- Associated Press - Saturday, March 29, 2014

EL PASO, Texas (AP) - A West Texas children’s hospital that opened in 2012 is $59 million in debt and will work with another medical center to ease the deficit.

Officials with the El Paso Children’s Hospital will meet in April with University Medical Center executives to modify the terms of the debt, which comes due in September.

UMC spokeswoman Margaret Althoff-Olivas says the 2008 recession, federal changes in reimbursement payments and changes in the state’s Medicaid waiver program led to the hospital’s financial problems.

The El Paso Times reports (https://bit.ly/O7j2Ci ) the children’s hospital has repaid more than $33 million to UMC for start-up costs, leasing and contracted services.

Taxpayers in 2007 approved a $120 million bond to build the hospital. The 122-bed facility is about 60 percent occupied and shares space with UMC.

___

Information from: El Paso Times, https://www.elpasotimes.com

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide