Financial woes that have long plagued Prince George’s Hospital may soon come to an end through a recently announced agreement between Governor Martin O’Malley, Prince George’s County Executive Jack Johnson and the Prince George’s County Council, according to county officials.
For years, the heavily used hospital, which sees some 180,000 patients a year, has been cash-strapped mainly because many of those seeking treatment lack in health insurance.
Prince George's Hospital Center Photo: msa.md.gov
Under the deal, which is expected to be finalized in the next 30 days, about $150 million from the county and the state will be paid to the buyer of the county health system over the next five years starting in 2011.
County officials said the cash infusion will be split evenly between Prince George’s and the state with each entity contributing $75 million. Additionally, the state is slated to payout another $24 million in capital support for the endeavor.
In June, Gov. O’Malley swore in a seven-member board that makes up the Prince George’s Hospital Authority. The board was charged with locating a new owner for the Prince George’s Hospital System, currently operated by Dimensions Healthcare System. The Authority will solicit bids from healthcare companies interested in taking over the system. The bidding process is required to be completed prior to the 2009 Legislative Session, county officials said.
--PGS Staff
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