United Medical Center in D.C. Loses $13.8M in FY 2012

United Medical Center, based in Washington D.C., continues to struggle financially, as the district-owned hospital lost $13.8 million in fiscal year 2012, according to a Washington Business Journal report.

A major reason for the losses involved Medicaid overpayment. The District of Columbia recouped roughly $11 million and halted millions more in future payments, bringing total Medicaid corrections to roughly $17.3 million, according to the report.

UMC has struggled to stay afloat for the past several years. In February 2012, the hospital requested $15 million from local taxpayers to shore up its finances. In 2010, the district had to take over UMC because Specialty Hospitals of America, the previous for-profit owner, defaulted on its payments.

More Articles on Hospital Finance:

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