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I don't understand how a hospital in one of the wealthiest neighborhoods in the whole country is bleeding so much money that they may have to close. How they could have allowed the situation to get so bad?
Despite what people may think, its common for hospitals to lose money especially when so many of the people being treated there have no insurance are here illegally. The hospital must treat everyone no matter what the ability to pay is, and the cost of hospital care without reimbursement is enough to put any hospital under. It's sad really. I'm sure another hospital system will probably buy the building and put something there.
It's looking doubtful that it will get saved. A hospital system was interested, but pulled out. This is the second bankruptcy filing since 2004. The clinic and illegals have drained it dry, and I assume there must have been administration problems as well. A loved one works there and is very, very worried. It's sister hospital, St. Vincent's Staten Island, went bankrupt a few years ago and was bought out.
Maybe the U.S. Government could help - we need good hospitals. I am trying to move to New York, & I would be happy to work for low pay if that will help. I have experience & education in accounting and IT; surely there's something I could do.
The hospital has an enormous debt - around $700 million. The government is in no position to bail out the hospital. Especially one that is run under the auspices of the Catholic church. Hospitals are generally losing propositions. All very sad.
This is sad but no surprise at all. Many of the hospitals in New York and in US are losing money yearly. I don't know how true this is but a doc once told me that the only NYC hospital in a good financial position is Montefiore-Einstein, and all the others are in the red. Government help? No way. As matter of fact, hospitals lose money on medicaid/medicare patients because of the pitiful reimbursements, and now the government wants to decrease reimbursements even more. Temporarily, it will seem like they are spending less on healthcare, but the situation will just get worse as hospitals lose more money. I see the government as a struggling restaurant who loses money year after year, and it doesn't look into how to resolve some of the fundamental problems but rather jack up the prices on the menu and cut corners on the food. In the long run, the government solutions will not work.
A lot of hospitals are mismanaged though. It's easy to blame it on illegals but I think that's just one part of the deeper issue of rising healthcare costs across the board and just plain bad management. Every time I go to a hospital I just see money seeping out of everywhere from the inept union-tied employees, redundancy, poor distribution of manpower, I could go on...it's a huge mess...
The government gives hospitals some money, but not nearly enough to cover the bills of the uninsured. That's a big part of the problem. I'm sure mismanagement has a hand as well. The Catholic church is not going to do anything to save it. They didn't do it with the former St. Vincent's Staten Island a few years ago. Someone else came in and bought it.
two of my good friends currently work there and my wife used to work there. its a shame because its an institution down in that area. i guess NYU is going to get flooded now?
Last edited by Viralmd; 02-08-2010 at 11:11 AM..
Reason: No soliciting - for anything
two of my good friends currently work there and my wife used to work there. its a shame because its an institution down in that area. i guess NYU is going to get flooded now?
NYU Medical Center is nowhere near St. Vincent's. It's just about alone on the lower WEST side. Further downtown is New York-Downtown (formerly Beekman Downtown)...but on the West Side there's St. Clare's (a hospital that fills me with trepidation).
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How they could have allowed the situation to get so bad? 
