With its patient census shrinking after news of a Medicare audit, San Diego Hospice filed for chapter 11 protection yesterday, the San Diego Union-Tribune reported today. San Diego Hospice’s financial problems began in mid-November, when it revealed that it faced the possibility of refunding millions to Medicare because its admissions policies did not follow government guidelines closely enough. The hospice, which potentially owes millions to the government, enacted an austerity plan in late November, laying off more than 260 employees and closing its 24-bed hospital in Hillcrest. Read more:
http://www.utsandiego.com/news/2013/feb/04/hospice-files-for-bankruptcy/
For more on financial distress in the health care industry, be sure to pick up a copy of the ABI Health Care Insolvency Manual, Third Edition available now in the ABI Bookstore.