Cooper University Health Care has dropped plans to buy three Trinity Health hospitals in New Jersey, citing compliance, legal, regulatory and operational reasons. The two systems signed a letter of intent in August.
A handful of California hospitals are asking the state's attorney general to let them lower their state-mandated charity care costs, after the AG's predecessor denied the requests. Now that more patients have insurance, the hospitals say the need for charity care is far lower.
Hospitals are having to cover more of the cost of caring for Medicaid patients, and that growing figure is being increasingly reflected in their community benefit reports that are used to defend their tax-exempt status.
The mounting bipartisan push to block or delay the CMS' planned $1.6 billion in Medicare cuts to 340B hospitals before the end of the year has the attention of congressional leaders.
More than a year after proposing a merger, Catholic Health Initiatives and Dignity Health have signed a definitive agreement to create the nation's largest not-for-profit hospital system in the country by operating revenue. The deal could speed up financially struggling CHI's turnaround.
Reimbursement rate increases below inflation coupled with the continued swelling of staffing and tech expenses will put a damper on not-for-profit and public healthcare next year, Moody's Investors Service said. It downgraded its outlook on the sector to negative for 2018.
Montefiore Medical Center, part of Montefiore Health System, reported income from operations before investment gains of $20.5 million on revenue of nearly $3 billion through the first nine months of fiscal 2017.
George Miller Jr., who formerly oversaw a large network of clinics in Texas and was on the Medicare Payment Advisory Commission under Presidents George W. Bush and Barack Obama, took over on Nov. 1.
Sanford Health added to its growing international portfolio by acquiring a minority stake in Isar Klinikum, a hospital based in Munich. Sanford plans to work intimately with the German hospital on stem cell therapy.
Scripps Health has revealed its construction plan to update its five hospital campuses, the largest building project the San Diego-based health system has ever undertaken.
Grand Blanc, Mich.-based McLaren Health Care Corp., a 12-hospital not-for-profit integrated health system, has acquired MDwise, a 360,000-enrollee Medicaid health plan in Indianapolis, for an unspecified amount.
Rhode Island has fined a healthcare system $1 million for converting two hospitals to not-for-profit status without state approval.