Today's Top 20 Health Finance Articles
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Providence trims family medicine resident slots
Providence's family medicine residency program is cutting the number of new medical school graduates it recruits annually from 10 to four. The cuts, driven by a decrease in federal funding, will take effect next June, The Spokesman-Review reported July 25. -
Steward to close 2 Massachusetts hospitals by end of August
Dallas-based Steward Health Care plans to close two of its Massachusetts hospitals: Dorchester, Mass.-based Carney Hospital and Ayer, Mass.-based Nashoba Valley Medical Center. -
DOJ: Why Optum backed out of Steward deal
The Justice Department pointed to antitrust scrutiny for why UnitedHealth Group's Optum backed out of its planned acquisition of Dallas-based Steward Health Care's physician group, Stewardship Health. -
Median health system margins steady at 2.3%, expenses rise
Average health system operating margins held steady in June while hospital margins dropped slightly, according to Strata's Monthly Healthcare Industry Financial Benchmarks, published July 25. -
Mount Sinai gets conditional approval to close Beth Israel
The New York Department of Health has given New York City-based Mount Sinai conditional approval to close Beth Israel after months of reviewing the health system's closure plan. -
US economy grew 2.8% in Q2, healthcare leading service contributor
The U.S. economy saw a 2.8% increase in gross domestic product in the second quarter of 2024, reflecting a spike in consumer spending, nonresidential fixed investment and private inventory investment. -
HCA, Tenet profits spike in Q2: 10 things to know
HCA Healthcare and Tenet Healthcare, two of the largest for-profit health systems in the U.S., reported higher net incomes in the second quarter of this year than in the same period of 2023. -
New York-Presbyterian hospital to close rehabilitation unit
New York (City)-Presbyterian is seeking approval from the state Department of Health to close the 16-bed rehabilitation unit at New York City-based Columbia University Irving Medical Center and transition it to in-patient beds. -
Medical Properties Trust sells Arizona hospital, 7 EDs for $160M to CommonSpirit subsidiary
Birmingham, Ala.-based Medical Properties Trust, one of the world's largest healthcare real estate owners, has completed the $160 million sale of a hospital and seven freestanding emergency department facilities to San Francisco-based Dignity Health, part of Chicago-based CommonSpirit Health. -
3 for-profit systems raise 2024 outlook
Three publicly traded for-profit health systems raised their 2024 financial outlooks in the release of their second quarter earnings reports: -
Tenet built to 'thrive in any variety of political and regulatory environments': CEO
Tenet Healthcare CEO Saum Sutaria, MD, said that as the for-profit system fully emerges from the pandemic, its "repositioned portfolio of businesses is generating stronger results with attractive margins and strong free cash flow generation." -
UHS net income up 69% in Q2: 5 things to know
King of Prussia, Pa.-based Universal Health Services posted a net income of $289.2 million in the second quarter of 2024, a 68.8% increase from the $171.3 million it posted in the same quarter last year, according to its July 24 earnings report. -
CHS posts $13M Q2 net loss; more hospital sales on the horizon
Franklin, Tenn.-based Community Health Systems reported an operating income of $238 million (7.6% margin) in the second quarter, down slightly from $246 million (7.9% margin) during the same period last year. -
All Massachusetts Steward hospitals have received some form of bids, Governor says
All of Dallas-based Steward Health Care's Massachusetts hospitals have received some form of a bid, a spokesperson for Massachusetts Gov. Maura Healey confirmed with Becker's. -
Top external risks worrying CFOs
The economy is the top external risk worrying CFOs, according to Deloitte's "CFO Signals Survey 2Q 2024." -
Eliminate contract labor ASAP to improve margins, Tufts Medicine CFO says
It's been a financially challenging last few years for Burlington, Mass.-based Tufts Medicine, but the health system remains dedicated to providing strong patient care and is working diligently to get back to a healthier place. -
Turnaround strategy must be 'hardwired into our operations,' says Yale New Haven CFO
Yale New Haven (Conn.) Health is in active planning mode and strategizing about the future ahead of its new fiscal year, which begins Oct. 1, CFO Gail Kosyla told Becker's. -
How hospitals put payment disclosure data to use
In recent years, hospitals and health systems have started using a decade-old database that houses information on industry payments to physicians to ensure compliance and manage conflicts of interest, The Wall Street Journal reported July 23. -
Tenet's net income jumps 111% to $259M in Q2: 6 things to know
Dallas-based Tenet Healthcare saw a net income of $259 million in the second quarter of 2024, a nearly 111% increase from $123 million for the same quarter in 2023, according to its July financial report. -
R1 RCM committee sets bid deadline
The R1 RCM special committee has set a July 31 deadline for interested parties to submit fully-financed bids in connection with its review process.
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