Briefs

Modern Healthcare - - LATE NEWS -

Health­care re­form is pro­duc­ing pos­i­tive fi­nan­cial ben­e­fits for pub­licly traded hos­pi­tals, if early Q2 earn­ings re­leases are any in­di­ca­tion of what to ex­pect from other sys­tems when they re­port quar­terly earn­ings.

Life-Point Hos­pi­tals on Fri­day re­ported a 44.3% in­crease in in­come from con­tin­u­ing op­er­a­tions for the sec­ond quar­ter and raised its fi­nan­cial pro­jec­tions for the full year. The pub­licly traded chain at­trib­uted the re­sults to vol­ume growth, ex­pense man­age­ment, new ac­qui­si­tions and a bet­ter-than-ex­pected ben­e­fit from health­care re­form. Uni­ver­sal Health Ser­vices, which also held an earn­ings call Fri­day, sim­i­larly at­trib­uted an earn­ings im­prove­ment in its acute­care busi­ness to health­care re­form. Life-Point re­ported sec­ond-quar­ter in­come of $39.1 mil­lion on rev­enue of $1 bil­lion com­pared with $27.1 mil­lion on rev­enue of $894.9 mil­lion in the year-ago pe­riod.

The IRS late Thurs­day re­leased drafts of the forms that em­ploy­ers will have to file to show com­pli­ance with the Pa­tient Pro­tec­tion and Af­ford­able Care Act re­quire­ment that they pro­vide health in­sur­ance to work­ers.

The em­ployer man­date has been po­lit­i­cally con­tro­ver­sial, so the form’s re­lease sparked crit­i­cism be­cause it demon­strates the ad­min­is­tra­tion is mov­ing ahead de­spite ob­jec­tions. “It’s dis­ap­point­ing that Pres­i­dent Obama is ig­nor­ing bi­par­ti­san op­po­si­tion and push­ing ahead with his em­ployer man­date even though it will lead to fewer jobs and lower wages for the Amer­i­can peo­ple,” said Rep. Steve Daines (R-Mont.).

Patty Font­neau, CEO of Con­nect for Health Colorado, will leave her po­si­tion at the state’s health in­sur­ance ex­change in mid-Au­gust to be­come pres­i­dent of Cigna Corp.’s pri­vate ex­change busi­ness.

She will help the in­surer ex­pand its busi­ness in other in­sur­ance mar­ket­places across the coun­try, ac­cord­ing to a news re­lease. Bloom­field, Conn.based Cigna is one of 10 car­ri­ers that of­fers in­di­vid­ual health plans on the Colorado mar­ket­place. Con­nect for Health Colorado ex­pects to name an in­terim CEO by next week.

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