The 65-bed hospital has a heavy debt load and has experienced a decline in patient volume, which has led to financial challenges. The proposed hospital district would have helped St. Mark’s Medical Center stay afloat by taxing county homeowners and using those funds to pay for equipment, recruitment and other initiatives.
Without the taxing district, St. Mark’s Medical Center is a step closer to financial collapse, according to the Texas Observer. If the hospital closes, local residents would have to travel at least 20 miles to receive emergency room care.
More articles on healthcare finance:
ProMedica’s operating loss more than triples in Q1
Tennessee hospital abruptly closes
Washington hospital charged thousands of patients hidden ER fee, lawsuit claims
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.