Downturn may send public hospitals into bankruptcy
The economic downturn will force more municipalities to make the tough political call of shedding financially draining public hospitals, possibly through a bankruptcy filing, according to healthcare restructuring expert George Pillari. Pillari, a managing director at restructuring firm Alvarez & Marsal, said publicly funded hospitals have been a key contributor to huge financial losses that cities and counties around the U.S. have been experiencing.
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