The future of St. Joseph Medical Center in Towson, Md., is becoming increasingly more uncertain as hundreds of lawsuits and decreasing revenue are bogging down the hospital's operations, according to a Baltimore Sun report.
Patient admissions have fallen from 35,486 in 2009 to 26,942 in 2011. Additionally, St. Joseph's net patient revenue has gone from $361 million to $299 million over the same period, according to the report.
St. Joseph has entertained five hospitals and health systems for a partnership, but if one of the potential buyers does not pick up the ailing hospital, it could be forced to shut down its 263-bed inpatient services, according to the report. If this occurred, St. Joseph would only operate outpatient services such as physicians' offices and ambulatory surgical centers.
St. Joseph's has also undergone several lawsuits over the past few years. The hospital paid $22 million to settle allegations of kickbacks to cardiologists in 2010. Additionally, Mark Midei, MD, a former cardiologist at St. Joseph's, had his medical license revoked in July after roughly 600 patients were notified that they might have undergone unnecessary heart stent procedures. Several of those patients have sued Dr. Midei and the hospital.
Related Articles on St. Joseph Medical Center:
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Maryland's St. Joseph Medical Center Looks for Partner After Stent Controversy