Today's Top 20 Health Finance Articles
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New York mulls closure of SUNY Downstate
The State of New York is planning to significantly shrink or possibly close University Hospital at Downstate in Brooklyn due to concerns that include low patient volumes, a deteriorating hospital building and an operating deficit of about $100 million, The New York Times reported Jan. 20. -
Intermountain ends precision medicine program
Intermountain Health will end and divest its Precision Genomics Laboratory Feb. 1. -
Steward money woes could spur Massachusetts PHE
Massachusetts is pressuring Steward Health Care to develop a restructuring plan or risk sending the state into a public health emergency, The Boston Globe reported Jan. 19 -
41 hospitals, health systems cutting jobs
A number of hospitals and health systems are reducing their workforces or jobs due to financial and operational challenges. -
Washington hospital charity care report retracted
Northwest Health Law Advocates has retracted a report it published about Washington hospitals' charity care alongside other consumer organizations in December. -
Hearing set over Minnesota hospital's labor and delivery closure
The Minnesota Department of Health is holding a public hearing Jan. 30 over the labor and delivery services closure at Essentia Health-Fosston (Minn.) hospital. -
Virginia health system to outsource 98 jobs
Inova Health is outsourcing 98 jobs, according to regulatory documents filed with the state Jan. 16. -
Commercial payer behavior in hospital group's crosshairs
American Hospital Association President Rick Pollack said one of the organization's top priorities for 2024 is holding commercial insurance companies accountable for their behavior, The Washington Post reported Jan. 17. -
Public payer-provider fights increase nearly 70%
Contract negotiation disputes between payers and providers that were reported in the media increased 69% between 2022 and 2023, and the number of communities affected across the country grew as well, according to data published Jan. 16 by FTI Consulting. -
Trinity hospital's plan to cut maternity care rejected
Connecticut's office of health strategy has rejected Johnson Memorial Hospital's proposal to close its labor and delivery unit, arguing that it would adversely affect the less wealthy, reduce access to care and not save patients money, CT Insider reported Jan. 18. -
Lehigh Valley Health to end chiropractic services
Allentown, Pa.-based Lehigh Valley Health Network is cutting its chiropractic services and laying off 10 chiropractors effective April 12 due to restructuring. -
Congress passes on another chance to halt Medicare physician pay cuts
Congress averted a government shutdown for now but opted not to halt the 3.37% Medicare pay cut hitting physician practices this year. -
Hopes high that private equity can help rural healthcare
About 66% of people said private equity can play a role in improving rural healthcare, according to a LinkedIn poll conducted by Becker's. -
Northwestern operating profit jumps 47% in FY Q1
Chicago-based Northwestern Medicine posted an operating income of $110.1 million in the first quarter of fiscal 2024, which ended Nov. 30, a 47% increase from the $74.7 million reported during the same period last year. -
Intermountain physician group to close or sell
Nampa, Idaho-based Saltzer Health, a physician group that's part of Salt Lake City-based Intermountain Health, is planning to shut down or sell by March 29 due to financial and economic challenges. -
General Catalyst to retire $800M of Summa Health's debt
General Catalyst's Health Assurance Transformation Corp. announced plans to acquire Akron, Ohio-based Summa Health Jan. 17 in a bid to broaden its healthcare portfolio. The transaction may improve the hospital's financial position and debt situation. -
Wisconsin system gets rating downgrade amid furloughs, canceled merger
Fitch Ratings has downgraded Marshfield (Wis.) Clinic's issuer default rating as well as the ratings on revenue bonds issued by Wisconsin Health and Educational Facilities Authority on behalf of the system to "BBB" from "BBB+." -
What Bon Secours Mercy Health's CFO is optimistic about in 2024
From expanding Bon Secours Mercy Health's digital presence to improving cash flow and margins, here is what Deborah Bloomfield, PhD, the Cincinnati-based system's CFO, told Becker's she is most optimistic about in 2024: -
Regional West faces negative outlook despite improvements
Fitch Ratings has maintained the issuer default and bond ratings for Scottsbluff, Neb.-based Regional West Health Services at "BB-," but has lifted the ratings from rating watch negative and assigned a negative rating outlook, according to a Jan. 18 report from Fitch. -
There's a new financial 'talent hub' — and it's not New York
For finance experts looking for a place to launch, Dallas is the new New York, according to a recent report from Korn Ferry.
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