Hospital attempts to recoup millions owed

~~Adz:Left~~St. Croix, USVI – Luis Hospital officials announced this week that they have approved a contract with a private collection agency to go after millions of dollars worth of unpaid bills due the medical institution.

The Hospital’s Chief Financial Officer said that the Board members gave the approval nod to a 5-year contract with ASI Collections who will receive 25-26% of monies collected. The collection agency also has the authority to take delinquent payers to court in efforts to collect as much revenue as possible.

According to VI Daily News, Luis Hospital Chief Operating Officer, Peter Abrahams said, “The hospital has looked into ways to cut its expenditures…”

The CFO for the hospital added that the hospital has collected $52 million in the fiscal year ending this past August. This revenue represented an approximate 3% increase in collection from the previous fiscal term. It was however noted that hospital expenditure totaled $55 million, resulting in a $3 million deficit at the end of the fiscal year.