Palomar Health’s financial reports over the past year show a significant downturn. And as the end of a partnership with Kaiser Permanente nears, it’s unclear how much more money the hospital district could lose.
Fitch Ratings has downgraded Butler Health System's (BHS) Issuer Default Rating (IDR) and the rating on revenue bonds issued by the Butler County Hospital Authority on behalf of BHS, to 'BBB' from 'A'; Rating Watch Negative.
The multi-notch downgrade and rating watch negative reflect deficit operating and excess losses and negative EBITDA through the nine-months ended March 31, that will be sustained through the FYE, likely leading to an event of default under Butler's 12-month debt service coverage covenant under the MTI and for its debt obligations privately placed with Truist Bank.
Campbell County Health has less than a month before hospital board trustees approve its next budget and after consecutive years of substantial losses, the organization is bracing for more realistic expectations.
Through 11 months, the organization has a net loss of about $12 million after factoring non-operating gains, such as the mill levy, into its $28.5 million operating loss.
Another Western New York hospital is scaling back its total bed count. Wyoming County Community Hospital in Warsaw filed plans with the State Department of Health to take nearly half of its 62 beds off its operating certificate, in order to meet federal requirements as a Medicare critical access hospital.
MU Health Care’s finances are on track to hit operating margin targets and are outpacing many university health system peers, according to a presentation given to the Board of Curators’ Health Affairs Committee on Thursday.
Health First Inc. says it is eliminating 17 staff positions in one of its departments and not filling 36 open positions within the company in response to financial losses during the past two years.
In an email to the health care company's staff, Paula Just, Health First's chief experience officer, wrote that "after very careful consideration," in addition to eliminating some open and vacant positions, "we made the difficult decision to eliminate 17 positions within corporate support services."