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But hospitals may be a health care giant they’re unable to confront alone. And after 20 years, they finally delivered on a promise to empower the federal government to lower drug prices in 2022. But the remaining elephant in the room is hospital costs, which make up the biggest share of U.S. health care spending.
Large hospital systems’ investments rebounded heavily in the final quarter of 2022, according to a new STAT analysis of financial filings. STAT analyzed the financial documents of 37 tax-exempt, not-for-profit health systems covering the last three months of 2022.
The prices charged by hospitals are exorbitant and rising. trillion in 2022 , finding ways to cut costs has become increasingly urgent. . $21,500 for ten stitches. Private health insurance premiums paid by working age adults are rising rapidly. health care spending reaching $4.5
Federal rules forcing hospitals and insurers to post rates for medical procedures have taken effect, but the data’s so messy that a crop of new startups is rushing in to make a business out of parsing it for whoever is willing to pay. Continue to STAT+ to read the full story…
When children’s hospitals around the country were subject to threats and harassment in 2022 over misconceptions about gender-affirming care services, many of them responded by stripping information about the care from their websites.
The federal government is suing to block a proposed hospital deal in North Carolina, alleging it would hand control of over 65% of the inpatient market in the region to a single provider. billion in 2022 revenue, plans to buy two hospitals in the same county from the for-profit chain Community Health Systems for $320 million.
SAN FRANCISCO — Rising labor costs have been the main financial concern for hospitals over the past year, but those costs have peaked and are now a lot lower, according to hospital system executives who presented during the J.P. Morgan Healthcare Conference. Continue to STAT+ to read the full story…
For almost three years, hospitals and health insurers have been riding the waves of the Covid-19 pandemic. As a result, Medicaid enrollment soared more than 30% from December 2019 to August 2022 , reaching 83.5 Even though they can better predict what lies ahead in 2023, there remain several big unknowns. million people.
Hospitals are frustrated with a nationwide nursing shortage that’s only gotten worse since the pandemic. In 2022, the American Hospital Association quoted an estimate that half a million nurses would leave the field by the end of that year, bringing the total shortage to 1.1
recently recalled a slew of injectable medicines used by hospitals over concerns about possible side effects and a newly released regulatory report underscores the extent of the problem. One of the largest compound pharmacy operations in the U.S. facility run by Central Admixture Pharmacy Services.
SAN FRANCISCO — More than a dozen of the country’s large not-for-profit hospital systems descended on this year’s J.P. “Growth is really important to us,” said Rob McMurray, CFO of ChristianaCare, a hospital system headquartered in Delaware that has $2.6
The country’s biggest hospital chain, HCA Healthcare , told the Centers for Medicare and Medicaid Services it doled out almost $1 billion more in financial assistance to needy patients than it reported on its financial statement in 2022, helping the enormously profitable company extract billions of dollars from taxpayer-funded programs.
UnitedHealth Group, Humana, and CVS Health targeted denials among older adults who were requesting care in nursing homes, inpatient rehab hospitals, and long-term hospitals.
Hospitals and clinics are expecting a slightly better 2024 compared to last year thanks to a return to mostly in-person care, patients resuming preventive visits and the gradual easing of labor costs and shortages. Continue to STAT+ to read the full story…
Credit analysts have warned this would happen since mid-2022, but some not-for-profit hospitals are just now calculating breaches along with their 2022 financial losses.
This year, STAT deepened its footholds in a number of coverage areas, from hospitals and insurance to reproductive health to health tech. Our staff also looked with admiration — and some envy — to many other journalists doing great reporting in these spaces.
In 2022, the Mayo Clinic signed a five-year partnership with the dairy checkoff, a program overseen by the U.S. But a partnership between the dairy industry and the Mayo Clinic, one of the top-ranked health systems in the U.S., is drawing criticism for its potential to undermine the Minnesota powerhouse’s credibility.
In 2022, a U.S. The long-running federal lawsuit was settled on the eve of trial on Sunday. It would have been the second time the case, Sidibe v. Sutter Health, was tried before a jury. appeals court determined that a judge’s error caused the jury to miss out on crucial details and overturned Sutter’s win.
In December 2022, on the day Fanale retired as president and CEO of Care New England , he shared his diagnosis with a Globe reporter but requested it be kept private. “Many times, I wanted to say ‘Listen buddy, you don’t know what I’ve got in me,’” Fanale recalled recently with a chuckle.
