For a beleaguered community hospital, it was a glimmer of hope after a dismal beginning to 2019. On Friday, Ellwood City Medical Center met its $230,000 biweekly payroll for a second consecutive pay period, disbursing full paychecks to its 150 employees on time after weeks of handing out minimum wage checks with a promise the balance would be made up later.
We just got our first look at the financial results for $1.8 billion health insurer Devoted Health. Devoted began offering plans in Florida in 2019. For the first three months of the year, it posted a net loss of $1.5 million, according to insurance filings reviewed by Business Insider.
Twenty-nine general acute care hospitals in the five-county Philadelphia region posted a profit in fiscal 2018 while 15 finished the year in the red, according to the latest financial performance report released Tuesday by the Pennsylvania Health Care Cost Containment Council. In the city, 13 hospitals posted a positive net income and six lost money. The ratio was similar in the four surrounding suburban counties where 16 hospitals reported a profit and nine recorded a deficit.
The only hospital east of the Anacostia River may soon experience mass layoffs after the D.C. Council gave preliminary approval to a large budget cut for the hospital on Tuesday. United Medical Center in Southeast D.C. has faced problems for years, but District leaders have fought to keep it open until a new one can be built to replace it in 2023.
The window appears to be opening for digital health companies looking to go public. Companies like Livongo, SmileDirectClub, Health Catalyst, and Ancestry reportedly could hold initial public offerings in 2019. If they do, it'll be the first time a digital health company has gone public since 2016. We spoke to VCs about what they're tracking with this latest batch.
Big Pharma eats up a lion’s share of health-care industry profits, according to new first-quarter financial reports — and its dominance has implications for Americans struggling to pay for prescription drugs.