You are here

Finance

 

Minnetonka, Minnesota-based Medica has reached a deal with Mayo Clinic to acquire its Mayo Clinic Health Solutions division, also known as MMSI, for an undisclosed sum.

In a first for the Internal Revenue Service (IRS), it stripped a hospital’s nonprofit tax status over failing to meet charity care requirements which went into effect, though the unnamed hospital also claimed it didn’t want or need tax-exempt status.

If payment of cost-sharing reduction subsidies, or CSRs, for insurers offering coverage on the Affordable Care Act (ACA) marketplace are terminated, premiums would be 20 percent higher on average in 2018 and federal spending would increase, but the ACA market would remain stable, according to the Congressional Budget Office.

When it comes to finding waste in their labor costs, healthcare leaders need to sweat the small stuff, according to Chip Newton, senior manager at Deloitte Consulting LLP.

CMS has pushed back the deadline for insurers to file their final 2018 rate requests for the Affordable Care Act (ACA) exchanges until Sept. 5, giving companies extra time to decide what plans and prices to offer.

 

Recent Headlines

Physicians contributed $1.6 trillion to economy in 2012

A new report commissioned by the American Medical Association attempts to quantify the direct and indirect economic output of physicians in order to educate policy makers and the public.

Kansas cancer center settles with DOJ for $2.9 million

Hope Cancer Institute in Kansas City and its owner Raj Sadasivan, M.D., were accused of submitting Medicare claims for chemotherapy drugs that were never provided.

Lowell General Hospital and Tufts Medical Center form new health system

Boston’s prestigious Tufts Medical Center teaching hospital will partner with Lowell General Hospital, a community hospital with two campuses in Lowell, Mass., under a new parent company yet to be named.

ACA could raise your malpractice insurance rates

A key element of healthcare is leveraging technology and system efficiencies to allow individual providers to see more patients. But as the number of patients goes up, so does a provider’s malpractice risk according to a new study from the RAND Corporation.

Mergers and acquisitions continue at fast pace, especially for not-for-profits

A new report by independent consulting firm Kaufman Hall finds that U.S. hospital merger and acquisition activity increased 3 percent in 2013, with deals announced for 98 hospital and health system combinations.

Massachusetts state officials working to re-open bankrupt rural hospital

The abrupt closure of North Adams Regional Hospital in the rural community of North Adams, Mass., created a public outcry and has gotten legislators and policy makers involved in trying to broker a deal whereby another health system may be able to take over and re-open the facility.

ICD-10 delay positive for not-for-profit hospitals says finance firm

Credit ratings and research firm Fitch Ratings has analyzed the one-year delay on ICD-10 implementation and come to the conclusion that it will help more than hurt the finances of not-for-profit hospitals.

SC health system loses right to build new hospital to Tenet competitor

South Carolina’s fractured certificate of need (CON) process for new hospital construction has led to a protracted fight over who would be allowed to build a new hospital in Fort Mill, S.C. On Tuesday, a judge took the CON last awarded to Carolinas HealthCare System in 2011 and handed it to competitor Piedmont Medical Center, a hospital operated by a Tenet Healthcare subsidiary.

Montana’s largest healthcare provider adds medical center in Missoula

The Board of the non-profit community-owned Community Medical Center in Missoula, Mont., has approved a joint venture with the Billings Clinic and RegionalCare Hospital Partners that would, among other objectives, switch it to a for-profit entity.

RAC report to Congress disputes accusations of poor accuracy

Without mentioning critics by name, the annual report to Congress on the Medicare Recovery Audit Contractor (RAC) program released this week makes a point of showing measures of its accuracy and its steps to reduce the burden on healthcare providers.

Pages