Kaiser Permanente’s Third Quarter Finances Show $1.5B Loss
Meanwhile, a financially-troubled Mississippi hospital failed to reach a deal with a medical campus that was planning to take over the facility, AP reports. In other news, Microsoft has an AI tool that transcribes doctor-patient discussions, at the expense of sharing sensitive info with tech giants.
Becker's Hospital Review:
Kaiser Permanente Reports $1.5B Q3 Loss
Oakland, Calif.-based Kaiser Foundation Health Plan, Kaiser Foundation Hospitals and their subsidiaries reported a net loss of $1.5 billion for the quarter ending Sept. 30, according to a Nov. 4 financial report. The company posted total operating revenues of $24.3 billion and total operating expenses of $24.3 billion for the quarter. Total operating revenues of $23.2 billion and total operating expenses of $23.1 billion for the same period in 2021. (Tucker, 11/4)
AP:
Negotiations Collapse Between Mississippi Medical Facilities
A financially-troubled Mississippi hospital announced Friday that negotiations with a medical campus planning to take over the hospital had collapsed. Just hours after revealing its plan to lay off up to 80 employees, the Greenwood Leflore Hospital said that the University of Mississippi Medical Center was no longer interested in completing a deal to take over the hospital. The breakdown in talks increases the risk of the hospital’s closure and threatens to decrease health care access in the state’s impoverished delta region. (11/4)
Stat:
Microsoft AI Tool Creates Data-Sharing Divide In Hospitals
The artificial intelligence system is a dream for many doctors: It records their conversations with patients and automatically transcribes the notes into their computer systems. No need to bring a laptop to every patient visit, or spend hours afterward on documentation. But the product, sold by Nuance Communications and its parent, Microsoft, comes with strings attached: To improve its accuracy, health systems sworn to protect privacy must share patients’ most sensitive data with companies trying to develop their next blockbuster product. (Ross, 11/7)
