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Victoria's major regional hospitals are still showing financial red flags, with some also failing to provide the healthcare they pledged to provide, ACM can reveal. or signup to continue reading An analysis of the health services' 2023-24 annual reports, as well as their statements of priority - the contracts they sign with the Victorian government - showed many recorded operating deficits running into the tens of millions of dollars. It showed others were bailed out by the government with even greater sums, while some recorded huge deficits even after equally large bailouts. But the analysis showed a handful of services were also falling well short of their activity targets: the amount of clinical care they have contractually agreed to provide over the year. ACM has published since February, 2024 of Victoria's regional hospital system and to meet their activity targets. As these services negotiate with the government over their 2025 budgets and activity levels, the documents show most are still struggling to keep both their healthcare and budget under control. Nearly every major regional hospital in Victoria recorded a substantial deficit in 2023-24. ACM used the net result from transactions, which tallies revenue from transactions against expenses. The Department of Treasury and Finance calls it "a summary measure of the ongoing sustainability of operations". Bendigo Health notched a $27 million deficit, Goulburn Valley Health $42 million, Northeast Health Wangaratta $12 million and Albury Wodonga Health $51 million. The only two large regional health services with a surplus were Grampians Health ($44 million) and South West Healthcare ($27 million). But they were both only in the black because they each had money for their hospital redevelopments - $113 million for Grampians Health and $65 million for South West Healthcare - sitting on their ledger. Several services also received huge amounts of "supplemental funding" to keep them afloat during the year. Bendigo Health received $46 million, Northeast Health Wangaratta $28 million, and Albury Wodonga Health $55 million. Grampians Health received more than $75 million in supplemental funding. This was nearly four times the bailout funding received by Barwon Health in Geelong, a health service 50 per cent larger than Grampians Health. The data also showed every major regional health service failing to keep the required amount of cash on hand to pay staff and run its healthcare operations. The government mandate is for each service to have 14 days' operating cash available. Goulburn Valley Health and Albury Wodonga Health had just seven days' cash. South West Healthcare had 10. Northeast Health Wangaratta had two days' available cash. Both Grampians Health and Bendigo Health refused to say how many days' cash they had, but confirmed it was less than 14. ACM asked several of the health services what they were doing to get their budgets under control. Bendigo Health said it was still negotiating with the government over its 2024-25 budget, but was "committed to operating sustainably, ensuring that it delivers its promised activity while maintaining a balanced budget". South West Healthcare CEO Craig Fraser said the service had negotiated a "break even operational budget for 2024-25" with the government. "While it will require continued close budget management, we are confident it can be achieved placing us in a better financial and operational position," Mr Fraser said. Grampians Health didn't discuss its budget, but said it would "continue to work with the Department of Health to achieve financial sustainability". Albury Wodonga Health did not respond. Over the past year, we have improved access to care, particularly in the regional locations. The state government said its for 2024-25 had allowed a "reset" of health service budgets. The government has increased the funding it provides for each healthcare activity, which it said would offer health services a "fair price", paving the way for "greater financial certainty and stability to the sector". It also created a new entity, Hospitals Victoria, to keep the health services on a tighter financial leash. "We're working with health services to ensure every dollar is spent on delivering the frontline care Victorians need," a spokesperson said. A comparison of each health service's annual report with its statement of priority revealed several services delivering much less clinical care than promised. The statement of priority lists the contracted activity target, while the annual report records the actual number of activity units delivered. Each unit is worth about $5000 in funding to the health service. A big operation like a knee or hip replacement might cost five units, while a simple colonoscopy would cost just 0.4 units. The documents showed Grampians Health fell 5400 units (about $27 million or 2700 surgeries) short of its 2023-24 target. Goulburn Valley Health fell 6838 units short (about $34 million or 3400 surgeries), while South West Healthcare fell 4512 units short ($22.5 million or 2250 surgeries). The activity shortfalls are particularly concerning when 61,000 Victorians remain on the state's planned surgery wait lists and emergency department wait times are than metropolitan Melbourne. ACM understands South West