St.-Louis-based Ascension reported a $79 million operating loss (-0.3% margin) for the 10 months ending April 30, a substantial improvement on the $1.2 billion operating loss in the previous 10-month period. 

Tom Golisano will donate $360 million to 82 nonprofits in New York, including $69 million to nine healthcare organizations.

As hospital margins gradually improve across the industry, a significant divide remains between higher- and lower-performing hospitals, with nearly 40% of facilities still operating in the red, according to Kaufman Hall. Multiple factors are contributing to this growing divide, including market positioning, payer mix, depth of outpatient services, wage inflation and the management of contract labor. 

CMS has updated guidance for hospitals interested in converting to a rural emergency hospital, a Medicare designation that was made available Jan. 1, 2023. 

This year's ransomware attack on Change Healthcare sent shockwaves through hospitals across the U.S., disrupting revenue cycle management, compromising data privacy, and threatening the financial stability of many healthcare providers already recovering from the pandemic's fiscal strain.

The buzz around artificial intelligence in healthcare can be wearying at times — Providence CFO Greg Hoffman has the inbox to prove it — but he and other health system CFOs are excited about AI's possibilities nonetheless. 

The average age of new CFO hires has increased over the past 10 years, according to a report from Crist Kolder Associates. 

As healthcare systems face an onslaught of regulatory updates, increased cyber threats, and shifting payment models, leaders must stay vigilant to ensure compliance and financial stability.

Signature Psychiatric Hospital will close its two locations in Kansas City, Mo., and Liberty, Mo., affecting 154 employees. 

A West Virginia hospital that closed in 2020 has received a license that will allow it to operate the 76-bed facility, according to a Sept. 16 report from CBS affiliate WOWK.  

Hospital consolidation is gathering momentum across the country and is poised to grow on a much larger scale than before the pandemic, mirroring trends seen in other industries such as banking.

On average, supply costs comprise about 10.5% of a hospital's budget, the American Hospital Association said in its "Cost of Caring" report, citing data from Strata Decision Technology. 

Mercy Health Select, an accountable care organization part of Cincinnati-based Bon Secours Mercy Health, has welcomed University of Toledo Physicians to its Medicare Shared Savings Program.

Corvallis, Ore.-based Samaritan Health Services has laid off about 80 employees, around 1% of its workforce, and has implemented temporary pay cuts for senior leaders for the remainder of 2024.

Cleveland-based University Hospitals posted an operating loss of $118.9 million (-3.8% margin) in the first half of 2024, compared to a loss of $73.9 million (-2.5% margin) over the same period in 2023, according to its financial report released Sept. 13. 

While many hospitals are continuing to see margin improvements, other facilities continue to face financial setbacks related to cost and workforce challenges, among others, ultimately leading to service cuts and closures. 

Revenue cycle automation platform Candid Health raised $29 million in Series B funding. 

The rising cost of care, growing Medicare Advantage pain points, and frustrations over not receiving appropriate or timely payments from commercial insurers are key factors driving health systems to take a tougher stance in contract renewal negotiations.

The hospital workforce is critical to the care process and is most often the largest expense on a hospital or health system's balance sheet. Even before the pandemic, labor expenses — which include costs associated with recruitment and retention, employee benefits and incentives — accounted for more than 50 percent of hospitals' total expenses, according to the American Hospital Association. 

Portland, Maine-based Saint Joseph's Rehabilitation and Residence, a post-acute facility and subsidiary of Portland-based MaineHealth Maine Medical Center, will close Sept. 20 to create a path for an updated facility to offer stronger long-term care amenities.