Here are four things to know.
1. The corporation, known as NuHealth, reportedly owes the New York State Health Insurance Program $62.6 million in healthcare premium payments.
2. The owed payments, which were revealed during an examination of NUMC’s operations, come as the corporation is struggling financially, reports Newsday. NuHealth’s new board chairman, George Tsunis, partially attributed the financial struggles to significant legacy costs on top of existing expenses.
3. Amid NuHealth’s financial struggles, the public benefit corporation voted to oust NUMC President and CEO Victor Politi, MD, and restructure the hospital’s leadership, April 18. NuHealth also stopped contracting with attorneys and banned top employees from traveling to the Cayman Islands, where its self-insurance program is located, according to the report.
4. NuHealth officials seek to cut the health insurance arrearage in half by July, according to the report, partially by using up to $56 million in short-term revenue anticipation notes.
Read the full Newsday report here.
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