In fiscal year 2013, ended Dec. 31, Interfaith Medical Center in Brooklyn, N.Y., lost $36.3 million from operations, according to unaudited financials.
That total is $4.7 million more than what hospital officials had projected. The hospital had only 6.3 days of cash on hand, and discharges are down almost across the board. As of December, Medicare and Medicaid represented more than 87 percent of Interfaith's inpatient payer mix.
Interfaith filed for Chapter 11 bankruptcy in December 2012, and the safety-net hospital has been struggling to survive since then. It has come close to shuttering its doors several times. Most recently, this past December, officials said Interfaith would start closing in early January, laying off more than 1,500 people in the process.
However, the New York State Department of Health cast a line to Interfaith and is providing the hospital with emergency funding through March 7. New York City Mayor Bill de Blasio, hospital officials and other community leaders are still figuring out ways to turn the hospital around, including the possibility of finding other organizations to manage Interfaith.
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