Today's Top 20 Health Finance Articles
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Northwell sees Q1 operating income jump
New Hyde Park, N.Y.-based Northwell Health reported an operating income of $73 million in the first quarter of 2024, up from a $22.6 operating loss in the same quarter in 2023, according to its May 30 financial report. -
Healthcare cost caps weaken hospital finances: Fitch
Nonprofit hospitals in states with healthcare cost caps face a tougher road to financial strength, according to a May 30 report from Fitch. -
DOJ rejects Steward's Optum sale timeline in bankruptcy filing
The Justice Department has rejected bankrupt Dallas-based Steward Health Care's suggested auction timeline for its physician group Stewardship Health to be sold to UnitedHealth Group's subsidiary Optum. -
New York City hospital, Med-Metrix strike RCM partnership
The Brooklyn Hospital Center in New York City has entered into a 10-year partnership that will make Med–Metrix its exclusive revenue cycle management services provider. -
Montana system cuts services, reduces workforce by 9%
Billings, Mont.-based RiverStone Health is closing two facilities, reducing other services and cutting nearly 9% of its workforce, KFF Health News reported May 30. -
Allegheny Health Network posts $31.3M Q1 operating loss
Pittsburgh-based Allegheny Health Network reported an operating loss of $31.3 million in the first quarter of 2024, a $4.9 million improvement from the $36.2 million loss it reported in the same period in 2023, according to its May 30 finance report. -
Health system-payer negotiations 'coming to a head'
Contract negotiations between health systems and payers are a routine part of doing business, but ongoing cost and workforce pressures, inflation and widespread Medicare Advantage challenges are forcing health systems to push back against the dynamics of the payer-provider relationship. -
Montefiore records $27.9M operating loss in Q1
New York City-based Montefiore Health System reported an operating loss of $27.9 million in the first quarter of 2024 after reporting an operating income of $31.8 million in the same quarter last year, according to its May 29 finance report. -
Missouri women's hospital ER to permanently close
University of Missouri Health Care Women's Hospital in Columbia, Mo., has shared plans to permanently close its emergency room on June 10. -
Massachusetts system to exit bankruptcy
Gardner, Mass.-based Heywood Healthcare on May 28 filed papers to emerge from bankruptcy, almost eight months after filing for Chapter 11 protection. -
UnityPoint cuts operating loss in Q1
West Des Moines, Iowa-based UnityPoint Health posted a $3.1 million operating loss in the first quarter of 2024, an improvement from the $29 million operating loss it posted in the same quarter in 2023, according to its May 28 financial report. -
The inpatient, outpatient services that lose the most money
Reimbursements across all payers have fallen for five services, with an operating gap between -12.1% and -42.9%, an American Hospital Association report found. -
Children's Colorado says Colorado Springs cancer center could be closed over Tricare reimbursement cuts
Aurora-based Children's Hospital Colorado cautioned that it may close the cancer treatment center at its Colorado Springs hospitals and make other cuts because of Tricare reimbursement changes, the Denver Post reported May 29. -
Prime Healthcare to downsize Pennsylvania hospital
Prime Healthcare plans to convert Suburban Community Hospital, a 126-bed facility in East Norriton, Pa., into a microhospital that focuses on emergency care and services including imaging, lab and pharmacy. -
Advocate Health Q1 operating income grows to $103.7M
Charlotte, N.C.-based Advocate Health reported $103.7 million in first-quarter operating income, compared to $10.4 million during the same period in 2023, according to financial documents published May 28. -
Hospitals see gross revenues rise for 12th straight month
April marked the 12th consecutive month hospitals saw year over year gross revenue increases across both inpatient and outpatient metrics, according to a May 23 report from Strata Decision Technology. -
Michigan hospital CEO squashes rumors of birthing center closure
Mitch Leckelt, CEO of UP Health System - Bell in Ishpeming, Mich., has shut down rumors that the hospital's women's care and birthing center will be closing. -
10 hospitals, health systems pursuing CFOs
Several hospitals and health systems are on the search for a new CFO. -
CommonSpirit 'earnings not where we need them to be,' CFO says
The momentum behind CommonSpirit's financial rebound hit a speed bump in the third quarter of the fiscal year as the health system reported operating losses of $365 million and $411 million during the three- and nine-month periods ending March 31, 2024, compared to losses of $619 million and $1 billion during the same periods the year prior. -
Closed North Carolina hospital could reopen as rural emergency facility
There could be hope for the reopening of Williamston, N.C.-based Martin General Hospital as a rural emergency hospital after the facility closed last August and filed for bankruptcy.
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