Independent financial experts will conduct comprehensive immediate review
CHICAGO, ILÂ â€“ Illinois Governor Quinn announced that the State of Illinois will provide temporary emergency assistance for Roseland Community Hospital to remain open in the community while it develops a long-term turnaround plan. Approximately $350,000 in temporary assistance will allow the hospital to continue to serve the community while developing this comprehensive plan for future stability.
â€œRoseland Community Hospital is an anchor in the community and we will do what we can to protect the patients and employees,â€ Governor Quinn said. â€œThis temporary relief will allow their doors to remain open and continue to provide critical care services. However, this is not a long-term solution. The hospital must take the necessary steps to develop a plan for a sustainable future.â€
As a condition of the stateâ€™s emergency assistance, independent financial experts will conduct a comprehensive review of the hospitalâ€™s budget, operations and finances.Â In addition, the hospital will select an independent chief restructuring officer to oversee the operations and development of the long-term plan.
Executives have not yet proposed a viable plan to properly run the hospital, which is essential to keep its doors open in the long-term. RoselandÂ Community Hospital is in deep debt and its leadership has serious, long-time management issues that must be addressed. The state of Illinois will continue to work with the hospital to identify potential partners and available resources within the law so they can develop a plan for long-term stability.
For two months Governor Quinnâ€™s top health care advisors have been meeting with the hospital and requesting critical information that would allow the state to consider emergency assistance. This week, the state of Illinois received that information. Due to Roselandâ€™s dire fiscal situation, the state of Illinois has also advanced all payments to the hospital for this fiscal year.