Oklahoma hospital turns to GoFundMe to stay afloat: 8 things to know

Pauls Valley (Okla.) Regional Medical Center is asking for donations from the community to prevent the hospital from closing, according to a KOKH news report.

Here are eight things to know:

1. The hospital's dire financial situation was disclosed at a meeting Sept. 16 lead by Alliance Health Partners CEO Frank Avignone. Alliance Health Partners is the hospital's interim operator. Mr. Avignone attributed the financial crisis to mismanagement, poor relationships with community physicians, low admission rates and other challenges facing rural hospitals.

2. Pauls Valley Hospital needs $230,000 by Sept. 17 to make payroll and pay expenses for the week. Hospital officials then hope to secure $270,000 more by the end of the week to pay employee benefits and other taxes, according to Mr.  Avignone.

3. "The money we're raising in the first $500,000 goes to the employees," Mr. Avignone told KOKH. "It goes to paying their back benefits, getting their insurance caught up, the things that needed to get done through this crisis."

4. At the meeting, the hospital passed out envelopes to citizens and disclosed it has a GoFundMe page encouraging citizens to save Pauls Valley Hospital.

5. Due to a legal issue with the hospital's previous owner, the money must come through donations.

6. After employee benefits are funded, the hospital is looking to secure l $1.5 million more to keep it afloat as it works through the legal battle.

7. If the hospital closes, the nearest hospital would be 30 miles to 40 miles away, according to the hospital's Go Fund Me page.

8. As of 7 p.m. Sept. 16 , the hospital had received $26,000 in pledges, according to a Facebook post.

"Unfortunately during this time, many of our employees understandably cannot afford to work somewhere that cannot promise them a paycheck. With that being said, we are still looking for donations, as we are short of making our payroll," the Facebook post reads.

More articles on healthcare finance:
Illinois hospital closes: 4 things to know
MU Health Care's annual revenue hits $1B for first time
U of Kansas Health gets record-breaking $66M gift

 

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