According to bankruptcy petitions for I-70 Community Hospital in Sweet Springs, Mo., and Prague (Okla.) Community Hospital, each hospital entered bankruptcy with less than $50,000 in assets and at least $1 million in liabilities.
Both hospitals have faced financial troubles in recent months. On March 7, CMS ended its provider agreement with I-70 Community Hospital, which voluntarily suspended its license for 90 days on Feb. 15. A judge allowed a new company to take over management of Prague Community Hospital in early March after the hospital experienced payroll issues and lacked funds for supplies.
Eight other hospitals owned by EmpowerHMS have entered bankruptcy since late February.
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