San Antonio hospital shuts down

Forest Park Medical Center's San Antonio hospital has closed after the hospital's property owner filed for bankruptcy protection about two weeks ago, according to a Dallas Business Journal report.

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

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