The hospital, which has been opened just over a year, is owned by 33 local physicians and CHA LLC, a Wichita, Kan.-based hospital management company.
The hospital’s assets were frozen by its bank, which lead to the bankruptcy filing. A U.S. Bankruptcy court unfroze the hospital’s accounts yesterday. A spokesperson for the hospital said the facility has “between $10 million and $50 million in assets and liabilities in the same range,” according to the report.
The hospital’s problems date back to its opening, which was fought against by local, non-physician-owned hospitals that feared the private facility would draw away privately insured patients from their facilities. The hospital’s CEO Chris Stavens said in the report that the hospital “started in the hole” due to the additional certifications it needed to get up and running, according to the report.
Read the Courier-Journal report on Kentuckiana Medical Center.
Read more coverage on physician-owned hospitals:
– Lawsuit Challenges Ban on Physician-Owned Hospitals in Health Reform Law
– Physician Hospital Executive Director Molly Sandvig Discusses What Happens Next With Health Reform
