Medtronic blames revenue miss on COVID-19 resurgence, hospital staffing shortages
CEO Geoff Martha said the medtech was hit in its second quarter by pandemic-related challenges that weighed on procedure volumes, particularly in the U.S.
Anesthesiologists say Blue Cross NC ‘abusing’ surprise billing ban to drive down rates
Doctors are raising the alarm against what they perceive as Blue Cross NC’s “take it or leave it” ultimatums to in-network clinicians, using the consumer protection legislation as a bargaining chip to negotiate more favorable rates.
Advocate Aurora hit by margin pressure in Q3
The nonprofit system saw a major increase in spending on contracted medical services as well as a jump in supply costs.
Biden admin investing $1.5B to quell healthcare staffing shortages, promote workforce equity
The funding will go toward scholarship and loan repayment programs for healthcare students committing to work in hard-hit and high-risk communities, according to the White House.
Kaiser Permanente’s historic labor-management deal survives again
Over the years, workers describe a dwindling partnership. Some believe it is this deterioration that led the organization to where it is today — recently on the brink of a major work stoppage following disputes over a new contract.
Ascension reports second-highest COVID-19 inpatient count
The St. Louis-based nonprofit reported operating income of $25 million for the quarter, a steep decline from the prior-year period.
EHR vendor Athenahealth bought out in $17B private equity deal
The transaction, which will be financed through a mix of equity and debt, is expected to be completed in the first quarter of next year and is the latest in a recent string of large leveraged buyouts.
Ground ambulances, excluded from surprise billing ban, to get scrutiny from federal committee
Recommendations from the new federal advisory committee will help inform policy changes to improve how charges and fees for ground ambulance services are disclosed to consumers, CMS said.
Labor, supply chain pressures mount for US hospitals, Fitch says
The ratings agency said staffing shortages, higher transportation costs and trouble sourcing some materials threaten healthcare revenue and operating margins in the near term.
Mayo Clinic reports jump in operating income during Q3
The Rochester, Minnesota-based nonprofit reported robust financial results as revenue grew 10%, outpacing expense growth during a quarter in which rising costs challenged many systems due to heightened labor demands.