DMC filed for bankruptcy in 2006 despite an approved parcel tax from voters, and this new measure, which will cost county taxpayers $47 per year, will bring in roughly $5 million to fend off the hospital’s creditors for the time being, according to the report.
DMC, which is the only hospital in the region with a full-service emergency room, plans to control its finances long-term by sharing more services with other hospitals, making cuts to its administration and restructuring its debt.
Related Articles on Financially Distressed Hospitals:
Peninsula Hospital in New York Announces Layoffs Amid Restructuring
Judge Gives Indiana’s Kentuckiana Medical Center One Month to End Bankruptcy
Hospital Operator Based in Missouri Files for Bankruptcy Protection
