According to the S&P report, Provena owes roughly $1.1 million in tax payments for 2002. The ratings agency said Provena’s debt is stable at BBB+. It is not yet clear whether Provena will be required to pay taxes for the years following 2002, which could amount to $10 million, according to the S&P report cited by the Tribune.
The decision only applied to Urbana, Ill.-based Provena Covenant Medical Center’s property tax exemption. Provena’s other five hospitals were not affected by the ruling.
Read the Chicago Tribune story on Provena.
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.
