Newly incorporated into the Bankruptcy Code[2] as part of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA),
Health Care Committee
Committees
One of the goals of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) is to provide greater protections to patients in health care business bankruptcies. See Pub.L. No. 109-8. To that end, new Bankruptcy Code provisions have been enacted to specifically address issues that arise in health care business bankruptcies.
Sicko, the need for improvement was apparent. Costs had spiraled out of control, quality of care was inconsistent and health care providers faced daunting operational and financial challenges.
The 2005 amendments to the Bankruptcy Code have been the source of much controversy. The “patient care ombudsman,” a new position created in health care bankruptcies, however, is one addition that has received little attention in the press. Congress added the position in the newly-codified §333 of the Code.
New Jersey’s hospitals, like acute care centers in many states, are facing an increasingly difficult future. This is especially true for the state’s urban hospitals, where the payor mix is skewed toward charity care patients instead of those who are fully insured.
The Berger Commission report will change New York’s health care system and create an environment ripe with opportunities for restructuring professionals to assist boards and management teams in the following areas:
Strategy: Evaluate M&A and combination opportunities
A significant portion of the revenue of many health care providers is dependent upon payments made by governmental health care programs such as Medicare and Medicaid.
Sales of debtors’ assets in bankruptcy proceedings are quite common, either as part of a plan of reorganization or liquidation or pursuant to Bankruptcy Code §363. The Bankruptcy Code and the Federal Rules of Bankruptcy Procedure provide that a sale of a debtor’s assets occurs after notice to all creditors and an opportunity for a hearing.
Much of the commentary on the pending bankruptcy legislation has focused on consumer bankruptcies. However, several provisions of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, S. 256 (the “Act”), are specifically targeted to health care bankruptcies.
Intrepid U.S.A. Inc. and its affiliates operate as home health care providers and nurse and medical staffing providers through approximately 5,766 employees in 100 locations in 31 states, primarily in the Midwest, South and Southeastern United States. Intrepid serves the elderly, homebound, disabled and other disadvantaged individuals, providing in-home nurses, therapists and administrators.
Mr. Brian Bonaviri
Co-Chair
MERU
Charlotte, NC
(617) 290-2449
Co-Chair
MERU
Charlotte, NC
(617) 290-2449
Ms. Cynthia Romano
Co-Chair
FTI Consulting, Inc.
Palm Beach Gardens, FL
(617) 970-7383
Co-Chair
FTI Consulting, Inc.
Palm Beach Gardens, FL
(617) 970-7383
Ms. Samantha Ruben
Communications Manager
Dentons, Associate
Chicago, Illinois, USA, IL
(847) 790-6473
Communications Manager
Dentons, Associate
Chicago, Illinois, USA, IL
(847) 790-6473
Mr. Robert M. Schechter
Education Director
Porzio, Bromberg & Newman, P.C.
Morristown, NJ
(973) 889-4127
Education Director
Porzio, Bromberg & Newman, P.C.
Morristown, NJ
(973) 889-4127
Mr. Jason M. Reed
Membership Relations Director
Maslon LLP
Minneapolis, MN
(612) 672-8301
Membership Relations Director
Maslon LLP
Minneapolis, MN
(612) 672-8301
Ms. Kathleen Allare
Newsletter Editor
Perkins Coie LLP
Chicago, IL
(602) 909-4424
Newsletter Editor
Perkins Coie LLP
Chicago, IL
(602) 909-4424
Ms. Clare Moylan
Special Projects Leader
Gibbins Advisors
Nashville, TN
(615) 696-6556
Special Projects Leader
Gibbins Advisors
Nashville, TN
(615) 696-6556