Officials from Pioneer Hospital of Stokes in Danbury, N.C., hope the bankruptcy process, which could take up to two years, will stabilize operations.
“It will allow us to keep the vendors we have for our supply base and pay our creditors over time,” Pam Tillman, the hospital’s assistant CEO, said in a memo to staff, according to the report. “The ultimate goal is to stabilize the entire organization for a long term successful future for the communities and patients we serve.”
Ms. Tillman reassured hospital staff they would continue to be paid during the restructuring process.
Delays in payment by insurance companies, increased use of high deductible health plans and the need to invest in an EHR system were some factors that led to the bankruptcy filing.
More articles on healthcare finance:
6 hospitals with strong finances
Massachusetts hospital to cease inpatient services
CCJR model takes effect this week: 13 things for healthcare leaders to know
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
