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.
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.
CVS unveils new health-focused retail strategy, explicit move into primary care
Along with outlining three new store formats — including sites for primary care delivery, a new area for the retail drugstore behemoth — CVS plans to close 900 stores over the next three years as consumer buying patterns change.
FDA, aiming to curb another COVID-19 surge, clears Pfizer, Moderna boosters for all adults
The decision comes as at least 10 states are opening up booster dose eligibility beyond the current, more limited authorizations while cases remain at high levels.
MCIT breakthrough device payment pathway included in Cures 2.0 bill
Lawmakers on Tuesday introduced a revised MCIT proposal in the next version of the 21st Century Cures Act, following last week’s repeal of the final rule by CMS. Industry groups AdvaMed and MDMA both back the legislation.