The hospital, which is part of the Dallas-based Forest Park Medical Center network of physician-owned facilities, is showing signs of financial distress. Todd Furniss, chairman of The Management Company at Forest Park Medical Center, told the Dallas Business Journal the physician-controlled board at the Frisco facility felt bankruptcy protection was necessary due to financing challenges and a reduction in out-of-network payments from insurance companies that the hospital relies on.
“It’s a sad day, but the board felt this is the best action to move forward,” said Mr. Furniss. “They want to do the best they can for the physicians to continue serving patients.”
The case is pending in U.S. Bankruptcy Court for the Eastern District of Texas.
More articles on healthcare finance:
Ohio hospital at risk of losing Medicare funding
8 recent hospital outlook and credit rating actions
Legislators reach compromise to privatize North Carolina’s $15B Medicaid program
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.
