Today's Top 20 Health Finance Articles
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Florida facility lays off 56 employees
Doral, Fla.-based Sanitas Medical Center laid off 56 employees between May 17 and May 20. -
Delaware lawmakers consider hospital cost review board
A bill that would create a hospital cost review board has passed Delaware's state House, Delaware Online reported May 22. -
Health systems' hard line on insurers pays off
Health systems are taking a tougher stance with commercial payers, arguing that they are not being adequately reimbursed for services provided to patients, and some providers have gone out of network if contract renewal offers have not been up to par. -
UPMC posts $103M operating loss in Q1
Pittsburgh-based UPMC posted a $103 million operating loss (-1.4% margin) in the first quarter of 2024, down from an operating gain of $100 million (1.5% margin) posted over the same period last year, according to its May 22 financial report. -
Union attempt to carve out NewYork-Presbyterian met with $25M bill: WSJ
A union faced a $25 million expense when it tried to drop NewYork-Presbyterian from its Aetna provider network, a price tag reportedly tied to past medical services, The Wall Street Journal reports. -
Tufts Medicine to lay off 174 employees, including leaders
Burlington, Mass.-based Tufts Medicine will lay off 174 employees due to industry challenges, the health system confirmed in a May 21 statement shared with Becker's. -
Mayo Clinic operating income up 143.6% in Q1
Rochester, Minn.-based Mayo Clinic saw an operating income of $363 million (7.7% operating margin) in the first quarter of 2024, up 143.6% from $149 million (3.5% margin) posted over the same period last year, according to its May 20 financial report. -
Ascension posts $1.3B operating turnaround; CFO confident system will 'stay on this course'
St. Louis-based Ascension has reported an operating loss of $82.6 million in the quarter ending March 31, representing about a $1.3 billion improvement on the $1.4 billion operating loss posted in the same quarter last year, according to financial documents published May 17. -
Chapter raises $50M to expand Medicare decision support
Chapter, a Medicare navigation platform, raised $50 million in series C funding to expedite product development and hiring to provide unbiased Medicare decision guidance to Americans selecting healthcare coverage. -
How Providence aims to 'deconstruct and diversify' healthcare
Renton, Wash.-based Providence is making progress on several key initiatives to "deconstruct and diversify healthcare" by investing in areas including non-acute care, IT services and technology platforms, according to financial documents published May 17. -
Howard Brown Health to shutter 2 Chicago clinics
Chicago-based Howard Brown Health has shared plans to close its Chicago clinics this fall. -
Bon Secours Mercy Health posts $29.5M operating income in Q1
Cincinnati-based Bon Secours Mercy Health reported an operating income of $29.5 million in the first quarter of 2024, up from a $60 million loss reported over the same period last year, according to its May 20 finance report. -
Pennsylvania Prime Healthcare hospitals to become nonprofit
Ontario, Calif.-based Prime Healthcare has shared plans to convert its Pennsylvania hospitals to nonprofit status. -
Hospital groups seek more time to comment on proposed payment model
The American Hospital Association and the Federation of American Hospitals are asking for more time to comment on CMS' proposed Transforming Episode Accountability Model. -
HCA execs sell nearly $10M of stock
There has been an uptick in Nashville, Tenn.-based HCA Healthcare executives offloading their shares in the company over the past few weeks. -
Trinity net income jumps 46% to $1.3B; balance sheet 'remains strong'
Livonia, Mich.-based Trinity Health reported a 47.3% year-over-year increase in net income to $1.3 billion for the nine months ending March 31, 2024, according to financial documents published May 17. -
Baylor Scott & White Health raises operating margin to 8.5%
Dallas-based Baylor Scott & White Health posted $967 million in operating income (8.5% margin) through the first nine months of fiscal year 2024, up from $743 million (7.2% margin) over the same period last year, according to the health system;s May 17 finance report. -
Optum laying off 129, closing Ohio facility
Optum is closing a Change Healthcare facility in Toledo, Ohio, resulting in the termination of 129 employees located in Ohio or working remotely. -
Providence CFO eyes 'strong 2024' after $176M operating gain in Q1
Renton, Wash.-based Providence is back in the black after reporting a $176 million operating gain (2.3% margin) in the first quarter, a significant improvement on the $345 million operating loss (-5.1% margin) reported in the first quarter of 2023. -
UHS exec sells $130K of stock
Warren Nimetz, a director at King of Prussia, Pa.-based Universal Health Services, sold 725 shares of the company's stock on May 16, according to a recent Securities and Exchange Commission filing.
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