Becker's Healthcare January 3, 2025
Indianapolis-based Community Health Network reported a $108.5 million operating loss (-4.1% margin) for the nine months ending Sept. 30, down from a $12.6 million operating gain (0.5% margin) during the same nine-month period in 2023.
Five things to know:
1. The drop in operating performance is largely attributed to a $145.7 million settlement CHN paid to the Justice Department to resolve false claims allegations. The complaint was filed by the health system’s former CFO Thomas Fischer under the whistleblower provisions of the False Claims Act.
2. Excluding the $145.7 million settlement, CHN’s operating margin was $37.1 million (1.4%)for the nine months ending Sept. 30, 2024. The increase in operating margin was driven by increases in both inpatient and...
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