Oklahoma hospital on brink of closure gets taxpayer infusion to make payroll

Cash-strapped Pauls Valley (Okla.) General Hospital recently received a financial lifeline, according to News 4.

The hospital was unable to pay its employees and was on the verge of shutting down when the Pauls Valley Hospital Authority approved a one-time cash influx from the city Sept. 5. The $361,000 infusion will help the hospital make payroll and temporarily avoid closure, according to the report.

Officials hope the funding will keep the hospital afloat until new management can turn around the facility's finances.

"We're going to increase the services we're offering the local community and we're going to be more proactive about the healthcare we're offering, which will drive appropriate revenue into the hospital," said Frank Avignone, CEO of Tulsa-based Alliance Health Partners Oklahoma, which took over management of the hospital in July.

If Pauls Valley General Hospital closed, the nearest hospital for local residents would be about a 30-minute drive away, according to the report.

More articles on healthcare finance:

Moody's: Margin contraction puts nonprofit hospitals on unsustainable path
Tennessee health system lands in bankruptcy after acquiring 3 hospitals from CHS
Financial updates from Kaiser, Mayo, UPMC + 6 other systems

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars