Saint Francis Hospital Files Chapter 11 Bankruptcy

[RWC130 594]

Saint Francis Hospital - Poughkeepsie, NY

Debt: $50 million

When Art Nizza came on board in August as Saint Francis Hospital’s chief executive officer, he was aware the Poughkeepsie hospital had problems implementing its new computerized billing system.

The way the hospital had been using the new system had created what administrators believed was a financial “blip,” he said.

What was not clear to anyone was that the blip had metastasized, and had set into motion an unrecoverable cascade of financial shortfalls that ultimately led the hospital to file for Chapter 11 bankruptcy protection Tuesday.

LaGrange-based Health Quest has announced its intention to acquire Town of Poughkeepsie’s Saint Francis Hospital and Health Centers for $40 million after it emerges from bankruptcy protection.

Credit: http://www.poughkeepsiejournal.com/article/20131218/NEWS01/312180041/Saint-Francis-debt-50-million

[EMTF469 9]

It saddens me that this could happen in the high tech computerized world we live in. The old addage that a computer is only as good as the person who programs and runs it, is so true. Did the hospital management and software provider think that training on the system wasn't necessary for those who had the responsibility to operate it? My only hope is that is does not cost my region the option of a level 2 trauma center. Having St Francis to handle many of our patients who do not need to be flown to Westchester MC is great for the families of those patients. From our region it is much easier for family members to visit the patient at St. Francis than getting lost in cyberspace trying to get to Westchester.

[x635 4,066]

Looks like WMC is interested in buying St Francis....

http://www.lohud.com/article/20140110/NEWS02/301100047/Westchester-Medical-Center-Lawrence-Hospital-seek-consolidation-deals?nclick_check=1

[BM234 2]

Both Healthquest and WMC have bid on the assets to SFH. They vote Monday night.