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.
Healthcare News of Note: How many hospitals earned a Leapfrog Top Hospital Award in 2022?
The Leapfrog Group said 115 facilities earned Top Hospital Awards and 12 earned Top ASC Awards. Around 1.3 million people with diabetes rationed insulin this past year because of the cost, according to recent study findings. Reducing burnout among nurses of color and those under age 35 is the goal of a three-year, $3.1 million…
The hospital labor picture could be improving, but a full financial recovery isn’t imminent
The financial and operational stress that has hampered hospitals may be easing in some ways, but probably not enough to qualify as a holiday gift for a beleaguered industry. Recent reports from credit-rating agencies have presented a mixed outlook. For example, Fitch Ratings released an analysis in December showing “incremental signs of improvement” in the staffing situation…
Florida Chapter fosters industry innovators
HFMA’s Florida Chapter hosted a Professional Development & Innovator Workshop on Sept. 18, the first day of its 2022 Fall Conference at the Margaritaville Resort in Hollywood, Florida. This wasn’t the Chapter’s first professional development workshop. It was, however, different from those previously offered. A shift in focus That difference was due to the Chapter’s…
Pete November is new CEO at Ochsner Health
The Ochsner Health board of directors has unanimously appointed Pete November, JD, CPA, as CEO. November previously served as executive vice president and CFO of the New Orleans-based health system. “Pete is an exemplary leader who has a deep understanding of Ochsner Health, our patients and the communities we serve,” said Andy Wisdom, Ochsner board…
Aaron Crane: HFMA launches DEI task force
Season’s greetings to everyone! As we prepare to close out 2022 and ring in a new year, I am excited to let you know about the HFMA Board of Directors’ recent decision to launch a task force on Diversity, Equity and Inclusion (DEI). But first, a bit of background. Earlier this year, Deloitte published an…
Healthcare News of Note: Advocate Aurora Health and Atrium Health megamerger complete
Healthcare News of Note for healthcare finance professionals is a roundup of recent news articles: Atrium and Advocate Health close merger deal, CMS details expectations of hospitals in memo addressing workplace violence, and CMS plans to recoup $650 million in overpayments to Medicare Advantage plans.
How healthcare organizations can defend against financial hazards in 2023
What are the most critical strategies to steer healthcare organizations in the direction of financial stability in the following year and beyond? A couple tips include reducing bad debt and accessing external benchmarks for supply pricing.
7 tips for successful M&A integrations
When companies go through mergers and acquisitions (M&A), how do leaders manage integrating teams and culture? Read through some tips from a health care transaction principle who assists health systems across the M&A life cycle.
Wendy Fielding: Healthcare CFOs can benefit from having a financial analyst’s perspective
Wendy Fielding, MBA, a 30-year member of HFMA, and CFO and system vice president of finance at Dartmouth-Hitchcock in Lebanon, New Hampshire, values the lessons she learned from her early experience as a financial analyst in healthcare. And she applies those lessons learned as she helps her organization today realize its commitment to value-based care and improving access to care for its patients.