Want to help a hospital go bankrupt? Get a bad EHR - Westchester hospitals' sale price over $54 million, Hospitals' debt about $200M

<div style="text-align: center;">- Posted at the Healthcare Renewal Blog on June 3, 2013 -  </div><br /><a href="http://www.ssmc.org/homepagess.cfm">Sound Shore Medical Center</a> (New Rochelle, NY) is filing for bankruptcy protection:<br /><br /><blockquote class="tr_bq">Montefiore Medical Center is offering to buy Sound Shore Health System for $54 million plus furniture and equipment, according to the latter’s bankruptcy filing — which also reveals just how far the troubled Westchester health network had fallen into the red. <br /><br />Sound Shore Medical Center in New Rochelle, Mount Vernon Hospital and five related entities have about $200 million in debts owed to more than 3,000 creditors, while possessing only $159.6 million in assets, the U.S. Bankruptcy Court documents show. <b>Sound Shore filed for Chapter 11 bankruptcy protection Wednesday as the first step in discharging its debts and selling itself to the Montefiore system.</b></blockquote><br />Why were they in the red?<br /><br />You can read the full article "<b>Westchester hospitals' sale price over $54 million; Hospitals' debt about $200M</b>" in The Journal News for yourself at this link: <a href="http://www.lohud.com/article/20130530/NEWS/305300081/Westchester-hospitals-sale-price-over-54-million?odyssey=tab|topnews|text|News&gcheck=1">http://www.lohud.com/article/20130530/NEWS/305300081/Westchester-hospitals-sale-price-over-54-million?odyssey=tab|topnews|text|News&gcheck=1</a>, but there's this interesting passage:<br /><br /><blockquote class="tr_bq">... Beginning in 2006, the hospitals saw falling patient volume and a change in their case mix. That led to “significant” losses in recent years, negative cash book balances and bills paid more than 225 days late. <b>A 2011 electronic medical record and billing system conversion caused major delays in billing and cash collection that still haven’t been fully solved. </b></blockquote><br />(This passage has a familiar ring to it; e.g., see SEC Count 9 at "<b>Florida Hospital gets an 'F' on Informatics</b>" at  <a href="http://www.ischool.drexel.edu/faculty/ssilverstein/cases/?loc=cases&sloc=miami">http://www.ischool.drexel.edu/faculty/ssilverstein/cases/?loc=cases&sloc=miami</a>.)<br /><br />A 2011 EHR and billing conversion?  It's now 2013.<br /><br />How many hospital IT personnel does it take to <strike>screw in</strike> implement a <strike>light bulb</strike> new EHR?<br /><br />-- SS<br /><br />

Want to help a hospital go bankrupt? Get a bad EHR - Westchester hospitals' sale price over $54 million, Hospitals' debt about $200M

- Posted at the Healthcare Renewal Blog on June 3, 2013 -  Sound Shore Medical Center (New Rochelle, NY) is filing for bankruptcy protectio...

Đọc thêm »