As predicted, 2022 was a challenging fiscal year for Vermont’s 14 community hospitals, which as a group registered almost $62 million operating loss. Hospitals have said that those losses, already creating instability, will only deepen unless regulators change their oversight methods.
Several executives and administrators have been laid off from MUSC Health University Medical Center’s Midlands division after a budget shortfall of $40 million in the first half of the fiscal year.
Two of CarePoint Health's three Hudson County hospitals have been approved by the state Department of Health to transition to a nonprofit entity, but the third remains "under consideration," state officials said.
Avera Queen of Peace Hospital in Mitchell announced its designation has changed to a Critical Access Hospital. The designation was made by the Centers for Medicare and Medicaid Services (CMS). The hospital was previously designated a Prospective Payment System hospital.
The rule aims to pull back the curtain on opaque hospital prices that may vary widely by hospital for the same service or even within the same hospital. The expectation is that price transparency will boost competition, giving consumers and employers a way to compare prices and make informed choices, ultimately driving down the cost of care. Whether that will happen is not yet clear.
The 'A+' reflects OSF's leading market position its core primary service area (PSA) around Peoria, with assets distributed among multiple markets throughout Illinois. Liquidity ratios remained sound at FYE 2022 despite cash flow pressures and equity market volatility. The Stable Outlook considers Fitch's expectation that while macro labor and inflationary pressures will continue to compress operating margins, long term OSF should sustain an operating EBITDA margins generally in the 7% range and its liquidity position should strengthen over time.