Oklahoma hospital explores bankruptcy

Atoka (Okla.) County Medical Center is facing financial troubles and is on the verge of filing for bankruptcy, according to a KXII news report.

The hospital is about $16 million in debt. "The position we are in with our creditors and many of our vendors, we owe so much money, my fear is that they may garnish our account and we won't be able to make payroll," hospital CEO Traci Walker told KXII.

Hospital officials have paid a lawyer to prepare the bankruptcy documents while they decide whether filing for bankruptcy is the best option.

A hospital about 45 miles away in McAlester, Okla., has offered ACMC financial assistance and advice on how to reorganize, but Ms. Walker told KXII she doesn't want to borrow more money.

More articles on healthcare finance:

Envision Healthcare joins S&P 500 post merger
6 Massachusetts health networks test ACO pilot program for Medicaid
Oregon health system to close women's clinic over staffing issues

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars