139-year-old California hospital to close this month

Colusa (Calif.) Regional Medical Center and three of its clinics will close April 22.

Regarding the closure, Colusa Regional Interim CEO and Chief Restructuring Officer Wayne Allen said, "During the last three years, it has become increasingly more difficult for a small community hospital to survive."

Although Mr. Allen didn't provide details as to the hospitals pending closure, John Loundon, the CRMC board liaison, told the Appeal-Democrat thatchanging reimbursement models under the Affordable Care Act, loss of capital and a medical paradigm shift to outpatient care are the primary reasons for the closure.

Mr. Allen said CRMC's management will continue to seek potential buyers for the hospital for the next three to six months.

More articles on healthcare finance:

6 hospitals with strong finances
Massachusetts hospital to cease inpatient services
CCJR model takes effect this week: 13 things for healthcare leaders to know

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months