The proposed tie-up between Dallas-based Baylor Scott & White Health and Houston-based Memorial Hermann Health System poses an increasingly important antitrust question given the prevalence of cross-market hospital mergers, regulatory experts said.
Grand Rapids-based Spectrum Health, one of Michigan's largest not-for-profit health systems, and Lakeland Health, a three-hospital system based in St. Joseph, signed final merger agreement documents Monday.
The last four markets to adopt the Ascension brand have about 100 care-delivery sites, as Baltimore's Ascension St. Agnes, Indiana's Ascension St. Vincent, Oklahoma's Ascension St. John and Ascension St. Thomas in Tennessee add Ascension to their names.
Investment returns last year were the best since 2013 for the not-for-profit healthcare organizations participating in a survey released by the Commonfund Institute. But, the report says, reallocation of assets into more fixed-income investments may slow returns in the future.
Downgrades are outpacing upgrades in the not-for-profit hospital sector. Ratings analyst Lisa Goldstein discusses that trend, along with the impact of merger and acquisition activity.
For the second consecutive year median operating margins fell, hitting 1.9% in 2017, down from 2.8% the year prior. Still, improved liquidity measures bode well for not-for-profit hospitals.
The state Supreme Court upheld a ruling allowing certain medical centers to use charity to offset their property tax bills, a matter that drew controversy a few years ago.
The not-for-profit California health systems plan to expand their care sites with more Marin and UCSF providers and specialists throughout Marin County.
The combined system has 43 hospitals, $8 billion in net operating revenue and more than 57,000 employees, including a new leadership team.
Not-for-profit hospitals have begun to rein in labor and supply expenses, but revenue is declining at a quicker pace and has created a widening, unsustainable chasm, according to Moody's Investors Service.
Knoxville, Tenn.-based Curae Health filed for Chapter 11 bankruptcy reorganization, citing declining revenue and higher-than-expected costs for electronic health records. It will keep operating three Mississippi hospitals until it can sell them.
Oakland, Calif.-based Kaiser Permanente saw a 47% drop in operating income in the second quarter of 2018 compared with the prior-year period, despite reporting higher revenue.