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Week in review: 11 biggest stories in healthcare

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Stay in the know with Becker’s Hospital Review’s weekly roundup of the nation’s biggest healthcare news. Here’s what you need to know this week.

1. Tenet ditches sale plans after CEO’s departure
Dallas-based Tenet Healthcare ended efforts to sell itself following the departure of longtime leader Trevor Fetter Oct. 23, two sources familiar with the matter told Reuters Oct. 26.

2. Cleveland Clinic CEO Dr. Toby Cosgrove: Healthcare will undergo a ‘total restructuring’ to accommodate shift in payment models
Cleveland Clinic President and CEO Toby Cosgrove, MD, said during an Oct. 23 panel discussion the healthcare industry will have to completely restructure the way it works in order to effectively transition from a fee-for-service model to a value-based payment system.

3. Leadership exodus at Baptist Health System — CEO, CFO, COO & VP to depart
Four executives from San Antonio-based Baptist Health System are leaving their roles, a Baptist spokesperson confirmed to Becker’s Hospital Review.

4. Former executive of Cleveland Clinic spinoff charged in $2.8M fraud scheme
The former chief technology officer of a Cleveland Clinic spinoff company was arrested Oct. 19 and charged for his role in a conspiracy to defraud the hospital system out of at least $2.8 million.

5. Physician associated with secretive group accused of branding women resigns from New York hospital
A physician affiliated with a secretive group resigned from Albany, N.Y.-based St. Peter’s Hospital last week following recent reports he allegedly harmed several women as part of an “experiment.”

6. Los Angeles hospital to close, lay off 638 employees
Pacific Alliance Medical Center in Los Angeles will close Dec. 11.

7. Tenet CEO Trevor Fetter steps down
Dallas-based Tenet Healthcare’s longtime leader Trevor Fetter stepped down from his role as CEO and resigned as a director of the company on Oct. 23.

8. Florida hospital to suspend all services as it seeks capital
The Miami Medical Center, a 67-bed hospital, plans to suspend patient services beginning Oct. 30 as it works to secure more capital or a buyer.

9. Shareholders push for changes at Tenet and CHS: 6 things to know
Dallas-based Tenet Healthcare and Franklin, Tenn.-based Community Health Systems are facing pressure from shareholders as the two for-profit hospital operators struggle with heavy debt loads and plunging share prices.

10. Water main break forces 7 Michigan hospitals to close or cancel procedures: 6 things to know
A water main break in Farmington Hills, Mich., Oct. 23 forced several area hospitals to scale back services or completely shut down.

11. Walgreens to close 600 stores, spend $750M to rebrand Rite Aids
Walgreens plans to close about 600 stores over an 18-month period beginning next year.

More articles on leadership:
Legislators introduce bill targeting drug pricing
Democrats introduce legislation to offer state-sponsored public option
Former Medtronic CEO Bill George: No legislation has addressed the nation’s biggest healthcare problem

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