The downgrade is a result of several factors, including the hospital’s weakened budget performance in fiscal year 2016, decline in absolute cash and challenging payer mix.
Moody’s revised the outlook to negative at the lower rating level due to the hospital’s weak financial performance and revised fiscal year 2017 expectations that are below historical trends.
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Summa Health System to cut 300 jobs due to $60M operating loss
University of Iowa Health Care to stop accepting checks, cash July 1
West Virginia hospital to charge upfront co-pays for non-emergency ER visits
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