Augie
The Fart Meister
Posts: 491
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Post by Augie on Sept 6, 2005 21:57:21 GMT
Hi folks,
Several weeks ago, another hospital system in New York City applied for bankruptcy protection. It is the St. Vincent's hospital system, which includes St. Vincent's hospital here in Staten Island, NY. The system has $1.1 billion in debt. Yes, that's BILLION (with a "B"). The Staten Island University Hospital (SIUH) system is the only other system here in SI. It also has a staggering amount of debt. It is about an ass-hair away from applying for bankruptcy protection also.
The federal government just isn't giving the Medcaid reimbursments it used to. The hospitals here in NYC are especially hard hit because so many people are on welfare (like myself). Hospitals here in NYC are filing for bankruptcy left and right. Every time you turn around, another hospital system here in NYC is filing for bankruptcy. Right now, about 60% (or more) of all the hospitals in NYC are operating in bankruptcy.
Many people know that I am a BIG supporter of national healthcare legislation (NHCL). All these bankruptcies are yet another reason why we should have NHCL.
Any thoughts?
Augie
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Augie
The Fart Meister
Posts: 491
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Post by Augie on Sept 27, 2005 20:04:46 GMT
Hi folks,
Just last week, I learned that St. Vincent's hospital in Staten Island is for sale. It needs $60 million in renovations because most of the wings date from the 1920's.
SIUH system wants to buy it, but this presents a problem. It will have a monopoly on hospitals in SI. A better idea would be to have NYC buy it. Staten Island is the only borough of NYC that doesn't have a public hospital (a "charity hospital"). The city is looking into this matter. Mayor Bloomberg seems to like the idea, so maybe it will come to fruition. This is a better idea because St. Vincent's, being a Catholic hospital, does a lot of charity work. They are on a "Catholic mission". They take any patient, regardless of whether or not they can pay. SIUH system does NOT do this. If SIUH system buys St. Vincent's, where would uninsured people go?
Any thoughts?
Augie
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