Financially Distressed Healthcare Facilities: Restructuring and Insolvency Options

Evaluating Bankruptcy and Other Alternatives While Preserving Quality of Care

Recording of a 90-minute CLE webinar with Q&A

This program is included with the Strafford CLE Pass. Click for more information.
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Conducted on Wednesday, November 16, 2011

Recorded event now available

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Course Materials

This CLE course will provide counsel to healthcare facilities with a review of restructuring options available to distressed facilities. The panel will also provide legal and business strategies for healthcare facility operations under pressure in the current economic environment.

Description

Hospitals and healthcare facilities are facing significant financial challenges driven by the continuing economic crisis, and many are weighing the options of debt restructuring, bankruptcy or closure. There has been a steady stream of providers filing for bankruptcy over the past year.

Distressed healthcare facilities must consider a number of unique issues that traditional businesses do not. Hospitals must take into account their tax status, regulatory requirements, quality of care obligations and charitable role when evaluating options.

Counsel to hospitals and healthcare facilities contemplating bankruptcy must also understand the relevant Bankruptcy Code provisions that impact healthcare businesses.

Listen as our panel of healthcare and restructuring attorneys examines how the continuing economic crisis is impacting hospital and healthcare facility operations and explains the restructuring alternatives available to facilities in distress. The panel will offer legal and business strategies for hospitals and healthcare facilities for navigating the current economic environment.

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Outline

  1. Distressed hospitals and healthcare facilities—current trends
  2. Weighing the options
    1. Negotiate restructuring plan with creditors, regulatory and financing authorities
    2. Strategic alliance or sale of the hospital
    3. Section 363 considerations
    4. Chapter 11 protection
    5. Closure
  3. Bankruptcy code’s treatment of healthcare businesses
    1. Patient care ombudsman
    2. Not-for-profit entities
    3. Participation in Medicare and other federal healthcare programs
  4. Strategies for hospitals and healthcare facilities in distress
    1. Business strategies
    2. Legal/regulatory strategies

Benefits

The panel will review these and other key questions:

  • What are the business and legal options available to hospitals and healthcare providers currently facing significant financial distress?
  • What legal and business considerations should hospitals take into account when deciding whether to file for bankruptcy and navigating the bankruptcy process?
  • What are some strategies for healthcare facilities negotiating financial issues with creditors, regulators and the federal government?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Samuel R. Maizel
Samuel R. Maizel
Pachulski Stang Ziehl & Jones

His practice includes bankruptcy matters and financial restructuring in and out of court, with a focus on the...  |  Read More

Richard J. Zall
Richard J. Zall
Partner
Proskauer Rose

He counsels clients in the planning and execution of healthcare-related corporate transactions including mergers and...  |  Read More

Hector G. Calzada, Jr.
Hector G. Calzada, Jr.
Managing Director
Deloitte Corporate Finance

He is a member of the firm's Health Sciences & Government Industry Group. He has extensive experience advising...  |  Read More

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