Hospital closures and systems returning relief aid were among the healthcare finance topics that piqued the interest of readers in July.
Here are five of the most popular finance stories published by Becker’s Hospital Review in July.
1. 8 health systems with strong finances
Here are eight health systems with strong operational metrics and solid financial positions, according to reports from Fitch Ratings, Moody’s Investors Service and S&P Global Ratings. The list is current as of July 13.
2. Jackson Health ‘on a disastrous course’ after missing out on COVID-19 relief aid, CEO says
Jackson Health System, a safety-net system based in Miami, has recorded losses of $78 million this year and has been shut out of federal funding meant to help hospitals hardest hit by the pandemic.
3. Georgia hospital to close in October
Southwest Georgia Regional Medical Center, a 25-bed critical access hospital in Cuthbert, Ga., will close in October due to financial strain worsened by the coronavirus pandemic.
4. Chicago’s Mercy Hospital to close in 2021
After nearly 170 years of operation, Mercy Hospital & Medical Center in Chicago will close in 2021, pending approval from the state review board. The hospital noted that it can no longer sustain monthly operating losses of $4 million.
5. 9 hospitals return $166.5M in CARES Act payments
Congress allocated $175 billion in relief aid to hospitals and other healthcare providers to cover expenses and lost revenues tied to the COVID-19 pandemic, a portion of which was dedicated to hospitals hardest hit by the pandemic. Below are nine hospitals that gave back their stimulus payments in May and June.
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