New York hospital seeking financial turnaround advice

Nassau University Medical Center in East Meadow, N.Y., is seeking a second opinion on a financial turnaround plan, Bloomberg reported July 14. 

An earlier financial recommendation, provided by advisers Alvarez & Marsal, recommended that the hospital end emergency services and shut its inpatient unit and transition it to a behavioral health facility. Another option was to sell its 589-bed skilled nursing facility.

However, the public benefit corporation that oversees the hospital, Nassau Health Care, took issue with the conclusions in the adviser's report, arguing it didn't account for operating improvements recently made or an expected rebound post-pandemic. 

"Closing Nassau University Medical Center would be an extreme action which would leave the entire region of Long Island without a Level I trauma center and burn center," the hospital said in a statement in March, according to Bloomberg. "Concurrently, eliminating the emergency department would have serious and dangerous ramifications not only for our first responders, but to the surrounding communities."

Now the hospital is seeking input from another adviser and issued a request for advisers this month to help improve its finances. 

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