An Eastern Carolina hospital has filed for Chapter 11 bankruptcy. The filing for Washington Regional Medical Center shows a list of $4.1 million debts owed to creditors. CEO Frank Avignone says the filing is simply restructuring of the hospital's finances and the hospital will continue daily operations uninterrupted.
All but two nonprofit health systems in Southeastern Pennsylvania improved their financial results in the fiscal year that ended June 30. Despite the improvement, six of 11 systems tracked by The Inquirer still lost money and two — Jefferson Health and Temple University Health System — effectively broke even. The sector is trying to work though a surge in wages and other expenses that happened near the end of the COVID-19 pandemic.
Two Senate leaders have produced bipartisan policy options for advancing site-neutral payment in Medicare. The framework by Sens. Bill Cassidy (R-La.), who is a physician, and Maggie Hassan (D-N.H.) goes further than site-neutral payment plans that were passed by the House in late 2023. The newly published framework sets the stage for a more expansive version of site-neutral payment to receive consideration in Congress.
The transition to new ownership for St. Joseph Medical Center in downtown Houston isn't going very smoothly for some hospital employees, who say they didn't receive their paychecks or the correct amount that they earned. In May, Steward Health Care, who previously owned St. Joseph, filed for Chapter 11 bankruptcy. In a news release, the company wrote that one of the primary factors included 'challenges created by insufficient reimbursement by government payers as a result of decreasing reimbursement rates.'
HCA Healthcare says hurricanes Helene and Milton will cause $250 million to $350 million in additional expenses and lost revenue at its facilities in Florida and other states. In a report filed with the SEC, the hospital industry giant says that during Q3, it incurred an estimated $50 million in additional expenses and lost revenue in Florida, Georgia and North Carolina because of Helene. It expects additional expenses during the fourth quarter of $200 million to $300 million because of continued effects of Helene in North Carolina and because of Milton.
A month after Atrium announced it was erasing thousands of judgments filed against patients for medical debt, four other N.C. hospitals with large numbers of medical debt lawsuits said they have taken the same step.