Chief Restructuring Officer
There are various signs of a hospital’s downward spiral:
- The hospital is barely making payroll… time after time after time.
- Everyone in town complains hospital billing is slow and inaccurate – sometimes bills arrive over a year after care was given.
- Cash-on-hand is low and vendors complain the hospital isn’t paying its bills.
- Top hospital leadership has left with little notice.
- Billing revenue is at a trickle with write-offs taken on over 30% of revenue.
- A major payer – e.g., Medicare, Blue Cross - has suspended reimbursement to the hospital.
- Repayment of pandemic monies threatens to close the hospital.
- The local county or city ends or threatens to end tax support the hospital needs.