Resuming Jamestown (Tenn.) Regional Medical Center is central to the financial success of Rennova Health, however is almost impossible offered its existing financial state, the hospital chains CEO told News10..
Rennova Health CEO Seamus Lagan stated that Rennovas company design depends on the shared resources and finances of a minimum of three health centers. It owns 2 other hospitals in Tennessee. In this regard, there is a severe monetary incentive to reopen the Jamestown facility, but Rennova doesnt have the millions of dollars required to do so, Mr. Lagan stated..
Rennova Health CEO Seamus Lagan said that Rennovas business model depends on the shared resources and finances of at least 3 healthcare facilities. It owns 2 other healthcare facilities in Tennessee. We do see chance for this company to be successful,” Mr. Langan informed News10.
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In the last two years, employees at Rennovas health centers said the company has regularly missed out on payroll and permitted materials to dwindle to harmful levels. Ultimately, Rennova closed the Jamestown center after regulators pulled its Medicare contract.
Alia Paavola –
Tuesday, September 22nd, 2020
In a June monetary filing, the health system stated it was more than $49 million in debt, and was investing about $2 for each $1 in revenue it generated..
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In spite of the monetary battles, Mr. Lagan said he is dedicated to making Rennova economically solvent..
” Its not because were stubborn or stupid. We do see chance for this company to be successful,” Mr. Langan informed News10. “There have been times that it would have been easier to toss the towel in.”.