physicians in a fragile financial position.
2. Hospitals furloughing workers in response to COVID-19
In recent months, hospitals and health systems across the U.S. suspended elective procedures to save capacity and supplies to treat COVID-19 patients. As a result, many hospitals have lost or expect to lose a large chunk of their annual revenue, forcing them to make cost reduction a top priority. More than 260 hospitals have furloughed employees in an effort to remain financially stable amid the COVID-19 pandemic.
3. CMS releases proposed inpatient payment rule for 2021
CMS released its annual Inpatient Prospective Payment System proposed rule May 11, which would raise Medicare payment rates for acute care hospitals.
4. 2 Mercy execs retire early to help address financial fallout
Two Mercy executives volunteered to retire early to help the St. Louis-based health system navigate financial challenges caused by the COVID-19 pandemic.
5. How much federal COVID-19 aid are hospitals getting? A state-by-state analysis
HHS announced May 1 that it is sending $12 billion to 395 hospitals that provided inpatient care for 100 or more COVID-19 patients through April 10. The agency is also disbursing $10 billion to hospitals, clinics and health centers in rural areas.
More articles on healthcare finance:
Ascension reports $2.7B net loss in Q3
Emory Healthcare to furlough, cut hours of up to 1,500 workers
Cigna, CVS, Walmart, DaVita and Encompass return federal bailout funds
