Latest news with #JacksonHospital
Yahoo
04-03-2025
- Business
- Yahoo
Jackson Hospital announces new steps since filing for bankruptcy
Jackson Hospital & Clinic has announced some of its first steps since filing for Chapter 11 bankruptcy proceedings — new leadership in the form of a chief operating officer and chief information officer. Gina Anderson — who was previously the interim chief operating officer as well as chief nursing officer and vice president of patient care services at Jackson Hospital & Clinic — will be the hospital's permanent chief operating officer, and Maureen Gaffney will be the hospital's chief information officer. Anderson's role oversees all clinical operations for the hospital and "a wide array" of non-clinical operations, as well as developing long- and short-term plans during the hospital's restructuring. The hospital said this new leadership is critical to their "strategic planning for improved care delivery, technology-drive growth, and employee empowerment" as they continue restructuring. After defaulting on $60 million in bonds back in September — which came with S&P Global Ratings, a credit rating agency, lowering the hospital's rating to 'D,' indicating default, and CreditWatch removing the hospital's rating entirely — Jackson Hospital has been in financial dire straits. Their plan to get back on track included introducing a new interim CEO, Ronald Dreskin, and a chief restructuring officer, Allen Wilen, to rework their financing and daily operations in a way that is more efficient. More: Jackson Hospital files for Chapter 11 bankruptcy proceedings The hospital has since pursued several measures to keep itself afloat, including asking the City of Montgomery City to give them a $20.5 million guarantee on a loan that they "need to take until a final solution is made, which would be a permanent financial restructuring" after similar talks with Montgomery County failed. Wilen made it clear at the Jan. 31 Montgomery City Council meeting that the hospital's ability to remain open — even its ability to make its payroll for its employees this week — hinged on this loan. Despite this, the city council was not keen on accepting the conditions that Wilen laid out without further research and consultation with an attorney, which urged the hospital to file for Chapter 11 bankruptcy proceedings in early February. Sarah Clifton covers business for the Montgomery Advertiser. You can reach her at sclifton@ or follow her on X @sarahgclifton. This article originally appeared on Montgomery Advertiser: Jackson Hospital appoints new leadership amid restructuring Sign in to access your portfolio
Yahoo
06-02-2025
- Health
- Yahoo
Alabama lawmakers talk Medicaid expansion
MONTGOMERY, Ala. (WIAT) — Some lawmakers are concerned about rural healthcare in Alabama after Jackson Hospital in Montgomery filed for bankruptcy earlier in the week. In a statement, Jackson Hosptial said a bankruptcy will allow it to restructure, yet some lawmakers see it as a warning sign. 'I think Jackson Hospital, their bankruptcy unfortunately may be the tip of the iceberg,' said Dr. Don Williamson, president of the Alabama Hospital Association. 'The same factors that were operating for them have been operating in rural hospitals across the state.' Williamson said facilities are dealing with low reimbursement rates and uninsured patients. The answer, he explained, is expanding Medicaid. 'Those beds are gone for everybody. They're not just gone for Medicaid patients or the uninsured,' Williamson said. 'They're gone for Blue Cross patients. They're gone for United patients. They're gone for everybody.' JPMorganChase to triple number of Alabama branches Williamson said hospital closures affect everyone. State Sen. Bobby Singleton (D-Greensboro) agreed. He said Medicaid expansion is greatly needed. 'We need something that aggressive,' Singleton said. 'So we need to do something in the state. I don't care if you call it Obamacare. I don't care if you call it 'Kay Care' but just need some care.' State Rep. Chris Sells (R-Greenville), however, explained Alabama is one of the lowest paid states when it comes to Medicare reimbursements. He said state dollars should be used wisely. 'The state budgets are still good, but they're beginning to slow down, and we have to watch carefully what we do with our money,' Sells said. 'Some states have a billion-dollar deficit. In Alabama, we don't have that. So we're working hard to maintain that.' Sells explained he would be open to Medicaid expansion, but that's not the only answer. 'I do know that Medicaid expansion would not solve a lot of our problems,' Sells said. 'It will fill a small gap and that will help these hospitals some. But it will not be enough, I don't think, to really make a huge difference.' Jackson Hospital said the bankruptcy gives it breathing room to explore alternatives and ensure its future. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
