Doctors Medical Center is on track to lose $18 million a year. Hospital officials confirmed the hospital would have no money by the end of October without Kaiser’s grant, which will keep the hospital operating until the end of the year.
Meanwhile, proposed legislation, which has already passed the state Senate and Assembly, would make borrowing easier for hospitals such as Doctors Medical Center. The legislation awaits Gov. Jerry Brown’s signature.
Doctors Medical Center has long struggled to stay financially viable. It declared bankruptcy in 2006, at which time Kaiser granted the hospital $12 million over three years. In April, Doctors Medical Center received a $10 million emergency loan from the county in order to keep its doors open. The hospital is now awaiting approval of a parcel tax that would raise approximately $5 million each year.
Related Articles on Doctors Medical Center:
County to Vote on Parcel Tax That Would Keep Doctors Medical Center Open
California’s Doctors Medical Center Receives $10M Emergency Loan From County
CEO of California’s Doctors Medical Center Steps Down
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