Healthcare's outpatient activity shortfall was less severe than the figures reported in its statement of priority. Mr Fraser said the service treated 1200 more inpatients in 2023-24 than the year prior, as well as 7000 extra outpatients. A Grampians Health spokesperson said the organisation had "improved access to care, particularly in the regional locations, and enhanced care options though increased cross-campus collaboration". "Like many health services, Grampians Health is experiencing high demand and increasing numbers of complex cases," the spokesperson said. Correspondent covering key issues across regional Victoria, based in Melbourne. Correspondent covering key issues across regional Victoria, based in Melbourne. DAILY Today's top stories curated by our news team. WEEKDAYS Grab a quick bite of today's latest news from around the region and the nation. WEEKLY The latest news, results & expert analysis. WEEKDAYS Catch up on the news of the day and unwind with great reading for your evening. WEEKLY Get the editor's insights: what's happening & why it matters. WEEKLY Love footy? We've got all the action covered. 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Louisville will aim to end a three-game losing streak when it hosts UTEP on Wednesday, but beating the Miners may not be an easy feat. UTEP (6-2) comes to the Derby City winners of three straight, most recently beating Seattle 88-72 on Saturday. The Miners shot 56.1 percent (32 of 57) and used a 24-2 first-half run to essentially put the game away. Coach Joe Golding said that first-half performance may have been UTEP's best in his four years leading the school. "I thought offensively and defensively the first 20 minutes we were really locked in and ready to go. (The game) never got close," he said. "We kept it at 20-plus points for the majority of the game. Our ball movement was terrific." Ahamad Bynum led the Miners with 19 points on 7-of-9 shooting off the bench, while Otis Frazier III added 18 points and five assists. Frazier (13.6 points per game) and Bynum (12.1 ppg) are among four UTEP players averaging in double figures. Bynum leads the country shooting 63.3 percent from beyond the 3-point arc, though he has attempted just 30 threes, making 19. Louisville (5-4) also started hot in its last game but could not sustain its momentum in a 76-65 home loss to then-No. 9 Duke on Sunday. Coach Pat Kelsey's team, which had just seven players healthy, made 10 of its first 14 shots to build a 30-16 lead before the Cardinals' lack of depth caught up to them. Louisville shot just 9-of-37 (24.3 percent) after its hot start and was outscored 43-28 after halftime. Terrence Edwards Jr. paced the Cardinals with 21 points in his first game as a reserve this season. Edwards (11.9 ppg) is one of four Louisville scorers averaging double figures, led by Chucky Hepburn leads the team in scoring (14.3 ppg) and is second in the country with 3.2 steals per game. The Cardinals entered the season with expectations of rotating 10 or more players to utilize Kelsey's up-tempo attack. However, swingman Kasean Pryor (knee) and guard Koren Johnson (shoulder) will both miss the rest of the season, while forward Aboubacar Traore (arm) is out indefinitely. After Sunday's loss, Kelsey did not rule out adding players to the roster during the season. "Everything's on the table," he said. "I don't sleep, figuring out what buttons to push to get this team to be the best that they can be. We'll scour every inch of the Earth to figure out how we can improve our team. And whether that happens or not, I have no idea, but I'm willing to try anything." --Field Level MediaNEW YORK (AP) — A slide for market superstar Nvidia on Monday knocked Wall Street off its big rally and helped drag U.S. stock indexes down from their records. The S&P 500 fell 0.6%, coming off its 57th all-time high of the year so far. The Dow Jones Industrial Average dipped 240 points, or 0.5%, and the Nasdaq composite pulled back 0.6% from its own record. Nvidia’s fall of 2.5% was by far the heaviest weight on the S&P 500 after China said it’s investigating the company over suspected violations of Chinese anti-monopoly laws. Nvidia has skyrocketed to become one of Wall Street’s most valuable companies because its chips are driving much of the world’s move into artificial-intelligence technology. That gives its stock’s movements more sway on the S&P 500 than nearly every other. Nvidia’s drop overshadowed gains in Hong Kong and for Chinese stocks trading in the United States on hopes that China will deliver more stimulus for the world’s second-largest economy. Roughly three in seven of the stocks in the S&P 500 also rose. The week’s highlight for Wall Street will arrive midweek when the latest updates on inflation arrive. Economists expect Wednesday’s report to show the inflation that U.S. consumers are feeling remained stuck at close to the same level last month. A separate report on Thursday, meanwhile, could show an acceleration in inflation at the wholesale level. They’re the last big pieces of data the Federal Reserve will get before its meeting next week on interest rates. The widespread expectation is still that the central bank will cut its main interest rate for the third time this year. The Fed has been easing its main interest rate from a two-decade high since September to