Can Hospitals Bounce Back from Bankruptcy?

If hospitals are struggling financially and have to declare bankruptcy, is there a way out for them?  If these hospitals file Chapter 11 they have a chance to come out the other side with a renewed chance at making their facility work.  If they file Chapter 7, their assets will be liquidated and they will be shut down, with no chance at revitalization.

Physicians are a big part of keeping the hospital afloat, financially.  If the physicians leave the hospital, there is no one there to treat the patients.  So, even if patients come to be treated, they will not be served.  Physicians are the major source of income for hospitals.  “So far in 2010, nine hospitals have filed for bankruptcy.  Seven hospitals file for bankruptcy in 2009, according to Bankruptcy Creditors’ Service data.  For more information read this DOT Med News article, Special report: Financially sick hospital syndrome

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