Financial and operational pressures continue for hospitals amid some positive signs
New financial data for the hospital industry illustrate continuing challenges even as some trends improve. Fitch Ratings released an analysis in early March that offers scant reason for optimism. Titled “Early NFP Hospital Medians Show Expected Deterioration; Will Worsen,” it draws on data from hospitals with earlier 2022 financial year-ends. Those numbers show “materially weaker…
Collecting with compassion: Patient financial care grows in importance
Health system leaders increasingly believe more communication is better when it comes to telling patients what they owe. When the pandemic began, Henry County Health Center’s revenue cycle department took a gamble to relieve the financial stress of care for patients. Executives for the 25-bed, Mount Pleasant, Iowa, critical access hospital, which serves a large…
News Briefs: Healthcare industry disrupter CVS Health to shell out billions to buy Oak Street Health
A month after stating it hoped to gain a presence in primary care, CVS Health accomplished that goal with a massive deal that could fortify its efforts to advance value-based payment in healthcare. The proposed $10.6 billion acquisition of Oak Street Health, a provider of senior-focused primary care, adds to a portfolio of assets that…
Expanding its capacity to disrupt healthcare, CVS Health shells out billions to buy Oak Street Health
A month after stating it hoped to gain a presence in primary care, CVS Health accomplished that goal with a massive deal that could fortify its efforts to advance value-based payment in healthcare. The proposed $10.6 billion acquisition of Oak Street Health, a provider of senior-focused primary care, adds to a portfolio of assets that…
Various data highlight the ongoing labor challenges facing hospitals and other healthcare providers
The healthcare labor picture may be stabilizing in some respects, but hospitals and other providers continue to feel the squeeze. The industry added 58,200 jobs in January, including 10,900 at hospitals and health systems, according to preliminary seasonally adjusted data from the U.S. Bureau of Labor Statistics. That jump follows an average monthly increase of…
Norton Healthcare commits time, money to improving health equity
In June 2020, Norton Healthcare, the largest health system in Louisville, announced five imperatives to address health inequities, four of them being: Start a health equity institute Improve diversity in its leadership ranks Educate its staff to advocate for health policy issues Invest more money to address health needs in underserved areas The remaining item…
CVS Health pushes forward with efforts to reshape segments of the healthcare industry
About two decades after adding the first three MinuteClinics to its stores, in 2005, CVS Health continues to grow as one of the biggest disruptors in healthcare. The company has embarked on a series of strategic transactions that make it a major player across an increasingly large swath of the industry, as described this month…
Labor costs and other concerns dampen the outlook for not-for-profit hospitals this year
Insights from a leading credit-rating agency illustrate the scope of the financial challenges facing not-for-profit hospitals in 2023.
Reeling hospital industry shouldn’t anticipate a turnaround anytime soon
Amid persistent financial and operational turbulence for hospitals, it appears unrealistic to expect significant improvement in the near future.