article thumbnail

STAT+: Ascension is racing to unload hospitals as execs work to stem losses

STAT

Louis-based health system through a period of explosive growth, adding hospital after hospital until it became one of the country’s biggest health systems. Ascension has lost almost $4 billion on operations from fiscal 2020 through fiscal 2023, triggering deals to offload almost 30 hospitals.

Hospitals 145
article thumbnail

STAT+: Hospitals say violence against health workers is surging. Tech companies are stepping in to help

STAT

One day in early 2020, just weeks before Philadelphia entered lockdown, Thomas Jefferson University’s public safety lead Joseph Byham abandoned a brisk walk to respond to an urgent incident. Once security arrived, the patient was returned to their hospital bed, and staff resumed rounds uninjured.

Hospitals 138
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

10 indicted in $1.4B rural hospital fraudulent billing scheme: DOJ

Fierce Healthcare

rural hospital fraudulent billing scheme: DOJ. Tue, 06/30/2020 - 10:14. 10 indicted in $1.4B

Hospitals 121
article thumbnail

Costs of treating COVID-19 hospitalizations quintupled medical inflation across the pandemic

Fierce Healthcare

million inpatient stays.

Hospitals 114
article thumbnail

Financial distress fueled more hospital M&A deals in 2023, report finds

Fierce Healthcare

Hospitals’ immediate financial needs drove more than a quarter of the sector’s merger and acquisition activity through 2023, which also brought a higher overall number of unveiled transactions than | The portion of hospitals and health systems whose transactions followed dire financial situations was nearly double that of 2020, 2021 and 2022, Kaufman (..)

Hospitals 109
article thumbnail

STAT+: Belgian anti-trust authorities probe Roche for allegedly delaying biosimilars of two cancer meds

STAT

In a brief statement , the Belgian Competition Authority alleged that Roche offered financial incentives to hospitals between 2017 and 2020 to deter them from considering competitive bids from other pharmaceutical companies that could supply similar medicines.

article thumbnail

STAT+: Hospitals are dialing back on venture capital investing

STAT

Hospitals once dove headfirst into venture capital with splashy headlines and attention-grabbing numbers. PitchBook data show no investments after 2020. Advocate Health Enterprises, meanwhile, the venture firm of a 67-hospital system based in Charlotte, N.C.,