Losses continue at West Penn Allegheny Health System, which said Thursday it lost $34.1 million in the last three months of 2011, according to its most recent financial statement. That compared to a net loss of $1.4 million in the same quarter the year before. The troubled five-hospital health system's loss was driven by a 7.3 percent drop in revenue, to $387.3 million for the October-December quarter, compared to $417.8 million in the same quarter the year before.
Cancer Treatment Centers of America is eyeing a spot in New Hampshire. The for profit chain wants to build a hospital in the Northeast. CTCA successfully lobbied Georgia to change its regulations so a specialty hospital could be built in that state. The company is hoping lawmakers in New Hampshire will make similar changes.
Kaleida Health is offering $1 million to whoever can do some major medicine on the soon-to-be-vacant Millard Fillmore Hospital. The hospital system announced Thursday that it will award the prize to the developer or design team that submits a winning proposal for redevelopment of the hospital at Gates Circle, one of the most desirable neighborhoods in the city. The developer would not receive the prize until it has completed purchase of the property. By dangling the money, Kaleida hopes to generate interest in the project. But this won't exactly be like winning the lottery.
The union that represents 1,200 El Camino Hospital workers formally kicked off an effort Wednesday to qualify a measure for the November ballot that would slash the pay of the health care provider's top brass. The proposed measure stands to affect as many as nine executives who each make more than $200,000 a year, not counting bonuses. One of the top earners is recently appointed CEO Tomi Ryba, who is to be paid at least $695,000.
Like it or not, healthcare reform is coming to Texas, and it's dragging health insurance into the modern age. In this state, lawmakers and businesses embrace the mantra of free markets and low regulation. Regulators don't have the authority to reject increases in health insurance premiums. They didn't even bother with a rate review unless an increase topped 50 percent a year—a threshold that speaks volumes about the role of limited government here.
An executive of Riverside General Hospital was arrested and charged Wednesday in a $116 million Medicare scheme involving kickbacks to patient recruiters and the owners of homes for the elderly and disabled in exchange for steering residents to Riverside's mental health clinics.