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Southwest Pulmonary and Critical Care Fellowships

News

Last 50 News Postings

(Most recent listed first. Click on title to be directed to the manuscript.)

CMS Proposes Increased Reimbursement for Hospitals but a Decrease for
   Physicians in 2025
California Bill Would Tighten Oversight on Private Equity Hospital Purchases
Private Equity-Backed Steward Healthcare Files for Bankruptcy
Former US Surgeon General Criticizing $5,000 Emergency Room Bill
Nurses Launch Billboard Campaign Against Renewal of Desert Regional
   Medical Center Lease
$1 Billion Donation Eliminates Tuition at Albert Einstein Medical School
Kern County Hospital Authority Accused of Overpaying for Executive
   Services
SWJPCCS Associate Editor has Essay on Reining in Air Pollution Published
   in NY Times
Amazon Launches New Messaged-Based Virtual Healthcare Service
Hospitals Say They Lose Money on Medicare Patients but Make Millions
   Trust in Science Now Deeply Polarized
SWJPCC Associate Editor Featured in Albuquerque Journal
   Poisoning by Hand Sanitizers
Healthcare Layoffs During the COVID-19 Pandemic
Practice Fusion Admits to Opioid Kickback Scheme
Arizona Medical Schools Offer Free Tuition for Primary Care Commitment
Determining if Drug Price Increases are Justified
Court Overturns CMS' Site-Neutral Payment Policy
Pulmonary Disease Linked to Vaping
CEO Compensation-One Reason Healthcare Costs So Much
Doctor or Money Shortage in California?
FDA Commissioner Gottlieb Resigns
Physicians Generate an Average $2.4 Million a Year Per Hospital
Drug Prices Continue to Rise
New Center for Physician Rights
CMS Decreases Clinic Visit Payments to Hospital-Employed Physicians
   and Expands Decreases in Drug Payments 340B Cuts
Big Pharma Gives Millions to Congress
Gilbert Hospital and Florence Hospital at Anthem Closed
CMS’ Star Ratings Miscalculated
VA Announces Aggressive New Approach to Produce Rapid Improvements
   in VA Medical Centers
Healthcare Payments Under the Budget Deal: Mostly Good News
   for Physicians
Hospitals Plan to Start Their Own Generic Drug Company
Flu Season and Trehalose
MedPAC Votes to Scrap MIPS
CMS Announces New Payment Model
Varenicline (Chantix®) Associated with Increased Cardiovascular Events
Tax Cuts Could Threaten Physicians
Trump Nominates Former Pharmaceutical Executive as HHS Secretary
Arizona Averages Over 25 Opioid Overdoses Per Day
Maryvale Hospital to Close
California Enacts Drug Pricing Transparency Bill
Senate Health Bill Lacks 50 Votes Needed to Proceed
Medi-Cal Blamed for Poor Care in Lawsuit
Senate Republican Leadership Releases Revised ACA Repeal and Replace Bill
Mortality Rate Will Likely Increase Under Senate Healthcare Bill
University of Arizona-Phoenix Receives Full Accreditation
Limited Choice of Obamacare Insurers in Some Parts of the Southwest
Gottlieb, the FDA and Dumbing Down Medicine
Salary Surveys Report Declines in Pulmonologist, Allergist and Nurse
   Incomes
CDC Releases Ventilator-Associated Events Criteria

 

 

For complete news listings click here.

The Southwest Journal of Pulmonary, Critical Care & Sleep periodically publishes news articles relevant to  pulmonary, critical care or sleep medicine which are not covered by major medical journals.

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Entries in bankruptcy (3)

Monday
Jun102024

California Bill Would Tighten Oversight on Private Equity Hospital Purchases

According to Medscape California lawmakers are considering a bill that would tighten oversight of private equity and hedge fund buyers of hospitals and healthcare facilities (1). Private equity investment in hospitals and physician groups has been under scrutiny in recent months after a slew of high-profile failures, including bankruptcies and hospital closures. California lawmakers have drafted a bill that would require private equity firms and hedge funds to give the state attorney general written notice before purchasing a healthcare facility or provider group. The attorney general would have to approve the transaction. Buyers would also be required to submit written notice to any federal or state agency as required by law within 90 days of the transaction, and the attorney general could extend that period. The bill gives the attorney general the power to halt an acquisition if there is a "substantial likelihood of anticompetitive effects" or if it would affect access of healthcare services delivered to the community.

Physician groups would also be affected by the bill; private equity groups or hedge funds would be prohibited from controlling the practice and the practice physicians would not be able to sign a deal with an entity partially or wholly directed by a private equity group or hedge fund if those firms provide other services to the physicians for a fee.

