Three of the country's largest nonprofit health systems — Ascension, CommonSpirit and Trinity Health — saw varying degrees of improvement in their fiscal 2024 results despite ongoing payer challenges and rising labor and supply costs. 

Health system CIOs and CFOs are accountable for driving forward the CEO's vision and powering strategic priorities. The most effective duos have learned to speak each others' language and respect their partner's expertise.

For the past decade, private equity firms have invested more than $1 trillion into U.S. healthcare. This meteoric rise in corporate investing in healthcare over the past 10 years may now be hitting its first real speed bump. 

Livonia, Mich.-based Trinity Health reported a $68.4 million operating income (0.3% margin) in the fiscal year ending June 30, compared to a $288 million operating loss (-1.3% margin) in the previous fiscal year, according to financial results published Oct. 4. 

Expenses were relatively flat for nonprofit hospitals in August compared to July, according to Kaufman Hall's National Hospital Flash Report.

Some physicians at Manchester (Conn.) Memorial Hospital said they are seeing payment disruptions with respect to Prospect Medical Holdings, which owns the facility, Connecticut Public Radio reported Oct. 2.

One of Chicago-based CommonSpirit's top priorities for fiscal year 2025 is to change its relationship with payers, CFO Dan Morissette said on the company's Oct. 4 investor call. 

Hospitals are facing significant financial challenges driven by market dynamics, rising costs and the struggle to recruit and retain talent. As health systems navigate these pressures, leaders are emphasizing the importance of market dominance, cost control and innovation as essential strategies for long-term viability.

Raleigh, N.C.-based UNC Health Rex, a satellite campus part of Chapel Hill, N.C.-based UNC Health, has shared plans to close its Wellness Center of Wakefield in Raleigh on Nov. 15.

Salt Lake City-based Intermountain Health has signed an agreement with Alignment Health Plan, effective Jan. 1, that provides Alignment's Nevada members access to more than 65 of the health system's clinics in the state. 

Beth Israel Deaconess Hospital-Needham (Mass.) has received a $20 million donation — the largest in the hospital's history. 

Baltimore-based Johns Hopkins Medicine has received a $10 million donation that will fund a new innovation center at its Wilmer Eye Institute. 

Nonprofit hospital operating margins further stabilized in August while length of stay decreased, according to Kaufman Hall's National Hospital Flash Report, published Oct. 2.

Fredericksburg, Va.-based Mary Washington Healthcare has selected Ensemble Health Partners for a revenue cycle management partnership. 

Des Moines, Iowa-based MercyOne has closed the behavioral health unit at its Clinton (Iowa) Medical Center, NBC affiliate KWQC reported Oct. 2. 

Seattle-based Virginia Mason Medical Center, part of Tacoma, Wash.-based Virginia Mason Franciscan Health, will close its Family Birth Center and Franciscan Women's Health Associates Clinic, effective Nov. 16, as the result of a review of current and future needs at the hospital.

Twenty-seven hospital merger and acquisition transactions were announced in the third quarter, the highest Q3 volume since 2017, according to Kaufman Hall's latest M&A report. 

Dallas-based Steward Health Care filed a WARN notice Oct. 1 for 255 employees at its Phoenix-based St. Luke's Behavioral Health Center. 

Moody's has placed Boston Medical Center's "Baa2" rating under review for a potential downgrade as it assesses the health system's recent acquisition of two Steward Health Care hospitals. 

CMS issued an interim final rule Sept. 30 that will discontinue the hospital inpatient prospective payment system low wage index policy for fiscal 2025.