Northwell releases 37-point rescue plan for Brooklyn hospitals

http://www.beckershospitalreview.com/finance/northwell-releases-37-point-rescue-plan-for-brooklyn-hospitals.html

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Northwell Ventures, the consulting division of Great Neck, N.Y.-based Northwell Health, recently released a report that includes a rescue plan for Brooklyn’s distressed community hospitals.

In 2015, the State of New York allocated $700 million to overhaul the healthcare delivery system in Brooklyn, N.Y. In early 2016, the state awarded a grant to Northwell Ventures to prepare a feasibility and sustainability study to identify ways to improve the quality of healthcare in central and northeastern Brooklyn.

Northwell’s recently released report primarily focuses on four financially troubled hospitals in Brooklyn: Brookdale University Hospital and Medical Center, Interfaith Medical Center, Kingsbrook Jewish Medical Center and Wyckoff Heights Medical Center. In fiscal year 2017, the four hospitals will require more than $300 million in state operating assistance to remain open, according to the report.

The 165-page study includes 37 recommendations for the Brooklyn hospitals. Under the plan, the four hospitals would join together to form a new regional health system with a single board. “The market and financial forces confronting these hospitals make it virtually impossible for them to succeed as stand-alone hospitals,” the study reads.

The study also recommends Kingsbrook scale back by consolidating its inpatient services with the Brookdale campus, and moving its behavioral health beds to Interfaith. “From the standpoint of availability of services, it should be noted that Kingsbrook would maintain an emergency department and serve as a location for ambulatory care programs,” the study reads.

In addition to the clinical restructuring of services, the study also includes recommendations to address facility infrastructure deficiencies, develop an expanded ambulatory care network and deploy an enterprise-wide health IT platform.

Sonoma West Medical Center defaults on millions in loans

http://www.pressdemocrat.com/news/5703288-181/sonoma-west-medical-center-defaults?artslide=0&utm_campaign=CHL%3A+Daily+Edition&utm_source=hs_email&utm_medium=email&utm_content=30339721&_hsenc=p2ANqtz-8muQhHSjkzA1SCZi0cVywz8f5avHb4TiGVPAM1UgeeSVGTkKJI2phrE3wbtytYKvxH4ORZvG0-bNDF6tp-o2jLgZKoAQ&_hsmi=30339721

Sonoma West Medical Center confirmed Monday it has defaulted on millions of dollars in loans made to the struggling Sebastopol hospital by its two primary benefactors, raising further questions about its financial viability.

The treasurer for the hospital’s board of directors issued a letter last week warning that Sonoma West could be forced to close without an infusion of money. The warning, however, was questioned Monday night by the board of directors at the Palm Drive Health Care District, which provides financial support to the medical center.

GREEK HOSPITALS RUNNING OUT OF MONEY, LIFE EXPECTANCY CRASHING AS ECONOMY COLLAPSES

http://www.breitbart.com/national-security/2015/07/07/greek-hospitals-running-out-of-money-life-expectancy-crashing-as-economy-collapses/

GREECE-EU-REFERENDUM-DEBT

As the financial crisis in Greece worsens, more and more sectors of the Greek economy are taking hits, including the health care system. Greece has a socialized health care system and now that the government is running out of money, so are hospitals.

Rural hospital advocates march on Washington as closures loom

http://www.healthcarefinancenews.com/news/rural-hospital-advocates-march-washington-closures-loom?mkt_tok=3RkMMJWWfF9wsRogs6rJZKXonjHpfsX57u4rUa6zlMI%2F0ER3fOvrPUfGjI4GTsBiI%2BSLDwEYGJlv6SgFQ7LHMbpszbgPUhM%3D

Advocates on June 15, 2015 march on Washington to rally for rural hospitals support. <em>(<a href="https://twitter.com/torchnet/status/610454691349143552/photo/1">Photo courtesy of TORCH</a>)</em>

Dozens of advocates walked 283 miles to signify the 283 rural hospitals facing closure.

Moody’s: More distressed hospitals seek mergers to escape financial troubles

http://www.beckershospitalreview.com/finance/moody-s-more-distressed-hospitals-seek-mergers-to-escape-financial-troubles.html

OR Efficiencies

Troubled Transactions: Why There’s Still Hope for Financially Struggling Hospitals

Troubled Transactions: Why There’s Still Hope for Financially Struggling Hospitals

Hospital Transactions and Valuations