This hospital just emerged from a 3 year bankruptcy and hopes to have a plan in place before a September 30th deadline closing takes place. BD
The State Health Department is reviewing the latest proposal for revamping services at embattled Parkway Hospital in Forest Hills and hopes to make a decision on the plan early next month, a department spokeswoman said this week. Meanwhile, a Sept. 30 deadline for closing the 251-bed facility remains in place, said spokeswoman Claire Posposil. In a 2006 report, the Berger Commission - a special panel that evaluated the fiscal condition of health care facilities across the state - recommended that Parkway be closed. The hospital emerged from a three-year bankruptcy in late February. "We still hope to remain an acute care facility but we presented a restructuring plan to the state in conjunction with the closing plan," said hospital spokesman Fred Stewart.
Closing the maternity ward and selling 2 buildings to hopefully avoid bankruptcy. BD
Stanley Brezenoff, president of Continuum Health Partners, the parent company of Long Island College Hospital, said Wednesday that the obstetrics service was being closed and the two buildings sold in an effort to pay off tens of millions of dollars in operating and capital debt that might otherwise force it to declare bankruptcy.
Mr. Brezenoff said that delivering babies was the biggest money loser at the hospital, as at many hospitals, because of low reimbursement rates and high premiums for malpractice insurance. “Our decision to take this step is not a happy one,” he said.
Received a loan to help the facility emerge from bankruptcy. BD
Last week, the county Board of Supervisors, on a 4-0 vote, agreed to loan Sebastopol's Palm Drive Hospital $3 million to help it emerge from bankruptcy.
The loan is great news for the hospital which is a critical part of the region's weakening health care system. The area can ill-afford to lose a major medical facility. With the loan in place, Palm Drive hopes to emerge from bankruptcy within 90 days.
Bankruptcy from 2002 now finally settling some of the debt 6 years later. BD
Established in 1941 as the San Luis Medical Clinic, Mission Medical at one point had 55,000 patients on its books and 11 offices around the county. In 2000, 28 local doctors purchased Mission Medical from Tenet Healthcare Corp., the owner of Sierra Vista Regional Medical Center in San Luis Obispo and Twin Cities Community Hospital in Templeton.
Employees received checks that had no money behind them. BD
A bankruptcy judge described the distribution of worthless paychecks to former Living Hope Psychiatric Hospital employees as reckless at a hearing Thursday in Little Rock. U.S. District Judge James Mixon of the Western District of Arkansas also ruled that Kimbro Stephens, the hospital’s head of operations, didn’t have standing to request that the former hospital’s bankruptcy lender, Northern Healthcare Capital of New York, be forced by the court to fund the payroll.