Not-for-profit health systems are finding clever ways to reduce or avoid the new tax law's 21% excise tax on executive compensation that exceeds $1 million.
The cost of paying for top talent at health systems climbs sharply above a million dollars thanks to recent tax legislation, and many of the largest system CEOs make more than that.
Total compensation paid to the leaders of the largest not-for-profit healthcare associations exceeded $1 million in at least 15 instances, according to IRS Form 990 tax filings for 2016.
Dallas-based Baylor Scott & White Health posted more profit in the first nine months of its fiscal 2018 than in its entire fiscal 2017.
While Geisinger will have to spend around $5 million upfront to bring DNA sequencing into routine clinical care, the health system's president and CEO, Dr. David Feinberg, said it won't cost patients anything and will ultimately save money.
Over the next six months, Geisinger will enroll 1,000 patients in a pilot program recommending DNA sequencing as part of routine clinical care. Eventually, the health system said it will provide clinical DNA sequencing across the board.
Sentara Healthcare's overall operating income didn't change much from 2016 to 2017, but the system saw losses on two of its relatively new hospitals.
Two health systems in New York and Connecticut are teaming up to form a seven-hospital not-for-profit health system with combined revenue of $2.4 billion.
Intermountain Healthcare announced it will outsource 98 information technology jobs to DXC Technology, which will continue their employment for at least one year.
Geisinger Health and St. Luke's University Health Network are teaming up to build what will be Pennsylvania's first co-owned hospital.
Allina Health ended 2017 with an operating gain of $146 million after suffering a loss the prior year due to nursing strikes.
HHS' Office for Civil Rights is investigating Banner Health following a 2016 cyberattack that may have affected 3.7 million patients. The Phoenix-based not-for-profit system anticipates that it may receive negative findings and be fined.