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STAT+: How powerful hospitals helped take R1 RCM private

STAT

The hospital power players behind R1 Private equity firms are leading the buyout of R1 RCM, a major provider of billing and administrative services for hospitals and physician groups. You’re reading the web version of Health Care Inc., STAT’s weekly newsletter following the flow of money in medicine. 

Hospitals 259
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STAT+: How hospitals could make money off of Kamala Harris’ medical debt relief plan

STAT

As part of the state’s new Medicaid expansion, North Carolina will instead pay hospitals full price for erasing $4 billion in medical debt. The program uses federal funds and imposes some requirements on hospitals to bolster their financial assistance for people with low incomes.

Hospitals 352
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STAT+: Hospital giant Ascension recorded about $1.3 billion in losses from its cyberattack

STAT

The cyberattack that forced Ascension to shut off access to its electronic health records cost the nonprofit hospital system roughly $1.3 billion, according to STAT’s analysis of financial documents the health system released Tuesday evening. Continue to STAT+ to read the full story…

Hospitals 251
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Opinion: Hospitals that make profits should pay taxes

STAT

hospitals pay nothing in federal taxes. The agency uses a vague “community benefit” standard to liberally grant tax-exempt status to so-called nonprofit hospitals even as many of them are financially taking advantage of sick Americans with inflated medical bills. Where’s the community benefit in that?

Hospitals 364
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STAT+: Ascension is racing to unload hospitals as execs work to stem losses

STAT

Louis-based health system through a period of explosive growth, adding hospital after hospital until it became one of the country’s biggest health systems. Ascension has lost almost $4 billion on operations from fiscal 2020 through fiscal 2023, triggering deals to offload almost 30 hospitals.

Hospitals 362
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STAT+: UnitedHealth and HCA clash over hospital chain’s rates in ‘battle of the giants’

STAT

Contract disputes between hospitals and health plans have become routine, but they tend to be local , affecting a handful of hospitals and the people in the surrounding communities. It involves the country’s biggest private health insurer, UnitedHealthcare, and its biggest hospital chain, HCA Healthcare.

Hospitals 363
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STAT+: U.S. agency threatens J&J with sanctions if it switches payments to 340B hospitals

STAT

government agency has threatened Johnson & Johnson with sanctions if the company proceeds with plans to alter payment methods for some hospitals that participate in a federal drug discount program. In a letter sent on Tuesday, the U.S. Continue to STAT+ to read the full story…

Hospitals 264