Mt. Sinai Bankruptcy?

[LJL]

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Has anyone heard anything about Mt. Sinai's financial situation? I was accepted and planning to attend but I heard from an NYU student that the hospital went bankrupt a few years back. I feel like I would have heard something if this was a serious problem, but obviously it raised some concerns and I'd like to clarify. Thanks.

 

[GA_MDhopeful]

Has anyone heard anything about Mt. Sinai's financial situation? I was accepted and planning to attend but I heard from an NYU student that the hospital went bankrupt a few years back. I feel like I would have heard something if this was a serious problem, but obviously it raised some concerns and I'd like to clarify. Thanks.

This came up at my interview when I was talking with some current students. The gist I got was that a few hospitals in the NY area were dealing with some financial issues, but that Mt. Sinai was NOT one of them and that we had NOTHING to worry about regarding the future of the hospital or the med school....

I think maybe the issue was not with the Sinai hospital itself but one or two of the clinical affiliates of the school?

 

[amojan99]

According to the last Crain's Business Review, NYU and Mt. Sinai completed their seperation and are now once again seperate institutions. They both carry a combined $400 million + debt, but they've structured their payments so they wont affect their finances that much. NYU turned a $40 million profit, while Mt. Sinai was about that much in the red. But then again, a lot of hospitals in NYC operate in the red. I wouldnt worry much, its an academic medical center, no way they'll close down and it shouldnt affect teaching or patient care much.

 

[LJL]

According to the last Crain's Business Review, NYU and Mt. Sinai completed their seperation and are now once again seperate institutions. They both carry a combined $400 million + debt, but they've structured their payments so they wont affect their finances that much. NYU turned a $40 million profit, while Mt. Sinai was about that much in the red. But then again, a lot of hospitals in NYC operate in the red. I wouldnt worry much, its an academic medical center, no way they'll close down and it shouldnt affect teaching or patient care much.

Great, thanks for the info. In the red is one thing, bankruptcy is another.