Steward has asked San Antonio-based University Health System and Bexar County to take over the troubled hospital. However, both entities have so far declined.
Texas Vista was already struggling financially when Steward acquired it in 2017, and the COVID-19 pandemic led to even more significant losses, according to a March 1 Steward Health news release.
Traditionally, the hospital serves lower-income patients; nearly one-quarter of its patients cannot and do not pay for medical services.
Hospital President Jon Turton said he is still hoping for a takeover to save the hospital.
“It is part of University Health’s original charter to care for the indigent population of Bexar County. This service has largely fallen on Texas Vista’s shoulders over the past few years,” Texas Vista wrote in the release. “Meanwhile, University Health has used its vast resources to build a half-billion-dollar state-of-the-art hospital that will serve a wealthier patient base in a more affluent area. If such a large public charity has the funds to build this new hospital—off of which it will make significant money from its operation—it can afford to assume control of Texas Vista.”
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.