First-year audit finds fault in for-profit hospital's finances
A year after a for-profit company took over Meadowlands Hospital Medical Center and vowed to shore up its finances, the hospital posted a 10 percent profit—more than four times the state average—and paid its investors $8.4 million, according to a draft financial report submitted to the state. But the audit also states that the 230-bed hospital in Secaucus defaulted on a loan and overdrew a bank account by $1 million in 2011. Employees say paychecks have bounced at least three times since December, prompting an investigation by the state Department of Labor.
- Half of All Primary Care, Internal Medicine Jobs Unfilled in 2013
- How Digital Strategy Shapes Patient Engagement at Boston Children's Hospital
- CFO Exchange: Smartphones Poised to Disrupt Healthcare, Says Topol
- CNO on Hospital Redesign: 'You Can't Over-Communicate'
- Carondelet to Pay $35M to Settle Fraud Allegations
- Some Cancer Hospitals' Quality Data Will Soon Be Public
- PA Ranks See 'Phenomenal Growth,' Lack of Diversity
- CA Powers Up $80M HIE to 'Create Value in the Data'
- Consumerism Drives Healthcare Branding, Rebranding Efforts
- 3 Traits Personality Assessments Can't Reveal