SC hospital near bankruptcy

Thursday, May 1, 2014 9:23 AM
Last updated 8:23 PM
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SUMTER, S.C. — A Sumter hospital facing a $240 million judgment against it could file for bankruptcy as soon as this month.

The Sumter Item reports that trustees told Tuomey Healthcare System CEO Michael Schwartz on Monday he could pursue Chapter 11 bankruptcy if needed.

A jury ruled last year Tuomey made more than 21,000 false Medicare claims from 2005 to 2009. The hospital was ordered to pay almost $240 million in reimbursement and fines.

A South Carolina federal judge has ruled Tuomey must set aside $70 million to continue its appeal.

Tuomey is appealing the ruling, saying it would have to close if it had to pay the full amount. The hospital has also asked the 4th U.S. Circuit Court of Appeals to lower the amount it must keep in reserves.

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Little Lamb
44874
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Little Lamb 05/01/14 - 09:53 am
2
2
Shut Down

The best thing for society would be for this facility to shut down.

InChristLove
22452
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InChristLove 05/01/14 - 12:14 pm
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Negative Little

Negative Little Lamb......this is the only hospital in Sumter. People would have to drive more than 30 mins to Clarendon, Manning or close to 45 mins to Columbia.

Right on
176
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Right on 05/01/14 - 04:17 pm
0
0
maybe they will file

maybe they will file bankruptcy and then buy the assets back for fifty cents on the dollar. This is the American Way.

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