offer more help for the slowing job market, after bringing inflation nearly all the way down to its 2% target. Lower interest rates can ease the brakes off the economy, but they can also offer more fuel for inflation. Expectations for a series of cuts from the Fed have been a major reason the S&P 500 has set so many all-time highs this year. “Investors should enjoy this rally while it lasts—there’s little on the horizon to disrupt the momentum through year-end,” according to Mark Hackett, chief of investment research at Nationwide, though he warns stocks could stumble soon because of how overheated they’ve gotten. On Wall Street, Interpublic Group rose 3.6% after rival Omnicom said it would buy the marketing and communications firm in an all-stock deal. The pair had a combined revenue of $25.6 billion last year. Omnicom, meanwhile, sank 10.2%. Macy’s climbed 1.8% after an activist investor, Barington Capital Group, called on the retailer to buy back at least $2 billion of its own stock over the next three years and make other moves to help boost its stock price. Super Micro Computer rose 0.5% after saying it got an extension that will keep its stock listed on the Nasdaq through Feb. 25, as it works to file its delayed annual report and other required financial statements. Earlier this month, the maker of servers used in artificial-intelligence technology said an investigation found no evidence of misconduct by its management or by the company’s board following the resignation of its public auditor . All told, the S&P 500 fell 37.42 points to 6,052.85. The Dow dipped 240.59 to 4,401.93, and the Nasdaq composite lost 123.08 to 19,736.69. In the oil market, a barrel of benchmark U.S. crude rallied 1.7% to settle at $68.37 following the overthrow of Syrian leader Bashar Assad, who sought asylum in Moscow after rebels. Brent crude, the international standard, added 1.4% to $72.14 per barrel. The price of gold also rose 1% to $2,685.80 per ounce amid the uncertainty created by the end of the Assad family’s 50 years of iron rule. In stock markets abroad, the Hang Seng jumped 2.8% in Hong Kong after top Chinese leaders agreed on a “moderately loose” monetary policy for the world’s second-largest economy. That’s a shift away from a more cautious, “prudent” stance for the first time in 10 years. A major planning meeting later this week could also bring more stimulus for the Chinese economy. U.S.-listed stocks of several Chinese companies climbed, including a 12.4% jump for electric-vehicle company Nio and a 7.4% rise for Alibaba Group. Stocks in Shanghai, though, were roughly flat. In Seoul, South Korea’s Kospi slumped 2.8% as the fallout continues from President Yoon Suk Yeol ’s brief declaration of martial law last week in the midst of a budget dispute. In the bond market, the yield on the 10-year Treasury rose to 4.19% from 4.15% late Friday. AP Business Writers Matt Ott and Elaine Kurtenbach contributed.

President-elect Donald Trump “should not be threatening his political opponents with jail time,” Sen. Adam Schiff — one of those being threatened — said Tuesday. During an interview with NBC’s “Meet the Press,” Trump said Sunday that members of the special House committee that investigated the January 6, 2021 Capitol insurrection should go to jail. He said the committee destroyed its records, which Vice Chair Liz Cheney said is a “ridiculous and false” charge. But in fact, Trump said, “Cheney was behind it. And so is Bennie Thompson and everybody on that committee,” he said. “For what they did, honestly, they should go to jail.” Trump told “Meet the Press” moderator Kristen Welker he would not direct his FBI director or attorney general to send them to jail. “Not at all,” he said, but added, ‘They’ll have to look at that.” Schiff, then a Los Angeles-area congressman, was a member of the committee. Rep. Bennie Thompson, D-Miss., was chairman and former Rep. Cheney, R-Wy., was vice chairman. The committee had two Republicans and seven Democrats, and it gained widespread publicity as it held hearings and revealed details about the involvement of Trump and his allies in their efforts to overturn the results of the 2020 presidential election. It issued its final report two years ago. Schiff, sworn in as California’s junior U.S. senator Monday afternoon, was appearing at a news conference Tuesday with Senate Majority Leader Chuck Schumer, D-N.Y., who was introducing him. They were asked about Trump’s threats . Schumer was quick to defend Schiff. “Look, bottom line is we all know Sen. Schiff did a very good job on the hearings. He broke no laws whatsoever. The truth stands for itself,” Schumer said. Schiff weighed in, saying of Trump’s comments: “That’s not the kind of talk we should hear from the president in a democracy nor do I think that a pardon is necessary for members of the Jan. 6 committee.” The White House has been considering preemptive pardons for some who could be subject to Trump administration investigations. Schiff has said repeatedly he’s not interested in a pardon. He reiterated he was “proud of the work we did on that committee. It was a fundamental oversight obligation, to investigate the first attempt to interfere with the peaceful transfer of power in our history.” ©2024 McClatchy Washington Bureau. Visit mcclatchydc.com . Distributed by Tribune Content Agency, LLC.