After a rough year marked by heavy spending, sagging revenues and a $10 million line of credit backed by hospital accounts receivables and property, the interim MedWest-Haywood president said he is “on the edge of optimism” that the hospital has turned the corner.
John Young, vice president for the western division of Carolinas HealthCare System, and interim MedWest-Haywood president, said the hospital is working its way through the issues that led to liquidity problems, including right-sizing staff and getting the payment issues resolved after a computer conversion.
“I think the real issue on the Haywood side was the computer conversion, which slowed down bills,” he said. “It was a huge capital expense, but it is a non-repeating one. Our accounts receivable are back to where they were ...