The hospital, which is part of the Dallas-based Forest Park Medical Center network of physician-owned facilities, had been showing signs of financial distress. Todd Furniss, chairman of The Management Company at Forest Park Medical Center, blamed the bankruptcy filing on insurers’ collective refusal to contract with out-of-network providers.
The hospital’s more than 100 employees were notified of the closure Oct. 15. Mr. Furniss told the Dallas Business Journal, “We’re working to make sure all employees get paid.”
Mr. Furniss said he hopes the hospital will be able to reopen. “We are looking for a transaction that will allow us to revitalize operations,” he told the Dallas Business Journal.
More articles on healthcare finance:
Back from the brink of closure: How a California hospital rebounded after 3 years of losses
Maryland hospital at risk of losing Medicare funding
Novant Health to close North Carolina hospital
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.