A Hospital Billed as Treatment Center of the Future Shutters After Short Three-Year Stint
Walnut Hill Medical Center closed Friday after having opened its doors with a $100.0-million price tag back in 2014. It was dubbed “the dawn of a new era in health care delivery” by its owners.
It seems that Walnut Medical Center was unable to live up to its lofty claims, falling short of its promises and becoming another medical center in the U.S. to close its doors due to financial troubles.
” …On and after June 1, 2017, we will no longer operate the hospital and will no longer participate in the Medicare Program. The Medicare provider agreement between the hospital and the Secretary of Health and Human Services terminated on June 1, 2017 in accordance with the provisions of the Social Security Act,” read the statement provided by the company at close. (Source: “Dallas’ Walnut Hill Medical Center confirms its abrupt closure,” Dallas News, June 9, 2017.)
The hospital claimed it would employ 220 credentialed doctors and about 150 nurses. The closing down of the hospital will likely mean that these workers will be jobless, although layoff numbers have yet to be released.
The Walnut Hill Medical Center joins a long list of healthcare-based companies that have trouble keeping open, as financial pressures and lack of a patient base—among other factors—have proved to be the killing blows for these organizations in the hospital space.
While being on the smaller side when compared to larger hospitals in some of America’s bigger cities, the problems faced by the now-defunct Walnut Hill Medical Center have been felt all across the country, with companies finding it difficult to cope with the changing healthcare and economic landscape, especially as the debate rages on in national Congress over whether or not to repeal and replace the Affordable Care Act (ACA).
The current budget proposal by President Donald Trump is looking to cut the ACA, otherwise known as Obamacare, and replace it with systems similar to the situation before the ACA came into effect.
As the political and financial sides combine to put pressure on these institutions, expect to see more bankrupt hospitals as we move forward without concrete support in the healthcare business.