Perhaps the biggest incentive for hospitals to take action comes from the IRA, which President Biden signed into law back in August. The IRA is the largest climate change legislation ever enacted globally and provides for $369 billion in climate change programs and incentives with a 10-year timeframe.
A company hired to make improvements at South City Hospital says in new litigation that the facility's owner diverted funds meant for those projects, as it seeks millions in damages.
Hazel Hawkins Memorial Hospital has declared a fiscal emergency, opening the door for a possible Chapter 9 bankruptcy filing. The hospital cited various issues for the declaration.
The Outlook revision to Negative reflects the expected dilution of unrestricted liquidity in FY23 when Meritus plans to apply for candidate status with the Commission on Osteopathic College Accreditation (COCA) for the proposed Meritus School of Osteopathic Medicine (MSOM). The application will result in Meritus utilizing approximately $50 million of liquidity to fund an escrowed segregated, unencumbered reserve fund and operating reserve fund that will be released if MSOM receives final accreditation.
Paoli Hospital has been overwhelmed since the closure of both Jennersville and Brandywine hospitals. It has experienced a 16% increase in emergency room volumes and at times hits 100% in capacity levels, writes Bill Rettew for The Daily Local News. But now, with $2 million in pandemic relief grants, the hospital will be expanding its emergency department. Eight new treatment rooms will be added.
Arbor Health has welcomed Cheryl Cornwell as its new chief financial officer (CFO). Cornwell comes to Arbor Health with 16 years of experience in the healthcare field of which 13 years were as a CFO.