Consumers assail Allegheny's bankruptcy filing
Article Abstract:
Allegheny health system's Chapter 11 bankruptcy filing is being questioned by members of the Coalition for Patients Not Profits, who claim that the filing is simply a means to elude Pennsylvania's standard regulatory procedures for the divestiture of a nonprofit group's holdings to a for-profit entity. Coalition members have asked State Attorney General Mike Fisher to intercede in Allegheny's plan to sell nine of its hospitals to for-profit concern, Vanguard Healthy Systems Inc. of Nashville, TN. They are also asking the attorney general to prevent community assets, such as individual donations and benefits, from being used to pay for debts owned to creditors.
Comment:
PA: Allegheny health system's Chapter 11 bankruptcy filing is being questioned by members of Coalition for Patients Not Profits
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1998
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Many doctors look for escapes from Allegheny
Article Abstract:
Many physicians at Allegheny health system are already looking for other positions at other companies as the network prepares for bankruptcy filing. The overall Allegheny network lost almost $1 million a day during the fiscal year that ended Jun. 30, 1998. The financial problems were partly due to the premium prices which the network paid to several physician practices it bought since 1991. Meanwhile, according to some sources, Vanguard Health Sytems Inc. of Nashville, TN, has offered to acquire all nine Allegheny hospitals in Philadelphia, PA.
Comment:
PA: Many physicians at Allegheny health system are already looking for other positions at other companies
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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