Bell Hospital lost $7 million last fiscal year.
And if it can’t meet revenue targets set by the bank that financed the construction of the current Bell facility, the bank may take over the hospital.
That would be Charter One Bank.
Hospital officials say they received the financial audit in October indicating the loss.
Most of it came from larger losses at the Bell Medical Clinic than expected.
The remainder came from write-offs of bad debt and billing for services that the hospital never collected.
Bell is making some cuts to get back on an even keel.
They’re changing insurance vendors, cutting salaries for administrators, cutting 6 administrative positions and making many other moves.
Bell has also eliminated 2 hourly positions.