The New Jersey Department of Health has warned lawmakers that CarePoint Health’s Hoboken University Medical Center has been operating at a loss this year and has less than a month of cash on hand.
State officials said HUMC is “in financial distress or at risk of financial distress” after evaluating several financial indicators that are part of the department of health’s early warning system, according to an Oct. 20 letter to city and state lawmakers. The financial indicators include days of cash on hand, average daily census, days in accounts receivable, average payment period and operating margin, Becker’s reports. Read more.
