More than 600 rural U.S. hospitals — which is more than 30% of the country’s rural hospitals — are at risk of closing due to their financial instability, according to a new report. The report argued that the dire financial situation among the nation’s rural hospitals stems from two main issues: low financial reserves and inadequate payments from private health plans.
California lawmakers recently passed a bill that would provide interest-free cash loans to nonprofit and public hospitals undergoing significant financial distress. The loan program would provide up to $150 million in funds over the next couple years.
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.
A California lawmaker recently introduced legislation designed to keep the state’s small and rural hospitals from closing as they work to meet seismic safety compliance requirements. The bill would require California’s Department of Health Care Access and Administration to provide grant funding to small and rural hospitals so they can achieve compliance amid times of severe financial distress.
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.
Rural health systems should be the champions of virtual care delivery, according to Jim Weinstein, Microsoft’s senior vice president of health equity and innovation. He and Sheri Dodd, vice president and general manager of Medtronic Care Management Services, laid out recommendations for rural providers to establish scalable and sustainable virtual care programs during a conference held last week by Sanford Health.
The mortality rates at rural hospitals for certain conditions, including heart attacks and stroke, decreased in the years following a merger or an acquisition compared with facilities that remained independent, a new study shows. This is a departure from research done on the effects of M&A on urban hospitals.
At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.
Rural hospitals face a battle on two fronts with the Covid-19 pandemic. Many have invested funds to staff up or bring in additional beds to prepare for the pandemic. On top of that, cancelled procedures have delivered a blow to their bottom line.