Rhode Island AG Rejects Turnaround Plan for Safety-Net Hospitals
Rhode Island Attorney General Peter Neronha's office rejected a financial turnaround plan submitted by CharterCARE Health of Rhode Island, the new owner of Roger Williams Medical Center and Our Lady of Fatima Hospital, saying it relied on unrealistic assumptions. The plan was required under conditions imposed when the hospitals' sale to nonprofit owner The Centurion Foundation closed in March. Neronha gave the owners until October 2 to submit a revised plan, warning the hospitals could be at risk of closing by year's end despite an $85 million cash infusion required at sale closing. Both hospitals serve large shares of Medicaid and Medicare patients and face pressure from new federal Medicaid eligibility requirements and funding cuts expected to increase uncompensated care.
State Medicaid officials and safety-net providers face a near-term risk of hospital closures that would eliminate access for high-Medicaid-share patient populations already threatened by federal eligibility and funding cuts.
Finance
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