NuHealth Chairman Robert Detor, appointed in January, said at a recent board meeting that NuHealth could run out of money by March, given the company’s increasingly poor financial picture.
“I came to the determination that there is a possibility that this hospital could close if we don’t change how we’re functioning and modify this business platform,” Mr. Detor said, according to Newsday.com. “Unless we do something, unless we change how we operate, we are going to go belly up.”
NuHealth has lost $28 million in the first half of the year. Mr. Detor said the board agreed last year to a four-year labor contract that provides 8 percent raises to union members, but it hasn’t figured out how to pay for them.
Read the full report here.
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