R1 RCM expects the Ascension ransomware attack to drag down its revenue by between $75 million and $95 million in 2024, primarily because of a delay in timing of revenue from the second half of 2024 into the first half of 2025, executives said Aug. 7 during the company's second-quarter earnings call.

Walgreens shared in an Aug. 7 Securities and Exchange Commission filing that it could sell off its entire stake in primary care clinic chain VillageMD.

When Dallas-based Steward Health Care shared plans to close two of its Massachusetts hospitals and lay off 1,243 employees, its CEO, Ralph de la Torre, MD, was in France at Versailles for the equestrian 2024 Olympic events, according to the Boston Globe. 

R1 RCM reported revenues of $627.9 million in the second quarter, up $67.2 million (12%) over the same period last year, according to financial results published Aug. 7.

Median days cash on hand dipped to a 10-year low for U.S. hospitals and health systems, according to an Aug. 7 S&P Global Ratings' report.

The Los Angeles County Board of Supervisors passed an ordinance Aug. 6 that will require hospitals to inform the county's health department of attempts to collect medical debt from patients, according to the Los Angeles Times.

As the Medicare Advantage landscape evolves, the success of health systems hinges on their ability to adapt and excel in key areas such as star ratings and appropriate coding. 

Jeff Costello has been CFO of South Bend, Ind.-based Beacon Health System since 1995. Over his nearly three decades with the health system, Mr. Costello has worked to adapt to constant change within healthcare.

The board of directors for Desert Healthcare District and Foundation voted Aug. 6 to put a 30-year hospital lease purchase agreement with Dallas-based Tenet Healthcare on the Nov. 5 ballot for Coachella Valley, Calif., voters, according to a Desert Healthcare District and Foundation Aug. 6 LinkedIn post.

Vancouver, Wash.-based PeaceHealth reported a $95.6 million operating loss (-2.7% margin) for the fiscal year ended June 30, compared to a $240.7 million loss (-7.3% margin) last year, according to financial results published Aug. 7.

The gap between hospitals with strong and weak margins is growing, according to Kaufman Hall, and the top hospitals are vigilant about evaluating their physician strategies.

Winston-Salem, N.C.-based Novant Health called off its plan to buy two Community Health Systems hospitals after a lengthy battle with the Federal Trade Commission, but the 19-hospital system is growing rapidly in North Carolina and South Carolina and showing no signs of slowing down. 

Hospitals are tinkering with artificial intelligence solutions to alleviate cost pressures, but the safe integration of AI can be a challenging endeavor, not a quick fix to decrease spending. 

Warren (Ohio) City Hospital, the name of a collaborative group of business and community leaders, has shared plans to acquire Dallas-based Steward Health Care's Warren, Ohio-based Trumbull Regional Medical Center. 

CVS Health is intensifying its cost-cutting efforts with a new $2 billion initiative, adding to a previous plan to reduce costs by hundreds of millions.

The nation's largest children's hospital is laying off approximately 1,000 employees, including front-line healthcare workers and those in leadership positions, The Houston Chronicle reported Aug. 6. 

Dallas-based Tenet Healthcare is transforming its portfolio into a more value-based care enterprise with a leading specialty care platform and is rapidly selling hospitals while simultaneously adding ambulatory surgery centers. 

Des Moines, Iowa-based MercyOne shared plans to close its MercyOne Primghar (Iowa) Medical Center by Sept. 30.

U.S. Bankruptcy Court Judge Christopher Lopez approved an emergency motion filed by  Massachusetts Gov. Maura Healey's administration to provide Dallas-based Steward Health Care with $30 million in an Aug. 6 hearing.

Rob Chestnut might have started his new role as CFO of Lawrence, Kan.-based LMH Health a little more than two months ago, but Lawrence Memorial Hospital and the community it surrounds has always held a special place in his heart.