Financials

Hospitals, Physicians To Share Millions From Clear One Sale

The sale of for-profit Clear One to PacificSource nets investors big money
February 25, 2010 – Although the sale of Clear One Health Plans by PacificSource Health Plans awaits approval by state regulators, documents filed with the Insurance Division express very clearly who will benefit from the $46 million acquisition: hospitals and physicians. Read More >>

Insurers Ready Another Round of Double-Digit Hikes

State actuaries say medical costs went up 12 to 13 percent last year
February 4, 2010 -- Regence BlueCross BlueShield is asking the Insurance Division to approve a 25.3 percent average premium increase on more than 73,000 individuals whose policies renew starting April 1. Read More >>

Hospital Profits Slumped, Charges Held Steady

Oregon hospitals felt a financial slump last year but patients wouldn't know it to judge by their bills
December 17, 2009 -- An investigation by The Lund Report shows that even though Oregon's 57 hospitals earned more than 50 percent less profit last year, they still collected more than 8 percent greater revenue than the year before, which meant everyone -- including insurers -- paid more for their services. Read More >>

Investments Buoy Oregon Health Insurer Profits

Will gains transfer to lower premiums? Not yet anyway
December 10, 2009 -- Oregon insurers continued reaping the rewards of a positive stock market through much of this year, based on the latest available financial statements filed with the state. Read More >>

Salem Hospital Faces $9 Million in Cuts, Pays High-Priced Consultants

The hospital’s home health agency might be closed or sold
November 12, 2009 -- When Norman Gruber, CEO of Salem Hospital, sent his staff a memo announcing cutbacks of $9 million next year, he might have unleashed a hailstorm. Read More >>

OHSU Hospital Reports Strong First Quarter

Portland’s largest employer is “cautiously optimistic” after the sudden departure of CFO
November 12, 2009 -- Oregon Health & Sciences University’s board tried to walk a fine line between caution and optimism when they met on Nov. 10. Read More >>

Controlling Costs Rests on Hospitals

Oregon hospitals made more than $325 million in profit last year, down from 2007
November 4, 2009 -- With health reform dominating the headlines, everyone’s poised on keeping costs under control. Dr. Chuck Kilo, CEO of Greenfield Health, knows one of the major culprits -- non-profit hospitals in Oregon. They’re making significant amounts of money, and are extremely profitable. Read More >>

Salem Hospital to Cut $9 Million

Salem's biggest private employer might have to lay off staff amid record losses
Originally at StatesmanJournal.com
October 19, 2009 -- Salem Hospital, the city's biggest private employer, is grappling with a streak of losses for the first time in years and considering significant cuts that could include layoffs, officials said. Read More >>

Enrollment Down, Profits Up for Oregon Insurers

Insurers are on pace to increase profits this year by 25 percent on higher premiums while fewer people have coverage
September 9, 2009 -- As premiums continue to rise unabated, Oregon insurers lost more than 21,000 members in the second quarter of 2009 – from April through June – representing a 1.2 percent decline compared to the first quarter of this year. Read More >>

Industry Pressure Mounts on State Regulators

Lobbying to limit health insurance rate regulation extends beyond walls of the state capitol
September 3, 2009 – Armed with authority to peer deeper into health insurance balance sheets, the state agency that governs the industry faces intense lobbying pressure. Read More >>
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