UMC’s CEO says hospital faces rough waters ahead
The financial woes of the El Paso Children’s Hospital is trickling over to its neighbor next door — University Medical Center.
In his weekly newsletter last week, UMC CEO and President Jim Valenti said the problems at the Children’s Hospital will negatively affect UMC’s bottom line.
El Paso Children’s owes UMC $68 million – millions more than originally reported.
Valenti says Children’s Hospital expects to be at least $16 million in the red this year – meaning it won’t likely pay its debt to UMC anytime soon.
But there’s another problem for UMC.
The state’s Health and Human Services Department is behind in its reimbursements to Texas hospitals.
The agency reportedly owes UMC $ 42 million dollars.
Valenti says UMC faces some rough waters ahead as its board begins work on drafting next year’s budget.
