Borrego Community Health Foundation announced Monday that it has filed for Chapter 11 bankruptcy protection, but will keep all its clinics open — including several in the Coachella Valley — while it restructures its finances and resolves state regulators' concerns about its billing practices.
The downgrade to Ba3 reflects Yakima Valley Memorial Hospital Association's material and recent decline in operating performance, resulting in negative operating cash flow, and a significant drop in unrestricted cash through the first two quarters of 2022. The negative outlook reflects the severity of cashflow and liquidity losses through the first two-quarters of 2022 and uncertainty about the pace of improvement, given ongoing and significant labor challenges.
The sudden closure announcement of Atlanta Medical Center, a busy downtown hospital with one of the city’s only two Level I trauma centers, is just the latest manifestation of a terrible reality: Too many hospitals are worth more dead than alive.
Behavioral health provider Summit BHC has named Todd Wyatt its next chief financial officer. This news comes at a time when Summit is quickly expanding. In January, the provider announced the acquisition of seven psychiatric hospitals in six states from Strategic Behavioral Health. This added an additional 613 inpatient psychiatric beds to its portfolio.
The Comox Strathcona Regional Hospital District passed a motion on Sept. 8 to amend its budget and authorize up to $100,000 in additional grant funding. They say the funding would expand clinic grants in 10 communities across the area.
The new relationship, if finalized, will allow for ''tighter integration'' of clinical, administrative and financial resources with the aim of achieving operational efficiencies to sustain "cost-effective, high-quality clinical services in their rural communities."
