Health care systems are facing financial challenges due to the shortage of health care workers, drug prices and other issues following the COVID-19 pandemic. “2022 was the most challenging year in recent memory,” said Jeffrey Bechtel, senior vice president, Health, Economics and Policy for the Hospital Association of Pennsylvania.
Washington state officials face a $100 million fine for failing to provide adequate mental health services to individuals with severe mental illnesses in the state's jails.
New Jersey lawmakers agreed to boost funding by about $35 million for University Hospital in Newark as part of the last-minute budget negotiations that added more than a billion dollars to the proposed state spending plan for the fiscal year that began Saturday.
Kootenai Health is on track to complete its conversion to a nonprofit by the end of the year, officials said Wednesday.
Trustees voted in May to assume the operations of Kootenai Health, Inc., a nonprofit organization. Since, hospital district staff and outside advisers have worked to implement transition plans, including employee benefits conversions and financial asset migration.
"Despite significant volatility, gains during this fiscal year help offset the $90 million loss last year and provide optimism for future growth," CFO Lawrence Furnstahl told the board.
Eli Lilly & Co. became the world’s biggest health-care company by market value, surging ahead of health insurance giant UnitedHealth Group Inc. The drugmaker gained 0.9% on Wednesday, extending its advance after four straight months of gains while adding more than $94 billion to its value this year.