Richard A. Robbins MD

Editor, SWJPCCS

Reference

  1. Dyrda L. California Bill Would Tighten Oversight on Private Equity Hospital Purchases. Medscape. June 10, 2024. Available at: https://www.beckershospitalreview.com/finance/california-bill-would-tighten-oversight-on-private-equity-hospital-purchases.html#:~:text=California%20lawmakers%20have%20drafted%20a,have%20to%20approve%20the%20transaction (accessed 6/10/24).
Cite as: Robbins RA. California Bill Would Tighten Oversight on Private Equity Hospital Purchases. Southwest J Pulm Crit Care Sleep. 2024;28(6):90. doi: https://doi.org/10.13175/swjpccs026-24 PDF
Saturday
May112024

Private Equity-Backed Steward Healthcare Files for Bankruptcy

Arizona Attorney General Kris Mayes (1) has launched an investigation into what led to Dallas-based Steward Health Care filing for Chapter 11 bankruptcy protection on May 6. The health system also recently shared that it is $9 billion in debt and has plans to sell all 31 of its hospitals, four of which are in Arizona and have a proposed auction date of June 28, according to a May 10 news release from Ms. Mayes (1). 

Steward relied on backing from private equity investors to quickly acquire dozens of community hospitals, including facilities in Massachusetts, Texas, Florida, and Arizona. Steward has been the focus of a year-and-a-half-long CBS News investigation revealing how private equity investors have siphoned hundreds of millions of dollars from community hospitals with devastating public health consequences (2). Records reviewed by CBS News showed Steward hospitals around the country left a trail of unpaid bills, at times risking a shortage of potentially lifesaving supplies.

Steward's Arizona hospitals include: Florence (Ariz.) Hospital, Mountain Vista Medical Center in Mesa, Ariz., St. Luke's Behavioral Health Center in Phoenix, and Tempe (Ariz.) St. Luke's Hospital. Along with the hospitals, Steward also operates multiple medical practices across the state. 

“Arizonans deserve to know more about the circumstances that led to Steward's bankruptcy filing," Ms. Mayes said in the release (1). "I am deeply concerned about the potential impact this could have on Arizona patients and medical providers. No matter who ultimately ends up owning and operating these facilities, I am committed to ensuring that no Arizonan is harmed by this bankruptcy, and I will fight to ensure that these hospitals remain open at all times to care for patients without any degradation of service."

Richard A. Robbins MD

Editor, SWJPCCS

References

  1. Arizona Attorney General. Attorney General Mayes Announces Investigation into Steward Health Care’s Bankruptcy. May 10, 2024. Available at: https://www.azag.gov/press-release/attorney-general-mayes-announces-investigation-steward-health-cares-bankruptcy (accessed May 11, 2024).
  2. Schooley M, Hager C, Kaplan M. Steward Health Care files for Chapter 11 bankruptcy. CBS Boston. May 7, 2024. Available at: https://www.cbsnews.com/boston/news/steward-health-care-bankruptcy/ (accessed May 11, 2024).
Cite as: Robbins RA. Private Equity-Backed Steward Healthcare Files for Bankruptcy. Southwest J Pulm Crit Care Sleep. 2024;28(5):71. doi: https://doi.org/10.13175/swjpccs021-24 PDF
Saturday
Jun162018

Gilbert Hospital and Florence Hospital at Anthem Closed

Gilbert Hospital and Florence Hospital at Anthem, two medical centers owned by parent company New Vision Health LLC, will close according to the Arizona Republic (1). Gilbert Hospital's emergency room will stay open until 1 p.m. Saturday and the Florence ER will close 8 a.m. Monday. Anyone receiving care was to be transferred or discharged, according to company spokesman Alex Stevenson.

The two hospitals and the parent company have been plagued with financial troubles. Creditors filed for involuntary Chapter 11 bankruptcy protection this spring, the second time they had faced bankruptcy in four years. A Maricopa County Superior Court judge on June 7 appointed a receiver, who concluded that the financial problems "were simply too significant to overcome." Bankruptcy court documents show the two medical centers owe creditors at least $13.1 million in unpaid loans. Both hospitals were operating under terminated leases because they could not pay rent, according to court records.

Gilbert Hospital was recently penalized by Medicare because of high rates of patient injuries, according to Kaiser Health News (2). Gilbert Hospital lost 1 percent of its Medicare funding this fiscal year. New Vision Health is also the owner of Peoria Regional Medical Center which filed for Chapter 11 bankruptcy protection in federal court in October 2017.

Richard A. Robbins, MD

Editor, SWJPCC

References

  1. Altavena L. Bankruptcy forces abrupt closure of Gilbert Hospital, Florence Hospital at Anthem. Arizona Republic. June 15, 2018. Available at: https://www.azcentral.com/story/news/local/gilbert/2018/06/15/bankruptcy-gilbert-hospital-florence-hospital-anthem-close/705452002/ (accessed 5/16/18)
  2. Rau J. Medicare penalizes group of 751 hospitals for patient injuries. Kaiser Health News. December 12, 2017. Available at: https://khn.org/news/medicare-penalizes-group-of-751-hospitals-for-patient-injuries/ (accessed 6/16/18)

Cite as: Robbins RA. Gilbert Hospital and Florence Hospital at Anthem closed. Southwest J Pulm Crit Care. 2018;16(6):340. doi: https://doi.org/10.13175/swjpcc080-18 PDF 

Editor's Note: Gilbert Hospital was located at 5656 S. Power in Gilbert and should not be confused with Mercy Gilbert Medical Center which is located 3555 S. Val Vista Drive also in Gilbert.