Health News
- Another Rural Ky. Hospital Will Become Part Of A New Group To Stay Afloat; Glasgow's Hospital Is Buying Columbia's Bankrupt One
ColumbiaMagazine.com Another rural Kentucky hospital is merging with a larger hospital system in order to keep its doors open. T.J. Regional Health, the parent company of T.J. Samson Community Hospital in Glasgow, just announced its plan to buy...
- Beshear Says Ky. Rural Hospitals 'have A Positive Cash Flow' But He Can't Prove It; Industry Says It Sees 'some Improvement'
By Al Cross Kentucky Health News FRANKFORT, Ky. -- Gov. Steve Beshear says Kentucky's rural hospitals are profitable again, thanks to his expansion of Medicaid, but he offers little evidence to support his claim, and the hospital industry disputes...
- Adair County Residents Will Get An Extra Tax Bill As Trustees Of Bankrupt Hospital Vote To Levy A Tax To Pay Its Debts
Facing a $20 million debt and in bankruptcy, the Adair County Hospital District trustees voted unanimously Oct. 4 to impose a 10 cents-per-$100 value property tax, effective immediately. In August, in a move perhaps unprecedented in Kentucky, the district...
- Adair County Hospital District Files Chapter 9 Bankruptcy
In a move perhaps unprecedented in Kentucky, the Adair County Hospital District has voted to file for protection under Chapter 9 of the federal bankruptcy code, the same chapter used by bankrupt cities such as Detroit. The district has a $20 million debt,...
- As Debt Deepens And Auditors Arrive, Adair County Hospital Ceo Resigns And Is Apparently Escorted From The Building
The CEO of Westlake Regional Hospital in Columbia "resigned Monday morning and was apparently escorted out of the hospital," reports the Adair County Community Voice. Rusty Tungate "and eight others turned in their resignations just one day before a consulting...
Health News
Clinton County Hospital in Albany gets most of its USDA debt forgiven, but is still in bankruptcy and is seeking a buyer
The U.S. Department of Agriculture has forgiven more than half the debt owed it by the Clinton County Hospital, which has been operating under Chapter 11 bankruptcy protection since last fall.
?We?re not out of bankruptcy, but we have settled with the USDA,? Hospital Administrator J.D. Mullins told the Clinton County News. ?We no longer owe them almost $18 million, but we now owe them $8.465 million. . . . This is no guarantee that the hospital will flourish, but it does give us a fighting chance. We?re not closing any time soon.?
Mullins said the settlement could make the hospital more attractive to a buyer. However, conditions set by the hospital board could pose obstacles. The USDA loan was used to expand and modernize the hospital in the county of 10,000 on the Tennessee border south of Lake Cumberland. The project was completed in 2008.
The hospital has blamed its problems on federal budget cuts and changes in Medicare and Medicaid, which provide more than 80 percent of the hospital's revenue -- particularly the managed-care companies that oversee Medicaid. ?These companies? polices have restricted access to the hospital?s services and reduced our reimbursement even more,? Mullins told the newspaper.
?We?re not out of bankruptcy, but we have settled with the USDA,? Hospital Administrator J.D. Mullins told the Clinton County News. ?We no longer owe them almost $18 million, but we now owe them $8.465 million. . . . This is no guarantee that the hospital will flourish, but it does give us a fighting chance. We?re not closing any time soon.?
Mullins said the settlement could make the hospital more attractive to a buyer. However, conditions set by the hospital board could pose obstacles. The USDA loan was used to expand and modernize the hospital in the county of 10,000 on the Tennessee border south of Lake Cumberland. The project was completed in 2008.
The hospital has blamed its problems on federal budget cuts and changes in Medicare and Medicaid, which provide more than 80 percent of the hospital's revenue -- particularly the managed-care companies that oversee Medicaid. ?These companies? polices have restricted access to the hospital?s services and reduced our reimbursement even more,? Mullins told the newspaper.
- Another Rural Ky. Hospital Will Become Part Of A New Group To Stay Afloat; Glasgow's Hospital Is Buying Columbia's Bankrupt One
ColumbiaMagazine.com Another rural Kentucky hospital is merging with a larger hospital system in order to keep its doors open. T.J. Regional Health, the parent company of T.J. Samson Community Hospital in Glasgow, just announced its plan to buy...
- Beshear Says Ky. Rural Hospitals 'have A Positive Cash Flow' But He Can't Prove It; Industry Says It Sees 'some Improvement'
By Al Cross Kentucky Health News FRANKFORT, Ky. -- Gov. Steve Beshear says Kentucky's rural hospitals are profitable again, thanks to his expansion of Medicaid, but he offers little evidence to support his claim, and the hospital industry disputes...
- Adair County Residents Will Get An Extra Tax Bill As Trustees Of Bankrupt Hospital Vote To Levy A Tax To Pay Its Debts
Facing a $20 million debt and in bankruptcy, the Adair County Hospital District trustees voted unanimously Oct. 4 to impose a 10 cents-per-$100 value property tax, effective immediately. In August, in a move perhaps unprecedented in Kentucky, the district...
- Adair County Hospital District Files Chapter 9 Bankruptcy
In a move perhaps unprecedented in Kentucky, the Adair County Hospital District has voted to file for protection under Chapter 9 of the federal bankruptcy code, the same chapter used by bankrupt cities such as Detroit. The district has a $20 million debt,...
- As Debt Deepens And Auditors Arrive, Adair County Hospital Ceo Resigns And Is Apparently Escorted From The Building
The CEO of Westlake Regional Hospital in Columbia "resigned Monday morning and was apparently escorted out of the hospital," reports the Adair County Community Voice. Rusty Tungate "and eight others turned in their resignations just one day before a consulting...