Palmetto General Hospital and Hialeah Hospital in South Florida are facing financial troubles due to the bankruptcy filing of Steward Health Care, a Texas-based company that owns several hospitals in the region. The company has stated that the bankruptcy is in the best interest of patients, physicians, employees, and communities due to challenges in the healthcare industry such as insufficient Medicare and Medicaid reimbursement and rising labor and medical supply costs.
In 2022, nurses at Florida Medical Center in Lauderdale Lakes protested due to the financial difficulties faced by Steward Health Care. The company has provided a link on their website with court filings and information related to the bankruptcy proceedings. Despite this, both Hialeah and Palmetto hospitals will continue to provide service during the restructuring process.
The Florida Agency for Health Care Administration also ensured that care at all Florida-based hospitals owned by Steward Health Care will remain consistent. The company has received $75 million in special funding to sustain patient care services and is seeking a bailout to overcome their financial challenges. The first federal hearing on the bankruptcy filing is scheduled for Tuesday.