Miami Hospital files for bankruptcy
Compliance Monitor, March 8, 2006
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Last year South Beach Community Hospital received word that it might be excluded from Medicare and Medicaid programs for failing to follow the terms of a corporate integrity agreement. Now the hospital has filed for bankruptcy, according to The South Florida Business Journal. The hospital, which was under new ownership for the past year, filed for Chapter 11 bankruptcy protection, discharged remaining patients and dismissed all employees.
Owners of the hospital said they might be looking to sell the hospital and if it can't be sold they will likely enter into Chapter 7 bankruptcy protection, which means the hospital will be permanently closed and its assets liquidated, the Journal reported.
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