Outside auditors are warning that Nassau University Medical Center in East Meadow, N.Y., may not survive after a budget deficit swelled by 60 percent in one year, according to a July 3 report in Newsday.
NuHealth, the entity that oversees Nassau University Medical Center, had a $102.3 million budget deficit in 2020, a 60 percent increase from 2019.
It is also the third year in a row that the annual audit of finances raised substantial doubt that the hospital could survive in its current state, according to the report.
The report said NuHealth "has experienced recurring operating losses, a working capital deficit ... and is dependent on the continuation of federal, state and local subsidies, certain of which have or are scheduled to end or be reduced," the audit reads, according to Newsday.
The release of the 2020 financial audit comes a little over a month after NuHealth Chair Robert Detor resigned from the board. In his decision to resign, Mr. Detor accused the hospital's governance of not making necessary changes at the financially struggling hospital.