Valley General Hospital in Monroe, Wash., has struggled financially for years, and now a state auditor report has cast doubt on the 48-bed, county-owned hospital's ability to continue operating, according to a King 5 News report.
Valley General has lost more than $4 million annually for the past five years and closed its maternity and psychiatric units to reduce costs. In 2013, administrators had to take out a $500,000 loan, according to the report. Eric Jensen, the hospital's CEO, has said the hospital isn't financially healthy due to an increase in uninsured patients during and after the recession.
Last year, county voters agreed to triple their tax rate to 13 cents per $1,000 in property valuation toward Valley General, which hospital administrators expected would add $2.4 million each year to the hospital's balance sheet. Mr. Jensen believes the hospital still has a "bright future" and is working to strengthen its finances, according to the report. He has partnered with other providers to bring in more money. In December 2012, the hospital affiliated with EvergreenHealth in Kirkland, Wash. Mr. Jensen didn't mention if the hospital is pursuing further affiliations or a sale.
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