Is GEORGETOWN going under?

[INeedAdvice]

Forgive me if this has already been discussed, but I've heard/read rumors of Georgetown having financial problems.

Is that all it is...just a rumor?? If not, then what is the cause of the problem?

Any input from anyone who knows anything on this subject?

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[Diogenes]

The hospital was losing lots of money so they sold it (with lots of strings attached) to MedStar or some such for-profit company. Basically by putting their hospital in a larger network, they were able to attract more patients and therefore more revenue, plus the larger company can better make deals with insurance providers about getting reimbursements, or something like that. I don't really know the details, except that one of their deans told me on the day I interviewed that the hospital will break even this year and will probably turn a profit next year. But the school still retains a significant measure of control over the hospital, so no need to worry about that.

 

[pipper]

A couple of years ago, GT was really struggling to stay a float. The hospital was losing money each year due to the area where GT is located. Most of the people in the area are wealthy older folk and there are a ton of other hospitals in the area. They recently merged with MedStar which is a managed care org. Now the hospital is financially secure and GT has greatly diversified its patient base. So, the med school does not actually own all its hospital, but it is still a teaching hospital.