Ask yourself this:
Why are nearly all of these for-sale and just-sold hospitals bankrupt, financially teetering and on the brink or walking wounded?
Is it like this in your area?
I can name only 2 hospitals that are healthy, booming and growing… not so coincidental that one is in a very lush and rich upscale town and the other one has never had a problem booming and growing. There are theories why, but I won’t get into that on this post.
We cannot blame this on charity care; every single one of these hospitals has been getting charity care for decades.
We cannot blame this on illegal immigrants. And we can’t blame this on lack of adequate health insurance.
So the deal is this:
Sell the hospital…
But do NOT send in an outside auditor to scrutinize the books from the last 10 years — nobody wants to find out WHY the hospital is bankrupt — it’s just Oh, we’ll just SELL it?
I suggest the last 10 years. All of the financial data has to be archived someplace.