4 NY hospitals could face $310M in operating losses in FY 2017

A report commissioned by the New York State Legislature determined four Brooklyn-based hospitals will incur more than $310 million in operating losses in fiscal year 2017.

State officials commissioned the business consulting division of Great Neck, N.Y.-based Northwell Health to examine the finances of four hospitals in the Brooklyn area, including: Brookdale University Hospital and Medical Center, Interfaith Medical Center, Wyckoff Heights Medical Center and University Hospital of Brooklyn.

The report concluded the hospitals have "undergone a decade of financial and organizational trauma," according to the report. Collectively, the hospitals will require over $310 million in direct state operating assistance to maintain operations.

To remedy the situation, the report recommends the four hospitals engage in a Transformation Plan. The plan includes components such as:

  • Establishing an independent, unified board governance structure to all state hospitals
  • Appointing systemwide management and clinical leadership
  • Developing a large, geographically dispersed ambulatory care network
  • Creating an enterprisewide information technology platform

To view the full report, click here.

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