Tag Archives: Health System
Trinity Health hospital to pay $107M to settle pension mismanagement lawsuit
The $107 million settlement is more than 13 times larger than the $8 million settlement reached by St. Louis-based Ascension Health and its workers in a similar suit in 2015. In their suit against Ascension, workers claimed the system’s pension plans were underfunded by more than $444.5 million. The St. Francis and Ascension Health cases are the only two public settlements that have been reached in the 30 class-action suits filed in the past three years accusing religiously affiliated hospitals of mismanaging their pensions, according to the report.
9 health systems with strong finances
Why Today’s Poll Numbers on Health Proposals Are Bound to Change
Gallup polling released last week showed majority support–58%–for replacing the Affordable Care Act with a federally funded health system. The same poll found 51% support for repealing the ACA. There is a basic point that often gets lost in reaction to poll findings like these: They measure the public’s initial response to ideas and words, and proposals such as single payer or ACA repeal that people associate with candidates–but they don’t tell us much about the likely level of support for a policy if there is a real debate about legislation before Congress, with winners and losers laid bare.
It’s always a fair bet that support would decline for big changes that come with big trade-offs–whether it is single-payer health care or ACA repeal or something else–but there is no way to know those levels in advance, and support could rise or fall depending on how a legislative debate plays out. Consider single-payer health care as an example. In February, the Kaiser Family Foundation monthly tracking poll simulated some of the arguments the public might hear in a debate about single payer.
Health insurers not responsible for rising premiums, exec says
51 senators weigh in on site-neutral payment regulations
A bipartisan group of 51 senators sent a letter to CMS, calling for flexibility in the implementation of Medicare payment reductions for services provided in new off-campus hospital outpatient departments. The payment reduction is part of the Bipartisan Budget Act of 2015. Under the provision, off-campus outpatient facilities that started billing Medicare under the Outpatient Prospective Payment System on or after Nov. 2, 2015, will not be eligible for reimbursements under the OPPS.
Bone cement company accused of experimenting on humans
In this Aug. 16, 2007, photo provided by Cynthia Wilson, Reba Golden stands outside Harborview Medical Center in Seattle. Golden died on the operating table there the next day during what should have been a routine spinal surgery. Like several other spinal surgery patients before her, Golden died after her surgeon injected bone cement into her spine and some of the material leaked into her blood stream, causing massive clotting. Also like the other patients, Golden was never told that the bone cement was not approved by the Food and Drug Administration.
Banner Health finances stable despite losses on newly acquired hospitals
Last-ditch effort to save California hospital fails
MemorialCare, the hospital’s parent system, explored other options before deciding to shut down the facility. In August 2014, MemorialCare announced plans to convert the 73-bed hospital into an outpatient medical campus. The system worked with state lawmakers on legislation that would have allowed a satellite emergency department at the outpatient campus in San Clemente. However, the legislation failed in January. The following week, the San Clemente City Council voted to rezone the San Clemente campus property to require hospital services.
Hedge fund’s healthcare retreat signals industry uncertainty
NYC hedge fund Glenview Capital Management, headed by Larry Robbins, has pulled back sharply on its healthcare investments despite its usual emphasis on the industry, Modern Healthcare reported. The hedge fund overall reduced its shares in 11 of 16 healthcare companies during the first quarter, including Aetna, Anthem, Cigna and Humana, which await uncertain state and federal regulatory approval for mergers.
HENRY KOTULA 