When Sutter Health was on trial for anticompetitive conduct in 2022, the San Francisco jury missed out on some crucial details. They didn’t hear, for example, how its former finance chief said the system would make an extra $200 million per year by making insurers contract with all of its hospitals instead of just a few.
The failure of Geisinger Health System, which lost $842 million in 2022 and disappeared into a new Kaiser subsidiary called Risant, sent shockwaves through the health care community in the spring of 2023. Founded in 1919, Geisinger was in the vanguard of the so-called “value-based care” movement.
health care system is facing a new and costly threat that will affect patient care and ultimately may lead to hospital closures : paying for and processing a torrent of medical record requests. The already beleaguered U.S.
Food and Drug Administration’s oversight of clinical research in hospitals and clinics has fallen considerably in recent years, due to disruptions caused by the Covid pandemic and challenges finding and keeping investigators, according to a new report by the U.S. Government Accountability Office.
In the early days of the Covid pandemic, gravely ill patients began to fill America’s hospitals. In a 2021 APC survey, more than 80 pharmacies nationwide reported they had provided compounded versions of those essential drugs to hospitals under the temporary guidance.
The number of people in the United States hospitalized with Covid-19 is about to surpass the figure reached during this summer’s spike, federal data show , as a confluence of factors — from the continued evolution of the coronavirus to holiday gatherings — drives transmission. Read the rest…
billion combined last year, compared with $4 billion in 2022. million in 2022. But the biggest names in health care still made $3.5 The average chief executive brought home $11 million, while the median was $4.1 Those figures compared to an average of $13 million and median of $4.3
21 , hospitals, pharmacies, and other health care providers have had varying degrees of difficulty getting paid for their services, with some racking up significant claims backlogs. Its claims network and software will take longer. Since the company announced the attack on Feb. Continue to STAT+ to read the full story…
In 2022, however, gears shifted. From late summer onward in the United States, hospitals have been packed with people sick with one respiratory illness or another. For the first two years of the Covid-19 pandemic, people working in the infectious diseases and global health spheres were largely focused on the new disease.
A House committee on Wednesday advanced legislation that would extend Medicare telehealth flexibilities and a home hospital program adopted during the pandemic, the final step before the bills face a vote by the full House of Representatives.
billion in revenue in 2024; whereas in 2022 (the latest years for which figures are available), some $2.58 Additionally, its estimated that in 2024 the average 340B hospital lost nearly $3 million to unlawful drug manufacturer pricing restrictions. Full pricing and patient-care control for 340B hospitals. And provider incomes.
“This integration […] is really something that’s never happened before,” said Lisa Simon, a dental-licensed physician at Brigham and Women’s Hospital and one of STAT’s 2022 Wunderkinds. Read the rest…
Researchers compared survey data from 2018 and 2022, finding that health workers experienced poorer mental health outcomes post-pandemic. Of those surveyed, 46% of health workers reported feeling burnout often or very often in 2022, compared to 32% in 2018. Read the rest…
billion in 2022, an 18% increase from the previous year, according to the U.S. Prescription medicines purchased in the U.S. under a controversial government discount program amounted to $53.7 Health Resources & Service Administration, which oversees the program.
A double whammy for fraudsters In 2022, a 58-year-old Idaho woman was jailed and ordered to repay over $200,000 for defrauding Idaho’s Medicaid program. More government layoffs, a national security leak, and everyone’s mad about The Bachelor’s pick. Let’s catch you up.
Highmark Health, a large regional health insurer that also owns a chain of hospitals, is now covering a handful of digital treatments for chronic pain and other conditions for millions of its patients. The move, which could provide a boost to digital therapeutics makers, may feel like déjà vu for close industry observers.
Cothran explained that under the deal, Oklahoma made an upfront payment for the products, called reSET and reSET-O, and would “measure hospital and ER visits on the back end” with the understanding that Pear would reimburse the state if the products didn’t save money. “We’re just very, very cautious.
The playing field changed in 2022 when Cerner merged with cloud titan Oracle , coinciding with a loss in its large health system customers in the U.S., Cerner may have ceded U.S. Epic and Cerner have long been in a head-to-head race for medical software contracts. according to health care technology research firm KLAS.
For 2022, discounted purchases under the 340B program reached a record $53.7 Hospitals accounted for 87% of 340B purchases for 2022. Another surprise: HRSA estimated that manufacturers' contract pharmacy restrictions reduced 340B purchases by only $470 million—or less than 1% of 2022's total purchases.
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