One of the biggest hospitals in Brooklyn, Maimonides Medical Center, is in danger of collapse after posting a loss of $145 million last year.
One of the biggest hospitals in Brooklyn, Maimonides Medical Center, is in danger of collapse after posting a loss of $145 million last year and defaulting on some of its debt obligations, annual financial filings obtained by The Post show.
“The Medical Center’s results of operations have been negatively impacted by the persistent pressure of healthcare payment reforms enacted in recent years as well as changing patterns of healthcare utilization and the COVID-19 pandemic,” the report states. The torrent of red ink comes as the hospital’s management and southern Brooklyn power brokers are engaged in a bitter feud over the complex’s future amid mounting complaints about poor care, dilapidated conditions and excessive executive compensation.in just one year, from $1.8 million to $3.2 million in 2020 — even as the financial report obtained by The Post shows the hospital posted a overall $16 million loss for the year.
“This revelation by one of America’s top accounting firms that Maimonides is on the verge of bankruptcy is shocking but not surprising considering the over 2,000 complaints we’ve received,” said Mendy Reiner, who co-chairs the coalition.Reiner said state officials should put Northwell Health — one of the state’s largest hospital networks, which is based on Long Island — in charge of managing Maimonides.
That is compounded by its status as one of New York City’s last remaining major hospitals not owned or tightly integrated into a major system, like NYU-Langone or Columbia-Presbyterian.
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