According to the article, there’s still time to save the hospitals and no plans on closing at this point, but it’s the same thing faced all over the US, no money, and 50% of the hospitals in the US border on solvency, and sure hate to see that number rise by any means. Growing the business saddled with low reimbursements is not getting the job done.
Unfortunately, there’s a lot of related reading on this matter on the series I did called “Desperate Hospitals” over the last couple months. BD
FRAMINGHAM — MetroWest Medical Center executives held a meeting with legislators and business leaders yesterday to tell them the institution's two hospitals are losing money and need help remaining viable.
While there are no plans to close the Framingham Union and Leonard Morse campuses, executives said the two facilities lost a combined $4.2 million this quarter, including operating expenses that ended $360,000 in the red.
"This institution is unfortunately under financial duress," said Joseph Mullany, regional president for parent company Vanguard Health Systems. "The more I grow the business, the more I lose," he said. "So something has to change."
Desperate Hospitals: Chicago Hospital Hangs For Sale Sign
Desperate Hospitals - Hawaii- What is happening to our Hospital System?
Desperate Hospitals - August 29 (Continued)
Concerns Over Large Not-for-Profit Hospital System
Desperate Hospitals - Grady's financial cure in question
More Desperate Hospitals - Miami, FL and Cape Cod, MA
A hopeful prognosis - Desperate "California" Hospitals
Desperate Hospitals - Century City Doctors Hospital (Los Angeles) begins shutting down, others file Chapter 11 to reorganize
New New Jersey law to pinpoint financially troubled hospitals - "Desperate Hospitals"
Desperate Hospitals? (As Featured today in the WSJ)
The battle of the medical bills where nobody but the insurers win
Hospitals protest new California rules on patient balance billing
Cape Cod hospital gets $10M gift
Bankruptcy Bug Hits Hospitals – Desperate Hospitals
Desperate Hospitals – September 2008
Desperate Hospitals: Hospitals in Hands of Voters - Arkansas
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