Texas hospital in jeopardy after tax proposal fails

A proposal to create a taxing district for St. Mark's Medical Center in La Grange, Texas, which would have kept the hospital open for the foreseeable future, failed in a landslide vote on June 13, according to the Texas Observer.

The 65-bed hospital has a heavy debt load and has experienced a decline in patient volume, which has led to financial challenges. The proposed hospital district would have helped St. Mark's Medical Center stay afloat by taxing county homeowners and using those funds to pay for equipment, recruitment and other initiatives.

Without the taxing district, St. Mark's Medical Center is a step closer to financial collapse, according to the Texas Observer. If the hospital closes, local residents would have to travel at least 20 miles to receive emergency room care.

More articles on healthcare finance:

ProMedica's operating loss more than triples in Q1
Tennessee hospital abruptly closes
Washington hospital charged thousands of patients hidden ER fee, lawsuit claims

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

 

Featured Whitepapers

Featured Webinars