Ex-director of finance accused of embezzling $3M from North Carolina hospital

https://www.beckershospitalreview.com/legal-regulatory-issues/ex-director-of-finance-accused-of-embezzling-3m-from-north-carolina-hospital.html

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High Point (N.C.) Regional Hospital’s former director of finance is accused of stealing more than $3 million from the hospital between Jan. 1, 2003, and Aug. 15, 2017, according to WXII 12 News.

According to a federal indictment, Kimberly Russell Hobson defrauded the hospital by issuing unauthorized and forged checks payable to herself and relatives. She’s also accused of using the hospital’s credit cards for personal expenses.

Ms. Hobson used money embezzled from the hospital to purchase luxury vehicles, a motorcycle and other items for personal use, according to court documents.

Ms. Hobson is charged with seven counts of wire fraud, two counts of bank fraud, five counts of aggravated identity theft, and one count of possessing and uttering counterfeit securities, according to the report.

A spokesperson for High Point Regional Hospital told WXII 12 News Ms. Hobson was removed from her position at the hospital last summer.

 

65 financial benchmarks for hospital executives

http://www.beckershospitalreview.com/finance/65-financial-benchmarks-for-hospital-executives-022117.html

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Hospitals leaders across the nation use benchmarking as a way to determine the areas of their business that need improvement. The continuous process of benchmarking allows hospital executives to see how their organizations stack up against local and regional competitors as well as national leaders.

Here are 65 benchmarks related to one of the most important day-to-day areas hospital executives oversee — finance.

Key ratios
Source: Moody’s Investors Service, “U.S. Not-for-Profit Hospital 2015 Medians” report, September 2016.

The medians are based on an analysis of audited 2015 financial statements for 340 freestanding hospitals, single-state health systems and multi-state health systems, representing 81 percent of all Moody’s-rated healthcare entities. Children’s hospitals, hospitals for which five years of data are not available and certain specialty hospitals were not eligible for inclusion in the medians.

 

Wall Street Journal combs through nonprofit hospitals’ board-business ties: 6 things to know

http://www.beckershospitalreview.com/finance/wall-street-journal-combs-through-nonprofit-hospitals-board-business-ties-6-things-to-know.html

As some of the largest nonprofits in the U.S., hospitals face a major challenge — their board members or executives often have direct ties to organizations with which the hospital does business, The Wall Street Journal reports.

Here are six things to know about nonprofit hospitals and their business associations, according toWSJ.