HCA and Tenet reported net incomes for the second quarter, while CHS posted a net loss. All three health systems found themselves in a better financial position in Q2 2023 than they were in Q2 of last year, driven in large part by declining contract labor expenses.
Federal officials are sounding the alarm on two ransomware groups that are actively targeting the healthcare sector: Cl0p and LockBit. In recent months, the groups have been exploiting three known software vulnerabilities in cyberattacks they have waged against healthcare businesses across the country.
Financial analysts have said that 2022 may have been the worst year for hospital finances in decades. This year looks like it will be yet another year of financial underperformance, with rural providers in especially dire circumstances.
At JPM earlier this month, National Nurses United protested CHS and its CEO, Wayne Smith, who was speaking at the conference. But the union's protests in San Francisco are part of a larger effort to force CHS to change.
In the complaint, the tech giant says CHS allowed its divested entities to continue using Microsoft's software.
Check out who made the list from healthcare and life sciences.
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
So here’s a New-Year’s-Day downer: fewer hospitals will announce the first baby of the year in 2015. The stated reason: fear over kidnapping and identity theft. But read the article and see if you can’t find evidence of the irrational HIPAA-generated fear culture that lurks in modern healthcare. The article dutifully states that safety concerns […]
On the heals of a year fraught with high-profile data breaches, the risk is now greater than ever, and within healthcare, the threat is “persistent and growing” and could reach $5.6 billion next year, according to a report from Experian. It’s not hard to figure out why – an explosion of data and the realization that personal […]
At this point, data breaches at health systems are not a new issue, but news of Community Health System’s breach was striking not just for its sheer size, but because it demonstrates a sophisticated understanding of the value of patient data in the global marketplace. That’s according to John Gomez, CEO of sensato, a HIT software company based in […]
Detroit Venture Partners wants its portfolio companies to move their operations to the heart of Detroit in the hopes of transforming the Motor City into a vibrant startup community like Boston and San Francisco, according to Xconomy Detroit.
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
The U.S. House gave final approval on Thursday to a bill that would avert a 25 percent cut in Medicare payments to doctors by freezing reimbursement rates at current levels until the end of next year, reports the New York Times. President Obama, who hailed the nearly unanimous action by Congress, promised to sign the legislation.
International consulting firm PricewaterhouseCoopers says biotechnology companies must collaborate to produce more efficient and cost-effective medicines or face extinction in a new report called Biotech Reinvented.
The $120 million sale of three-hospital system Forum Health to Franklin, Tennessee-based Community Health Systems Inc. (NYSE:CYH) is expected to close sometime today.
Forum Health's $120 million sale to a for-profit Tennessee company appears to be nearly wrapped up now that Ohio's attorney general has given his blessing to the deal.
The average American hospital barely breaks even, according to Forbes' first survey of America's most profitable hospitals. But the most profitable hospital in the country -- 235-bed Flowers Medical Center in Dothan, Alabama -- recorded a 53 percent operating margin and belongs to the for-profit Community Health Systems (NYSE: CYH) chain in Brentwood, Tennessee.
