Senior Care Centers Files For Bankruptcy, Citing “Burdensome Debt Levels”

Senior Care Centers, a Dallas-based skilled nursing and assisted living operator, filed for bankruptcy this week. The company has 11,000 employees throughout Texas and Louisiana in more than 100 locations. All facilities will continue to operate without interruption and the filing should not impact patient care or worker salaries, according to a release. The release noted “burdensome debt levels and expensive leases” as the reasoning for filing for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Northern District of Texas. “After careful analysis, we determined that the protections afforded by the Chapter 11 process are the best way to address… Full Story

Local Gastroenterology Group Creates New Alliance With Chicago Private Equity Firm

Texas Digestive Disease Consultants will be teaming up with with Waud Capital Partners to from the GI Alliance, providing TDDC with greater resources to grow its gastroenterology care group into other regions of the US. TDDC is the largest gastroenterology group in the country with 70 locations, 159 physicians, 1000 employees and 95 hospital affiliations in Texas and Louisiana, and was founded by Dr. James Weber in 1995. “The timing is right for this partnership,” said Dr. Weber, CEO of TGIA and President of TDDC. “The healthcare industry is changing at a breakneck pace. Government and payer requirements are increasingly complex,… Full Story

Teladoc Reports Another Quarter of High Revenue Growth With A Net Loss

Teladoc Inc. reported its second quarter earnings on Wednesday, showing revenue of $94.6 million during the three months that ended June 30. For the year, Teladoc has brought in $184.2 million, up from $87.5 million at this point last year. The growth is a combination of recent acquisitions—as noted in my story here—and organic growth, which came in at 39 percent for the second quarter. It continues to operate at a loss, taking a $25.2 million hit during Q2—compared to a net loss of $15.4 million during the same period last year. Another thing of note in those earnings: Teladoc… Full Story

Teladoc Filing Gives A Sense Of The Size Of The Company Following Recent Acquisitions

A new regulatory filing from Teladoc sheds light on the company’s rapid growth following a couple recent acquisitions. The telemedicine pioneer disclosed financial statements on Monday that show new acquisition Advance Medical-Healthcare Management Services brought in $18.5 million during the first quarter. That goes with Teladoc’s first quarter revenue of $89.6 million to create a combined first quarter revenue of $108.1 million. The company brought in $42.9 million during the same quarter last year. Teladoc now stations its top executives in Purchase, New York, but its second corporate office remains nearby in Lewisville, where the company was founded in 2002.… Full Story

Where DFW’s Healthcare Community Stands On A Price Transparency Proposal From CMS

Ask a random selection of people about whether they’d appreciate more up-front knowledge about the prices they pay for healthcare, and you’d be hard-pressed to find anyone that’s happy flailing around in the dark. As the public becomes more aware of inflated costs, the drumbeat for price transparency grows louder. But even so, practicality issues abound in transitioning a market whose prices have long sat largely beyond consumer view. As a result, the Centers for Medicare and Medicaid Services have proposed a rule that would force hospitals to post their lists of standard charges on their websites. At a minimum,… Full Story

Tenet Tops Among For-Profit Trend Toward Higher Revenue Per Patient

With Q1 earnings time having come and gone, Modern Healthcare on Monday took a look at a trend that emerged across first-quarter reports from the largest for-profit hospital systems: They’re making more money per patient. And among them, Dallas-based Tenet Healthcare Corp. made the largest leap by that metric, growing revenue per admission by 4.1 percent during the first quarter of 2018. Tenet leadership, as MH points out, attributed that to higher acuity, particularly within its expanding sectors of cardiovascular and trauma. It says the trend is sustainable. Interestingly, the No. 2 system by growth in revenue per admission also… Full Story

T-System Hires A New CFO

Dallas-based T-System has added Steve DeCosta as its chief financial officer. DeCosta comes over from Research Now, a digital data company, and will head the day-to-day financial operations as well as the financial and operating strategy for T-System and RevCycle+, its sister company. T-System is a healthcare IT company that specializes in emergency department documentation. “Steve brings T-System a wealth of experience and knowledge in all areas of finance and accounting, along with focused, financial discipline needed to help steer our growth,” said Tim Swango, EVP and chief operating officer at T-System, in a statement. “His background in publicly traded… Full Story

Irving-based Christus Health Gets Good News From Moody’s As Its Good Shepherd Turnaround Continues

In early 2017, Christus Health System finalized a deal to bring Longview-based Good Shepherd Health System under its direction. Late last week, the Irving-based not-for-profit’s efforts to turnaround Good Shepherd were recognized by Moody’s Investor Service. Moody’s raised Good Shepherd’s bond rating by four notches, from Caa1 to Ba3. Under the new rating, Moody’s says the hospital’s bonds have speculative elements and are subject to substantial credit risk. The old rating had the bonds judged to be of poor standing and subject to very high credit risk. Why the change? Well, Moody’s is high on the new ownership from Christus,… Full Story

Panelists from Baylor Scott & White, UT Southwestern, and Children’s Weigh In On Hospital Innovation

On Monday afternoon, some innovation-minded hospital administrators gathered at Factory Six03, a trendy spot in downtown Dallas’ West End, to talk about hospital innovation. And they didn’t disappoint, offering some straightforward thoughts on topics ranging from a trend toward smaller, community hospitals, to telemedicine, to navigating a tricky transition period between fee-for-service and value-based care. With myself asking the questions, the panelists for the Dallas Startup Week event were Matthew Chambers, chief information officer at Baylor Scott & White Health; Suresh Gunasekaran, VP and chief of operations at UT Southwestern Health System; and Julie Hall-Barrow, VP of virtual health and… Full Story

Medical City Plano and Medical City Frisco Name New CFO

The chief financial officer for Medical City Denton will take on that job at Medical City Healthcare’s Plano and Frisco facilities, the hospitals said Monday. Jon Alford has been named CFO for 513-bed Medical City Plano and 54-bed Medical City Frisco. He’ll relent his duties at the Denton locale, where he’s led the finance team for the last two years. In all, Alford has nearly 15 years in healthcare finance across systems in Arkansas, North Carolina, Michigan, and Oklahoma. Alford is taking over for Melissa McLeroy, who moved on to become CFO of Medical City Dallas earlier this year. “Jon’s… Full Story