Louisiana began to privatize its charity care hospital system in 2013. As part of the privatization, Biomedical Research took over operations at two Shreveport, La.-based University Health System hospitals affiliated with LSU School of Medicine, including its flagship facility in Shreveport and UH Monroe (La.).
But LSU officials have argued the hospital operator’s poor management skills has driven LSU’s hospitals to the brink of financial ruin, according to The Shreveport Times. LSU President F. King Alexander said Biomedical Research lacks the resources and experience to run medical teaching facilities that care for largely for low-income, uninsured patients, causing Biomedical Research to run through hospital reserves and put the facilities at risk of bankruptcy.
University Health officials have denied the accusations. UH chairman Steve Skrivanos said the hospitals’ difficulties stem from LSU’s losing financial model maintained during the past decade, according to the article.
The Board of Regents placed University Hospital Shreveport on fiscal watch Aug. 31.
The university system is negotiating with other hospitals in the region to locate their medical school residents at new facilities, according to the article.
More articles on finance issues:
NJ hospital accused of luring foreign moms with false advertising
Week in review: 7 biggest healthcare stories this week
NJ hospital markets US citizenship birth program to Russian moms
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
