Hospital closures and major health systems' financial performance captured the attention of Becker's Hospital Review finance readers in October.
The following are the 10 most popular finance stories from Becker's in the past month.
1. Los Angeles hospital to close, lay off 638 employees
Pacific Alliance Medical Center in Los Angeles will close Dec. 11. The hospital, which has provided care for more than 150 years, cited the costs of retrofitting its facilities to meet California's seismic standards as the reason for the closure.
2. Tennessee hospital closes after falling 94% short of GoFundMe goal
Copper Basin Medical Center, a critical access hospital in Copperhill, Tenn., closed Oct. 1. The hospital launched a GoFundMe page earlier this year to help stay afloat, but the facility closed after falling 94 percent short of its $100,000 goal.
3. Tenet shutters 4 regional management offices to cut costs
Tenet Healthcare closed four regional management offices as the Dallas-based hospital operator continues efforts to improve its financial picture.
4. Florida hospital to suspend all services as it seeks capital
The Miami Medical Center, a 67-bed hospital, suspended patient services Oct. 30 as it works to secure more capital or a buyer.
5. Shareholders push for changes at Tenet and CHS: 6 things to know
Tenet Healthcare and Franklin, Tenn.-based Community Health Systems are facing pressure from shareholders as the two for-profit hospital operators struggle with heavy debt loads and plunging share prices.
6. Tenet to close 232-bed Phoenix hospital
Tenet Healthcare will close Abrazo Maryvale Campus, a 232-bed hospital in Phoenix, by the end of the year.
7. California hospital suspends all services, notifies 524 employees of possible layoffs
Tulare (Calif.) Regional Medical Center shut down Oct. 29, as the local healthcare district is voluntarily suspending its license with the state to operate the 112-bed hospital, as well as clinics and other outpatient facilities.
8. Tenet reports $366M net loss, plans to cut 1,300 jobs
Tenet Healthcare ended the third quarter with a net loss, but the 77-hospital chain is launching a $150 million cost reduction plan to improve its finances.
9. CMS revokes physician's Medicare billing privileges over $670 in questionable charges
Bryan Merrick, MD, a physician at McKenzie (Tenn.) Medical Center who has been practicing medicine for more than three decades, says CMS pulled his Medicare billing privileges due to clerical errors.
10. Dignity Health's operating loss widens to $66.8M with loss of state provider-fee revenue
Dignity Health, a 39-hospital system based in San Francisco, saw its operating loss widen in fiscal year 2017 even as it booked higher revenue and held expenses in check. However, like many systems, it benefited from higher investment income.
More articles on healthcare finance:
10 hospital closures so far in 2017
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