concernedstudent
10-13-2004, 12:17 AM
Here is an article about the hospital that works with Spartan students. Please continue to support the hospital since they generously allow us to do our clinical rotations there.
Struggling hospital files for bankruptcy protection
Megan Woolhouse
Southwest Hospital and Medical Center filed for Chapter 11 bankruptcy on Sept. 10 and named a new chief restructuring officer.
Ron Weitz has taken over as the new temporary chief executive at the 125-bed hospital, located at 501 Fairburn Road in southwest Atlanta.
He replaces Marie Cameron, who had been CEO of the financially strained hospital for nine years. Cameron vacated the position two months ago after the hospital's board of trustees failed to renew her contract.
Weitz works for Kurron Shares of America Inc., a health-care restructuring firm. He took control of day-to-day operations at the hospital on Sept. 10.
Through Kurron, Weitz was also involved in the restructuring of South Fulton Medical Center when that hospital filed for Chapter 11 bankruptcy in 2001. Kurron helped staunch losses of more than $1 million a month at South Fulton Medical Center, and the hospital was later bought by Tenet Healthcare Corp.
Hospital officials at Southwest wouldn't mind seeing a similar turnaround. The hospital has $25 million in debt, according to Johnnie L. Clark, chairman of Southwest's board of trustees, and that figure could rise as Kurron conducts its financial review. The bankruptcy filing came when creditors took action against the hospital for lack of payment, she said.
Clark said about 70 percent of its patients are indigent and that the hospital offered about $7 million in uncompensated care last year. The hospital received only $1.2 million from the Indigent Care Trust Fund, a state fund that funnels matching federal monies to hospitals in need.
"You wonder how we've been able to keep our doors open this long," Clark said
Struggling hospital files for bankruptcy protection
Megan Woolhouse
Southwest Hospital and Medical Center filed for Chapter 11 bankruptcy on Sept. 10 and named a new chief restructuring officer.
Ron Weitz has taken over as the new temporary chief executive at the 125-bed hospital, located at 501 Fairburn Road in southwest Atlanta.
He replaces Marie Cameron, who had been CEO of the financially strained hospital for nine years. Cameron vacated the position two months ago after the hospital's board of trustees failed to renew her contract.
Weitz works for Kurron Shares of America Inc., a health-care restructuring firm. He took control of day-to-day operations at the hospital on Sept. 10.
Through Kurron, Weitz was also involved in the restructuring of South Fulton Medical Center when that hospital filed for Chapter 11 bankruptcy in 2001. Kurron helped staunch losses of more than $1 million a month at South Fulton Medical Center, and the hospital was later bought by Tenet Healthcare Corp.
Hospital officials at Southwest wouldn't mind seeing a similar turnaround. The hospital has $25 million in debt, according to Johnnie L. Clark, chairman of Southwest's board of trustees, and that figure could rise as Kurron conducts its financial review. The bankruptcy filing came when creditors took action against the hospital for lack of payment, she said.
Clark said about 70 percent of its patients are indigent and that the hospital offered about $7 million in uncompensated care last year. The hospital received only $1.2 million from the Indigent Care Trust Fund, a state fund that funnels matching federal monies to hospitals in need.
"You wonder how we've been able to keep our doors open this long," Clark said