Massachusetts Hospitals Grapple With Serious Financial Woes
A Boston Globe report says many local hospitals, which had been hoping 2022 would mark a financial turnaround, are seeing their worst fiscal performance ever. Modern Healthcare says Mass General Brigham is looking at cost cuts after a financial loss of over $2 billion.
The Boston Globe:
‘It’s An Ugly Year In Health Care’: Hospitals Report Record Losses In 2022
Hospital executives in Massachusetts had hoped 2022 would mark the beginning of their recovery from the financial losses of the past two years. Instead, many experienced their worst financial performance since their modern hospital systems were formed. (Bartlett, 12/16)
Modern Healthcare:
Mass General Brigham Eyes Cost Cuts After Annual Loss Of $2B+
Mass General Brigham is the latest health system to have its financial performance take a hit from inflation and workforce issues. As a result, it is looking to cut expenses. (Hudson, 12/16)
In nursing home updates and other news —
NBC News:
New York Attorney General Letitia James Sues Owners Of Long Island Nursing Home
New York Attorney General Letitia James is suing the owners of a Long Island nursing home who also have stakes of dozens of other facilities nationwide. It is the third suit she has filed in six weeks alleging financial fraud and abuse of nursing home residents. (Strickler, 12/16)
The Boston Globe:
At A Tewksbury Nursing Home, Labor Shortage Reveals An Industry In Distress
Frank Romano spends $10,000 a month advertising nursing home jobs at Blaire House of Tewksbury. He offers registered nurses $4,000 signing bonuses and takes over their student loan payments when they come onboard. (Johnston, 12/17)
Stat:
Sports Medicine Is Racing To Improve How Injuries Are Treated
Whether they’re in a World Cup match or an Olympic race, injuries can be devastating for elite athletes — particularly when they prove difficult to treat quickly. (Williamson-Lee, 12/17)
