From an Iowa hospital pointing to a difficult EHR implementation for its bankruptcy to hospitals pushing back against Medicare Advantage plans, here are 10 of the most viewed finance stories Becker's reported in 2023, listed in reverse chronological order:
1. Iowa hospital blames EHR install for bankruptcy
Mercy Iowa City (Iowa) cited a difficult EHR implementation as one of the primary reasons for filing for bankruptcy in August.
2. Hospitals are dropping Medicare Advantage plans left and right
Medicare Advantage provides health coverage to more than half of the nation's seniors, but a growing number of hospitals and health systems nationwide are pushing back and dropping some or all contracts with the private plans altogether.
3. HCA goes on a spending spree
It's been an expensive last few months for Nashville, Tenn.-based HCA Healthcare as the hospital operator continues to invest in large projects and multiple transactions.
4. CMS drops 4 final payment rules for 2024
CMS on Nov. 2 released annual payment updates for physicians, hospital outpatient settings and the Medicare Shared Savings Program as well as a remedy for the 340B-acquired drug payment policy.
5. CommonSpirit consolidates regional divisions, reviews portfolio
Chicago-based CommonSpirit, one of the largest nonprofit health systems in the country, is undergoing a "comprehensive portfolio review" as it reorganizes into fewer geographical regions, its CFO told an investor call Oct. 12.
6. How Ascension is paring down amid $3B loss
St. Louis-based Ascension has reported a $3 billion operating loss on revenues of $28.35 billion in fiscal year 2023 as it struggled to address high operating costs and sustained revenue challenges. This year, Ascension created the new role of president and strengthened its leadership at the national and market levels to improve hospital operations and ensure sustainability for the future.
7. 'We can do anything, but we can't do everything': Tough decisions loom for hospital C-suites
Hospitals spent years adding specialists and service lines to meet the needs of anyone in the community, no matter the issue. But that strategy has become unsustainable for many hospitals, especially in rural areas that were financially struggling ahead of the pandemic.
8. Healthcare's affordability problem is about to get worse
Healthcare's current-day reality and the financing behind it are like a TV with lip sync problems. As you watch healthcare events and disruptions unfold, their effects on pocketbooks are delayed.
9. Tenet, HCA, Optum compete for market share in emerging battleground
Health systems are ramping up investments in ambulatory surgery centers and forming joint ventures with outpatient partners to accelerate the development of new centers. The trend is picking up steam as complex procedures increasingly move to ASCs, which are steadily growing as the preferred site of service for physicians, patients and payers.
10. Envision files for bankruptcy
Envision Healthcare, a private equity-backed physician services company and ambulatory surgery center operator, filed for bankruptcy May 15.