Healthcare
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Redeemer Health Operating Deficit Surpasses $50 Million in Fiscal 2024
Redeemer Health, the Montgomery County health system that operates Holy Redeemer Hospital in Meadowbrook, saw its operating deficit surpass $50 million in fiscal 2024, writes John George for the Philadelphia Business Journal. For the fiscal year that ended June 30, Redeemer Health posted an operating loss of $53.2 million which was an increase of 37…
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Haverford ‘Miracle Woman’ Survives Brain Injuries
Swimming may have provided the miracle that allowed Nan Long of Haverford to survive a near-fatal brain injury and return to a normal life, writes Kathleen E. Carey for the Daily Times. “I fell down the basement steps reaching for a darn box of dog bones,” the now 67-year-old said of the incident on Oct.…
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Community Comes Together to Support Breast Cancer Patients at ‘Light The Night Pink’ Fundraiser
The Newtown business community painted the town pink throughout October, raising a record amount for Main St., a nonprofit dedicated to supporting local breast cancer patients, writes Jeff Werner for the Patch. During the Light The Night Pink fundraiser, which included the crowning of Mr. Bucks County for 2024, the business community raised more than…
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Pennsylvania Attorney General Seeks State Control of Crozer Health
Citing years of financial turmoil at Crozer Health, Pennsylvania Attorney General Michelle Henry has petitioned Delaware County Common Pleas Court asking that the health system be placed under state receivership, writes Harold Brubaker and Sarah Gantz for The Philadelphia Inquirer. The unprecedented move came after Crozer Health’s owner, Prospect Medical Holdings Inc, notified state officials…
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Universal Health Services Pauses M&A, Shifts Focus Toward Tech Development
King of Prussia’s Universal Health Services is shifting focus away from mergers and acquisitions, reports Rylee Wilson for Becker’s Behavioral Health. Instead, CFO Steve Filton says they are looking toward capital expenditures and share repurchases. On an Oct. 25 investor call, Filton explained that while the company is regularly presented with M&A prospects, “not a…
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Nucleus RadioPharma’s Move to Lower Gwynedd is All About Strategy
Minnesota-based Nucleus RadioPharma selects Lower Gwynedd for a new 48,000 square-foot facility, reports John George for the Philadelphia Business Journal. The radiopharmaceutical contract and manufacturing organization will move to a new facility at Spring House Innovation Park. The facility will consolidate research, development, and commercial production. The company expects the project to create 50 new…
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WSJ: Researchers At Health Institutions Like Penn Medicine Are Testing Vaccines to Prevent Cancer
Researchers throughout the nation are making progress toward vaccines that train healthy immune systems to eliminate signs of cancer before it develops, writes Brianna Abbott for The Wall Street Journal. Some vaccines are in early trials for people with inherited genetic mutations that put them a greater risk for cancer, while others are designed to…
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IBX Foundation’s Service Scholars Program Accelerates Pathway to a Nursing Career for Military Veterans
The United States is currently grappling with a nursing shortage that is impacting healthcare. The shortage is causing a ripple effect, which includes rising healthcare costs, concerns about quality of care, and increases in the demand for and complexity of healthcare. For more than a decade, the Independence Blue Cross Foundation has been committed to…
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Main Line Health Halves Operating Loss, Charting a New Financial Course
Main Line Health significantly improved its financial performance in fiscal 2024, reports John George for the Philadelphia Business Journal. The health group reduced its operating loss by half, according to audited financial statements. They reported an operating loss of $61.1 million for the year ending June 30, down from a $125.3 million deficit in the…
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ETHOS Co-Founder and Chief Clinical Officer to Be Honored by Caron Foundation
A. Michael Blanche, the co-founder and Chief Clinical Officer of ETHOS Treatment LLC, will receive the Richard J. Caron Award of Excellence at a gala on Nov. 7 at the Kimmel Center for the Performing Arts in Philadelphia. Blanche has spent more than two decades delivering direct clinical treatment for individuals grappling with dual diagnoses…
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Main Line Fertility: Busiest and Highest Revenue-Producing Ambulatory Surgery Center in the Region
Main Line Fertility was 2023’s top revenue-generating and busiest ambulatory surgery center in the Philadelphia region, reports John George for the Philadelphia Business Journal. This is according to a Pennsylvania Health Care Cost Containment Council report. The Bryn Mawr-based reproductive endocrinology group earned $31.7 million and handled 16,104 patient visits. The report includes data from…
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Chester Springs Woman One of Nation’s First Patients for Alzheimer’s Treatment
Karen Chung of Chester Springs has received one of the nation’s first treatments for early symptomatic Alzheimer’s disease, write Yukare Nakayama and Cherise Lynch for NBC10 Philadelphia. Chung, 63, is getting care at Abington Neurological Associates. She just received her first dose of Kisunla, an intravenous drug that removes amyloid plaque and extreme build-up of the…
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Newsweek: Two Montgomery County Hospitals in Top 20 of Best Pennsylvania Hospitals
Newsweek recently released its America’s Best-In-State Hospital 2024 ranking and two Montgomery County hospitals made the top 20 in Pennsylvania. Scores were calculated using market research and consumer data from Statista. Lankenau Medical Center in Wynnewood took the 8th spot with a score of 84.72% while Jefferson Abington Hospital came in at No. 17 with…
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Universal Health Services Sells Hospital to Shannon Health System
King of Prussia-based Universal Health Services recently sold River Crest Hospital to San Angelo, Texas-based Shannon Medical Center, writes Alan Condon for Becker’s Hospital Review. River Crest in San Angelo is an 80-bed facility that offers behavioral health and substance use disorder programs for children, adolescents, adults, and military members. The hospital’s new owner already…
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Main Line Health CEO to Retire After 20 Years
Main Line Health CEO Jack Lynch will retire next June after 20 years at the helm, reports Harold Brubaker for The Philadelphia Inquirer. At 64, Lynch has navigated significant growth for the nonprofit health system, including the aquisition of Riddle Hospital and Mirmont Treatment Center. However, he faced substantial financial challenges following the COVID-19 pandemic…
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Horsham Raises Awareness for National Suicide Prevention Month
Horsham Township came together to raise awareness during National Suicide Prevention Week, reports Dino Ciliberti for the Patch. The community wanted to provide hope to those struggling. The township building adorned its front lawn with purple pinwheels, signaling their efforts to prevent suicide and promote mental health awareness. Township Manager Bill Walker shared that these…
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Eagleville Hospital Inks Win-Win Deal with Staff
Nurses at Eagleville Hospital unanimously agreed to a new three-year contract with the hospital, writes Justin Heinze for the Patch. Both parties described the negotiation as highly productive. The agreement, reached by 78 nurses and techs, includes a 5 to 15 percent pay raise, enhanced staffing guidelines, a health and safety committee to review incidents,…
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Chester County Unveils Initiative for Mental Health Support and Housing Solutions
Chester County recently unveiled its Human Needs Network, aimed at combating a mental health pandemic, housing crisis, food insecurity, and more, writes Kenny Cooper for the WHYY. With this new initiative, Pennsylvania’s wealthiest county is placing counselors on the line as well as specialists on the streets to be able to reach people where they…
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