The healthcare sector in Massachusetts has a double-sided problem: the cost of care is pushing it out of reach for many residents and draining the wallets of others, but profitability is down at hospitals across the state.
Providers that use Change systems have seen portions — and in some cases nearly all — of their revenue vanish since systems for filing claims or having them paid went offline Feb. 21.
The CFPB has penalized medical debt collectors, issued stern warnings to healthcare providers and lenders that target patients, and published reams of reports on how the health care system is undermining the financial security of Americans.
Independence Health System marked its first year as a hospital network with a combined loss of $71.4 million from operations, a 14% reduction from the $82.9 million operational loss when the two hospital networks combined into a single entity in 2022.