Even Beaumont employees suffering from myopia can read this writing on the wall: Beaumont CFO John Kerndl, and Denise Waters, vice president of revenue cycle, have sold their suburban Detroit homes.
While rural hospitals have been closing at a quickening pace over the past two decades, a number of inner-city hospitals now face a similar fate. And experts fear that the economic damage inflicted by the COVID-19 pandemic on safety net hospitals and the ailing finances of the cities and states that subsidize them are helping push some urban hospitals over the edge.
As the Covid-19 pandemic continues to surge in the United States, Americans are becoming more aware of the deficits in their health care delivery system. Invisible to many, however, is the rapidly expanding role that private equity is playing in health care — especially for women.
Seventy-seven Iowa hospitals collected $928.3 million in accelerated and advance Medicare payments that were available as a government stimulus to cover expenses in the COVID-19 pandemic’s early days last spring, an IowaWatch analysis of Center for Medicare & Medicaid Services data shows.
WASHINGTON — One of the world's largest drug companies has been aggressively raising prices even as it received hundreds of millions of dollars of U.S. government aid to develop a COVID-19 vaccine.
Like hospital chains across the U.S., LifePoint Health tapped federal relief money to blunt the cost of the Covid-19 pandemic. It was a potent lifeline, a total of $1.5 billion. But LifePoint is unusual in one respect, its owner: private equity firm Apollo Global Management, led by billionaire Leon Black.