NIFA consultants: NuHealth deficit could hit $197 million in ’21

The public benefit corporation that runs Nassau University Medical Center could run a deficit of up to $197 million next year without significant outside subsidies, and must change the way it does business in order to survive, a consultant for the hospital’s financial control board has found.

NuHealth, which runs Nassau University Medical Center in East Meadow, faces large annual deficits for the foreseeable future, and “cannot continue operating as it currently does and expect to grow its way out of its financial problems,” consultant Alvarez & Marsal, of Manhattan, said in a 38-page report.

The report, commissioned by the Nassau Interim Finance Authority, a state board that controls NuHealth’s finances, said NuHealth faces an operating loss of $112 million to $197 million in 2021.

“Sometimes you find a place that has been so undermanaged, that when you do a productivity report, you are able to close the gap. In

Read More