Co-Sponsored by Wagner Finance Society and Wagner Health Alliance

Date: November 28, 2006
Time: 6:30PM
Location: Puck Building, Second Floor Conference Room [map] [directions]
RSVP: http://www.wagner.nyu.edu/events/bankruptcy.php

Over the past five years, the majority of New York hospitals have faced razor-thin profit margins. As hospitals encounter lower reimbursement rates, heavy debts, mounting pressure to invest in new technology, and a growing number of uninsured patients, they have found it exceedingly difficult to pay their financial obligations as they come due.

Some health care organizations have declared bankruptcy to avoid lawsuits and collection actions from creditors. Bankruptcy actions left those hospitals with unpaid bonds, securities, and other debt, but also afforded them the opportunity to regroup financially.

A number of other institutions have looked to creative solutions to keep their doors open and turn around their dire financial situation. These solutions have included developing partnerships with other hospitals and opening specialized units, rather than engaging in a medical arms race.

With bankruptcy occurring more frequently in New York , what does it mean for the health care industry in this region? What changes occur at hospitals that have declared bankruptcy and how have some hospitals turned around their finances? What has been the impact of these bankruptcies on New York State financing and unsecured creditors?

Join us for a spirited discussion of the specific experience of Brooklyn Hospital Center and the growing use of bankruptcy by New York health care facilities, in general, its impact on the industry, and how hospitals have adjusted in light of a bankruptcy.