Community Health System CEO Wayne Smith and CFO Larry Cash attained just 13% and 15%, respectively, of their financial and operating targets in 2016.
Community Health Systems' aggressive divestiture and fourth-quarter performance caused its stock to jump 32% in mid-afternoon trading Tuesday. But CHS' rally to around $9 a share is a far cry from the $64.04 stockholders enjoyed in June 2015.
Community Health Systems has agreed to sell eight hospitals to subsidiaries of Steward Health Care in its single biggest divestiture package to date. Three of the hospitals are in Florida, three in Ohio and two in Pennsylvania.
New survey data from the American Hospital Association underscore the wide variation in hospital expenses from state to state and between different types of facilities.
When it comes to provider consolidation, 2016 may well be remembered as the great unraveling.
HCA Holdings is expecting to report $4.5 billion in income before taxes for 2016, a 13.7% increase from the previous year. The Nashville-based system also expects to report a 1.6% increase in same-facility admissions for the fourth quarter of 2016 compared to the same period in the previous year.
Iasis Healthcare is making a year-end exit from the Arizona insurance exchanges but not before racking up more big losses on the business. It contributed the largest share of a $76.3 million net loss from continuing operations in the company's fiscal fourth quarter.
Hospital stocks, led by Universal Health Services, fell harder than the equity markets Wednesday on the Federal Reserve's expected decision to raise benchmark interest rates one-quarter of 1%.
The share price of Universal Health Services plunged 12% Wednesday after BuzzFeed published an investigative story alleging the for-profit hospital operator kept psychiatric patients longer than necessary to milk their insurance.
Some researchers and health policymakers had hoped the blitz of retail clinics across the country would reduce visits to the ER. A new study from Rand Corp. finds that isn't the case.
Investors have yet to put a floor beneath hospital and physician-staffing stocks that plummeted after Donald Trump's election to the presidency. Many provider stocks are down double digits since Tuesday on what executives believe are exaggerated jitters.
Tenet Healthcare Corp. on Friday tapped Dr. Octavio Diaz to be chief medical officer of the Dallas-based 79-hospital system effective Dec. 1.