Becker's Hospital Review

17 CFO / FINANCE Oregon Rural hospitals at high risk of closing: 11 (34 percent) Pennsylvania Rural hospitals at high risk of closing: 18 (42 percent) Rhode Island Rural hospitals at high risk of closing: 0 (0 percent) South Carolina Rural hospitals at high risk of closing: 12 (48 percent) South Dakota Rural hospitals at high risk of closing: 11 (24 percent) Tennessee Rural hospitals at high risk of closing: 30 (59 percent) Texas Rural hospitals at high risk of closing: 82 (56 percent) Utah Rural hospitals at high risk of closing: 3 (14 percent) Vermont Rural hospitals at high risk of closing: 2 (15 percent) Virginia Rural hospitals at high risk of closing: 14 (50 percent) Washington Rural hospitals at high risk of closing: 20 (50 percent) West Virginia Rural hospitals at high risk of closing: 11 (46 percent) Wisconsin Rural hospitals at high risk of closing: 16 (22 percent) Wyoming Rural hospitals at high risk of closing: 7 (30 percent) n Tenet delays Conifer spinoff by 1 year By Alia Paavola D allas-based Tenet Healthcare is delaying the spinoff of its revenue cycle subsidiary Conifer by 12 months, the company said in its fourth-quarter earnings presentation Feb. 10. Tenet expected to complete the spinoff of Conifer into a separate publicly traded company in the second quarter of this year. However, the process will take another year, as COVID-19 created some delays, according to the presentation. "It's still going to occur. In the scheme of things, it is not a big delay. It will give us an opportunity to get past COVID and be prepared to do this in a much more effective manner," said Ron Rittenmeyer, Tenet executive chair and CEO. In 2020, Tenet worked to position Conifer for a successful spinoff by increasing margins and hiring external talent for key roles, including its CEO, COO and chief consumer officer. Conifer's margins increased to 28.1 percent in 2020, up from 17.7 percent in 2017. Tenet initially tried selling the business, but leaders said the offers it received for the company were underwhelming, especially given the revenue cycle company's improved performance since 2017. One analyst asked Tenet officials during the presentation if the company would consider selling the company rather than spinning it off if it received another offer. Mr. Rittenmeyer said he would consider it. "We're a public company. We have to consider whatever comes forward," Mr. Rit- tenmeyer said. "That's just the nature of the business." n Millennials show promise as most active philanthropic givers in 2021: 4 notes By Hannah Mitchell M illennials are often more like- ly to donate to philanthropic causes than their counter- parts, two surveys show. For one survey, the fundraising software provider FrontStream surveyed 1,005 adults from Dec. 12-14, 2020. A second survey from the market- ing company Data Axle polled 1,215 adults in August 2020. Four takeaways: 1. Fifty-five percent of millennials said in the FrontStream survey they plan to give at least $500 in 2021. Forty-four percent of Gen Xers plan to donate, followed by Gen Z (33 percent) and baby boomers (26 percent). 2. Millennials are more likely to contin- ue to donate throughout the year for causes they care about, according to FrontStream. Overall, 87 percent of re- spondents said they give annually. For- ty-four percent of millennials reported giving quarterly, compared to 42 per- cent of Gen Z respondents. Gen Xers and baby boomers were more likely to give two to three times a year. 3. In Data Axle's survey, 48 percent of respondents ages 18-29 and 41 per- cent of those ages 30-44 said they do- nated to philanthropic causes monthly. Only 27.9 percent of donors ages 45- 60 and 29.3 percent of those over 60 reported the same. 4. FrontStream found donors were most likely to support health charities (43 percent ), followed by child-fo- cused charities (42 percent), wildlife/ animal charities (34 percent) and so- cial justice charities (27 percent). n

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