Oklahoma hospital declares bankruptcy

Craig General Hospital in Vinita, Okla., has filed for Chapter 9 bankruptcy in the Northern District of Oklahoma U.S. Bankruptcy Court, according to a Tulsa World report.

Like many other rural hospitals across the nation, the Craig General was struggling due to reduced reimbursement rates. Retirement program payments were also among the pressures that led the 62-bed facility to file for bankruptcy Feb. 25.

By filing for Chapter 9 bankruptcy, Craig General will be able to reorganize its debt. The hospital has 572 unsecured creditors with $1.4 million in claims, according to the report.

More articles on healthcare finance:

Henry Ford Health System posts $27.8M surplus
5 hospital CFOs in the headlines this week
6 recent hospital outlook and rating actions

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars