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Officials seek other options
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STAFF PHOTO BY KEVIN GLYNN
Pascack Valley Hospital is scheduled to close on Nov. 21.
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The banner hanging over Kinderkamack Road in Westwood sums up the outcry of community leaders, hospital employees, and
Pascack
Valley residents: “We Need a Hospital.”
As the clock ticks down to the Nov. 21 closing date of Pascack Valley Hospital (PVH), the efforts of local residents to save the facility have shifted into high gear. Residents packed the Westwood Council Chambers at last week’s public meeting, pleading with borough and state officials to step in and find a way to keep the bankrupt facility open.
It was at the meeting that the banner, which also lists the phone number for the governor’s office, was donated. Residents hope that the potential thousands of phone calls to Gov. Jon Corzine would persuade his administration to allot funds for the dying hospital, which declared Chapter 11 bankruptcy in September.
While there is no evidence that Corzine will veer away from his policy of only providing state funding to hospitals in low-income areas, recent local developments have offered a shard of hope to the residents of the
Pascack
Valley who fear for the worst if PVH shutters its doors permanently.
Westwood Mayor Thomas Wanner has, independently of the council and on his own dollar, hired a bankruptcy attorney to investigate opportunities in which the hospital might be salvaged.
Bankruptcy hearings, which will take place in early 2008, will result in the elimination of roughly 80 percent of the hospital’s debt, which tops $100 million.
One possible outcome of the bankruptcy hearings and auction would be a partial takeover by one of the nearby hospitals. Hackensack University Medical Center (HUMC) has already submitted an application to the state Department of Health to operate the emergency room at PVH.
PVH would retain a full emergency room with partial staff in tertiary departments, such as x-ray and records.
Englewood
Hospital has also expressed interest in a similar venture. Nothing will be decided, however, until the bankruptcy hearings are complete.
Though residents have expressed some relief in the possibility of a functional emergency room, the limited nature of the takeover worried others.
State Senator Gerald Cardinale (R – Cresskill) interpreted the HUMC proposal as nothing more than a “glorified emergency room” that would serve as a “feeder system for
Hackensack .” A full-functioning hospital would be a far more attractive option.
Last week, Cardinale facilitated a meeting between PVH doctors and the IQ Business Group, a national company that specializes in rehabilitating failing hospitals. Part of the rehabilitation process involves selling a portion of the ownership to the hospital’s doctors.
IQ had approached Cardinale, expressing interest in resuscitating PVH. The takeover would be contingent on the completion of a business plan analysis before bidding at the bankruptcy auction, as well as a commitment from at least 20 doctors. After the presentation, Cardinale said, at least 40 doctors expressed interest in investing their personal funds in saving the hospital.
Because of PVH’s good economic location and the fact that it does not receive much charity care or Medicaid, said Cardinale, it is an attractive option for a takeover. “It seems to be a reasonable approach,” he stated.
Besides finding the doctors willing to put up the money, the remaining obstacle for takeover is a piece of legislation by State Senator Richard Codey (D –
West Orange ). The “Codey Bill” effectively prevents doctors from owning a hospital.
Cardinale said that he believed that to be a misinterpretation of the bill and had contacted the governor’s office to clarify it. He reported that the governor’s staff is currently looking into how the bill should be interpreted; meanwhile, his staff has drafted bills that would clarify the intent of the Codey Bill.
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