Ascension and Presence Health signed a definitive agreement to bring Presence into Amita Health, a joint venture between Ascension and Adventist Midwest Health. The two systems signed a letter of intent six months ago.
Sens. Orrin Hatch and Charles Grassley want to know whether not-for-profit hospitals are abusing their tax-exempt status and what the IRS is doing about any potential violations.
The Texas system saw a strong first half for its fiscal 2018, including an operating margin of 8% compared with 4.7% in the first half of 2017. That comes after its profit grew 149% year-over-year in fiscal 2017.
Atrium Health, previously Carolinas HealthCare System, and Navicent Health signed a letter of intent to merge, the organizations announced Thursday.
The American Hospital Association's newly released 2018 report on hospital finance and utilization trends shows that collective profits among the nation's roughly 4,800 community hospitals increased to $76.1 billion in 2016, up from $73.3 billion in 2015.
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.