Issue link: https://beckershealthcare.uberflip.com/i/1501606
8 CFO / FINANCE Ohio hospital closes By Alan Condon M cLaren St. Luke's in Maumee, Ohio, closed May 8, one week earlier than initially planned, CBS affiliate WTOL11 reported. Emergency services wrap up at 12 p.m., lab services will be provided through 4 p.m., and X-ray services will be offered until 5 p.m., according to the report. Grand Blanc, Mich.-based McLaren Health Care closed the hospital earlier than expected because of the extra time it will need to migrate its EHR system and other IT data. The health system cited declining revenues and an unstable reimbursement environment as the reason for the hospital closure. Cincinnati-based Mercy Health is acquiring the hospital campus, which includes 12 buildings, and is working with WellCare Physicians Group practices through the transition to maintain the continuity of patient care. Changes will began after Mercy officially took over June 1. n CommonSpirit taking 'decisive steps' to boost revenue, cut costs, CFO says By Nick Thomas C hicago-based CommonSpirit posted $1.1 billion in operating losses for the nine months ending March 31. e 143-hospital system said it is taking measures to help turn the losses around. "Now we're taking decisive steps to boost revenue and address our costs to ensure we're operating in a sustainable way for years to come," CFO Dan Morissette said in a May 15 news release announcing quarterly and nine-month results. Such steps include expense reduction that has included a number of job cuts at the nonclinical level. At the same time, CommonSpirit said it is investing in better retention of nurses, which includes expansion of its virtual nursing programs. On the revenue side, the system is looking to volume growth and improved revenue cycle management with a specific focus on reducing clinical denials and underpayments. It is also expediting reimbursement of old patient accounts. CommonSpirit is also hoping to generate significant revenue opportunities from recent mergers and acquisition transactions, which include the acquisition of Steward Health Care's sites in Utah and the ending of its Centura Health joint venture with Altamonte Springs, Fla.-based AdventHealth. Sheri Shapiro will join CommonSpirit as its chief strategy officer effective June 5. n Transform content management across your healthcare enterprise Discover the advantages of enterprise content management developed for healthcare enterprises by healthcare professionals. For more than 25 years, Quest Diagnostics has provided timely updates and seamless integrations that keep leading healthcare organizations positioned competitively at the forefront of technology. See how Quanum Enterprise Content Solutions can help: • Drive operational efficiency • Ensure secure control and access • Reduce costs with effective data management Contact or visit us today at: QuanumECS@QuestDiagnostics.com QuanumECS.com © 2022 Quest Diagnostics Incorporated. All rights reserved.