Thoughts from Lisa Goldstein

In the wake of 9/11, New York City hospitals have stepped up brilliantly to take care of thousands of patients affected by the World Trade Center attack.

It’s not all bad news when it comes to not-for-profit hospital financial performance. Some hospitals and health systems are navigating labor pressures and reporting improving results.

ESG scores from rating agencies reflect the risk that ESG issues will affect a hospital’s ability to earn cash flow and repay its debt, but are not “gold stars” for a sophisticated or well-considered ESG strategy.

The possibility of breached covenants is a symptom of deeper problems that require an all-hands-on-deck approach to get back on a sustainable path.

The staggering losses reported by many not-for-profit hospitals in the first quarter of 2022 showed deficits that the industry has rarely seen.

The first quarter of 2022 will undoubtedly be one of the most financially challenging periods for not-for-profit hospitals.

“Hope doesn’t pay debt service” is a message I heard repeatedly from many hospital executives during my years as a ratings analyst. Any astute finance executive or finance committee...

Interest in ESG investing has grown at a rapid pace, but disclosure standards are still developing. Health system leaders should carefully consider the pros and cons of ESG disclosure.

As we emerge from the COVID-19 pandemic, we face a changed reality. Expenses—particularly labor expenses—have reset at a higher level. Inflation is rising at rates not seen since the...

SVP, Lisa Goldstein, shares what she learned about hospitals, healthcare, and the not-for-profit mission from her breast cancer journey.

Kaufman Hall co-founder and Chair Ken Kaufman and Senior Vice President Lisa Goldstein—formerly a longtime not-for-profit hospital ratings analyst for Moody’s—recently explored the evolving perspectives of healthcare leaders on how to best balance credit ratings with other key strategic imperatives, including the rising importance of health equity

Almost everything that not-for-profit hospital ratings analysts evaluate can be measured, quantified, and databased. Except for one: governance.

“Will I be downgraded if my organization’s margins decline because I am investing for its future?” This is one of the most common questions that provider organizations ask ratings...

Over the years, I have had many things that I have wanted to tell the executives at not-for-profit hospitals. As a ratings analyst, however, I couldn’t. Now I can. This is the first of...