Detroit-Area Hospitals Don't Expect Major Snags From City's Bankruptcy

Although Detroit is going through the largest municipal bankruptcy in U.S. history, area hospitals and health systems do not anticipate major, direct ramifications in the near term, according to a Crain's Detroit Business report.

Detroit-based Henry Ford Health System CFO James Connelly said in a statement to Crain's Detroit Business that, "We will do everything we can to help the city to reduce its healthcare costs. We're all in this together, and we're confident that this process will result in a stronger Detroit."

Executives from Dearborn-based Oakwood Healthcare, Troy-based Beaumont Health System and Warren-based St. John Providence Health System expressed similar sentiments, though area hospitals could eventually be affected if Detroit does not pay debt to health insurers, which are major creditors.

More Articles on Hospital Finance:
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Sound Shore Health System Gave CEO, CFO Payments Before Bankruptcy Filing
Christ Hospital in New Jersey Set to Exit Bankruptcy

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