The hospital filed for Chapter 11 bankruptcy protection in Sept. 2009 because of financial losses, lawsuits and a poor payor mix, among other reasons. By adopting total quality management processes and a new business model that emphasizes quality of care and customer service orientation, however, the hospital has made significant improvements, including gaining cash reserves of $3 million.
Read the Downey Patriot report on Downey Regional Medical Center.
Related Articles on Hospital Bankruptcy:
Bankruptcy Judge Approves Liquidation of Ohio’s Forum Health
California’s Prime Healthcare to Buy Bankrupt Victor Valley Hospital
Pennsylvania’s Lower Bucks Hospital Closer to Reemerging From Bankruptcy
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.
