Coalinga Regional Medical Center CEO Wayne Allen told The Fresno Bee the hospital owes $5 million to unsecured creditors — $250,616 of which it owes to 115 employees for accrued vacation and sick time.
The hospital qualifies for Chapter 9 bankruptcy protection because it’s a taxpayer-supported district hospital, the report states.
Coalinga Regional Medical Center ran out of cash earlier this year, and the hospital closed June 12, laying off 100 employees. It closed its skilled nursing facility July 16.
More articles on healthcare finance:
Navigating patient payment challenges across new healthcare delivery models
Moody’s revises Indiana Regional Medical Center’s outlook to negative
10 hospitals seeking RCM talent
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
