NEW BEDFORD – Mayor Jon Mitchell presented a city budget to the council Wednesday that topped half a billion dollars.
The totals: $513,169,319.
And by far the largest portion of that is the general fund, which comes in at $458,910,392.
It’s the general fund that includes schools, public safety, and city government.
It also includes health insurance, pensions, mandatory assessments and debt services.
Mitchell was optimistic about the city’s financial future while cautioning that new budget tactics are needed.
He said it’s time to stop “ignoring the elephant in the room” which is rising healthcare and pension costs.
“Over many…
health insurance marketplace
Health care compliance due diligence essentials for private equity investment
May 16, 2023 – This is the third piece in our series on private equity investment in health care — which explores why conducting due diligence in a health care purchase requires special attention, particularly for private equity firms entering the sector for the first time. The first piece focused on compliance precautions and the second focused on enforcement trends.
This piece details the questions that should be asked to uncover compliance concerns and the red flags that should give a private equity investor in health care pause. If private equity moves too quickly to turn a profit, fundamental regulatory…
Kaiser Permanente Acquires Geisinger Health in $5B Mega-Deal
In one of the largest healthcare deals to date, Kaiser Permanente is acquiring Pennsylvania-based Geisinger Health and investing $5 billion to fold it into a new nonprofit subsidiary called Risant Health, which is set to purchase additional medical groups in coming years.
While regulators still must review this initial acquisition, the marriage of Kaiser and Geisinger would create a behemoth with more than $100 billion in annual revenue — 95% of it coming from the Kaiser side of the equation.
Like Kaiser, Geisinger both owns hospitals — 10 of them — and operates its own health insurance program. Unlike California-based…