July 2023 Issue of Becker's Hospital Review
ON THE COVER
Jaewon Ryu, MD., CEO, Geisinger.
As Danville, Pa.-based Geisinger Health awaits the closure of a deal that will make it the first health system to join Kaiser Permanente's new nonprofit organization, Risant Health, President and CEO Jaewon Ryu, MD, said the system must remain focused on driving its strategy forward with "the same rigor to address the challenging headwinds our industry and our communities continue to face."
Ed Tucker, CFO, Simpson General Hospital
The recent fire-sale of First Republic Bank to JPMorgan Chase, the second largest bank failure in American history, is raising recession fears and forcing healthcare leaders to evaluate their exposure to macroeconomic risks.
Al White, CFO, Crawford Memorial Hospital
The recent fire-sale of First Republic Bank to JPMorgan Chase, the second largest bank failure in American history, is raising recession fears and forcing healthcare leaders to evaluate their exposure to macroeconomic risks.
ChatGPT outperforms physicians when answering patient questions
ChatGPT may be better at providing more empathetic answers to patient questions, according to an April 28 study published in JAMA Internal Medicine.
Kaiser Permanente acquiring Geisinger to launch Risant Health
Oakland, Calif.-based Kaiser Permanente has agreed to acquire Geisinger Health in a deal that will make the Danville, Pa.-based health system the first to join Risant Health, a new nonprofit organization created by the Kaiser Foundation Hospitals.
CommonSpirit taking 'decisive steps' to boost revenue, cut costs, CFO says
Chicago-based CommonSpirit posted $1.1 billion in operating losses for the nine months ending March 31. The 143-hospital system said it is taking measures to help turn the losses around.
CDC head departs
Rochelle Walensky, MD, is exiting her role as director of the CDC at the end of June.
11 highest paid CEOs in healthcare
Pharmaceutical and health insurance CEOs were among the highest-paid executives of the largest U.S. companies in 2022, according to Equilar.
House bill would give FTC authority over nonprofit hospitals
Lawmakers are reviving efforts to give the Federal Trade Commission authority to investigate nonprofit hospitals for anticompetitive behavior.
43% of physicians regret their career choice: AMA
Researchers discovered only 57.5 percent of physicians said they would choose to become a physician again, compared to 72.2 percent of physicians in 2020.
4 hospitals, health systems testing out ChatGPT
Generative AI such as ChatGPT, the artificial intelligence-based chatbot developed by OpenAI, is being touted as a tool that can revolutionize healthcare, and although it is pretty new, hospitals and health systems are working on piloting this technology to see if it can be applied to the clinical setting.
Why healthcare data privacy is an 'illusion,' according to Yale professor
Because so much patient information is digital nowadays, healthcare data privacy is just an "illusion" in the U.S., a Yale School of Medicine professor wrote June 1 in BMJ.
CFO / FINANCE
Kaiser Permanente acquiring Geisinger to launch Risant Health
Oakland, Calif.-based Kaiser Permanente has agreed to acquire Geisinger Health in a deal that will make the Danville, Pa.-based health system the first to join Risant Health, a new nonprofit organization created by the Kaiser Foundation Hospitals.
House bill would give FTC authority over nonprofit hospitals
Lawmakers are reviving efforts to give the Federal Trade Commission authority to investigate nonprofit hospitals for anticompetitive behavior.
'We never saw Risant Health coming': What leaders are saying about the Kaiser-Geisinger deal
Kaiser Permanente said there was a nearly sixfold increase in social media chatter about value-based care in the week after it unveiled its new company, Risant Health, and first member health system, Danville, Pa.-based Geisinger in late April.
CommonSpirit taking 'decisive steps' to boost revenue, cut costs, CFO says
Chicago-based CommonSpirit posted $1.1 billion in operating losses for the nine months ending March 31. The 143-hospital system said it is taking measures to help turn the losses around.
CommonSpirit taking 'decisive steps' to boost revenue, cut costs, CFO says
McLaren St. Luke's in Maumee, Ohio, will close May 8, one week earlier than initially planned, CBS affiliate WTOL11 reported.
CEO/STRATEGY
11 highest paid CEOs in healthcare
Pharmaceutical and health insurance CEOs were among the highest-paid executives of the largest U.S. companies in 2022, according to Equilar.
St. Luke Hospital CEO resigns
The CEO of St. Luke Hospital and Living Center in Marion, Kan., resigned during a May 2 board meeting, a hospital official confirmed to Becker's.
Georgia hospital lays off CEO, 3 other top-paid execs
Four of Habersham Medical Center's top executives have been laid off as part of cost-cutting measures before it joins Gainesville-based Northeast Georgia Health System on July 1, nowhaberbasham.com reported April 27.
THOUGHT LEADERSHIP
'An opportunity to enhance our model': Geisinger CEO Dr. Jaewon Ryu on Risant Health
As Danville, Pa.-based Geisinger Health awaits the closure of a deal that will make it the first health system to join Kaiser Permanente's new nonprofit organization, Risant Health, President and CEO Jaewon Ryu, MD, said the system must remain focused on driving its strategy forward with "the same rigor to address the challenging headwinds our industry and our communities continue to face."
Should hospital executives be concerned about a banking crisis? 4 CFOs weigh in
The recent fire-sale of First Republic Bank to JPMorgan Chase, the second largest bank failure in American history, is raising recession fears and forcing healthcare leaders to evaluate their exposure to macroeconomic risks.
INNOVATION
4 hospitals, health systems testing out ChatGPT
Generative AI such as ChatGPT, the artificial intelligence-based chatbot developed by OpenAI, is being touted as a tool that can revolutionize healthcare, and although it is pretty new, hospitals and health systems are working on piloting this technology to see if it can be applied to the clinical setting.
ChatGPT outperforms physicians when answering patient questions
ChatGPT may be better at providing more empathetic answers to patient questions, according to an April 28 study published in JAMA Internal Medicine.
Why healthcare data privacy is an 'illusion,' according to Yale professor
Because so much patient information is digital nowadays, healthcare data privacy is just an "illusion" in the U.S., a Yale School of Medicine professor wrote June 1 in BMJ.
CMO CARE DELIVERY
CDC head departs
Rochelle Walensky, MD, is exiting her role as director of the CDC at the end of June.
Mass Gen opens 'discharge lounge' to address capacity challenges
Massachusetts General Hospital has opened a "discharge lounge" — a new way the Boston-based hospital is alleviating capacity challenges.
43% of physicians regret their career choice: AMA
Researchers discovered only 57.5 percent of physicians said they would choose to become a physician again, compared to 72.2 percent of physicians in 2020.
WOMEN'S LEADERSHIP
Novartis taps new board members ahead of Sandoz spinoff
Drugmaker Novartis announced 10 members to its newly formed Sandoz board of directors May 15 ahead of its previously announced biosimilar spinoff. The Sandoz spinoff is an effort the company is making to keep a competitive pace with rising costs of brand name drugs.