Industry Trends

Springfield, Ill.-based Hospital Sisters Health System warned patients of potentially fraudulent attempts to collect on fake hospital bills after a cybersecurity incident in late August

Among the top in-state creditors are the Illinois Department of Healthcare and Family Services, which is owed $2.5 million, and Blue Cross Blue Shield of Illinois, which is owed $1 million.

The report shows a 11.2% overall increase in procedures performed by plastic surgeons in 2022.

According to LevinPro HC, there have been 1,299 healthcare M&A deals this year through July 31. This represents a 12% drop compared to the year-ago period.

During the acute phase of the pandemic, in-person visits for mental health services dropped by 39.5%, while telehealth visits surged remarkably by 1019.3% compared to the previous year. 

While healthcare AI has enormous potential, there is also a significant amount of noise to sort through, a Mount Sinai Health leader said.

With few options to mitigate costs and avoid cutting services, layoffs or worse, hospitals and health systems are accelerating value-based care strategies and taking a more nuanced approach to the site of service for care.

The financial ramifications mainly fell in the $100,000–$1 million range, with 26% paying ransoms.

PE deals are expected to rise though in the second half of the year and into 2024 as the debt market recovers and inflationary pressures settle.

Richard Park, director of the nonprofit healthcare department for Fitch, said that hospitals tend to see a dip in revenues due to new EHR implementations.