Norman (Okla.) Regional Health System has released a notice saying insurance will cover losses associated with Moore (Okla.) Medical Center, the 45-bed hospital that is part of Norman Regional and was leveled by an EF5 tornado in May.
The massive storm ripped through Moore, Okla., May 20. Moore Medical Center sustained damage that no longer makes it operational, but all patients and staff have been moved to other locations within Norman Regional.
Insurance will cover expenses related to building, equipment, debris removal, emergency evacuations and other items, officials said. Norman Regional will also be compensated for the loss of revenue. Moore Medical Center accounts for roughly 10 percent of Norman Regional's gross revenue.
No timetable has been set for when Moore Medical Center will be rebuilt.
More Articles on Hospital Finance:
4 Reasons Why Sustainability Investments Are Vital to Hospital Finance Strategies
11 Statistics on Hospital Debt-to-Capitalization Ratios
9 Top Academic Medical Centers: Where Their Cash Levels Are Today