Five things to know:
1. Total operating revenue for the six-month period ended Dec. 31 was $956.1 million, a 1.9% increase from the same period in 2023.
2. Operating expenses were $963 million, a 6.3% decrease from the same period last year.
3. The system posted a $21 million net loss, a major improvement from an $81.2 million loss during the same period in 2023.
4. Tower Health was reimbursed $19.5 million as part of the CMS settlement for 340B underpayments from 2018 to 2022.
5. Tower Health is continuing to work on its Tower Together Performance Improvement plan, which was started in fiscal year 2022 in an effort to focus on initiatives to either reduce expenses or increase revenue. The plan resulted in $205 million in organizational benefit in fiscal year 2023, and has budgeted an additional $87.5 million for fiscal year 2024 benefit.
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
