"While the decision to close may have felt abrupt, it came after an exhaustive search where a national consulting firm identified a number of potential partners."
In its statement on the closure, Wellstar said financial losses were driving its decision to close Atlanta Medical Center’s doors, citing a $107 million loss in a period of a year. The news of the closure of the downtown institution on Boulevard came as a surprise, shocking community members, politicians and staff members alike.
An attack in the healthcare sector is more likely to result in financial consequences. 32% of respondents from other industries report that an attack had no impact on their business, while only 14% of healthcare organizations say the same. Unplanned expenses to cover security gaps and compliance fines are the most common types of damage that the healthcare sector faces due to a cyberattack.
Modern healthcare has a problem: There are a lot of diseases needing better treatment, but the drug industry doesn’t always have a financial incentive to develop a new drug, or even to test an old one on a new ailment.
While the market is crowded with companies claiming their products meaningfully improve health — especially for underserved groups — there is still no industry-wide standard slate of metrics to fully evaluate them.
Humana reported nearly $1.2 billion in third quarter profits largely due to growth in its Medicare Advantage health plans and lower than expected medical expenses. The health insurer Wednesday said net income was $1.19 billion compared to $1.5 billion in the third quarter of 2021.
