Pauls Valley Regional Medical Center in Oklahoma has hit a point where operations are almost literally day-to-day, and there is no revenue in sight to help keep the doors open, Inquisitr reported. Hospital CEO Frank Avignone said that they need to come up with about $500,000 to remain open before the week closes. He added that it is possible to convince some of the staff to stay on a day or two beyond running dry, but there is no guarantee of that. Avignone said that the hospital currently has $243,000 in the bank, which should be enough to keep their doors open until Tuesday, but Wednesday will be a great unknown. The $500,000 figure is based on what it will take to pay overdue costs for health benefits, and about half of that even before then to meet payroll. With few options available to raise a significant amount of money in a relatively short period of time, Avignone decided to try GoFundMe as a bit of a last-ditch effort to keep the hospital operational. The hospital’s problems began in 2013, when it was on the cusp of declaring for bankruptcy. NewLight Healthcare, a Texas-based company specializing in takeovers of distressed hospitals, stepped in to keep the doors open. The hospital then began incurring management fees for NewLight’s guidance in running the facility; the balance on those fees is now estimated to be about $2.3 million. Unable to meet the balloon and ongoing payments on demand made by NewLight, they began tapping the hospital’s revenue. In doing so, the hospital has been bled dry and is possibly in its last week of operation. It is estimated that the hospital will need $3 million by the end of the year to stay afloat. The GoFundMe page for the hospital currently shows that less than $3,600 of their $2 million goal has been reached.
