NEW YORK (AP) – The New York State Comptroller’s office says the State University of New York Downstate Medical Center is hemorrhaging millions of dollars every week and could be insolvent in a few months.
Comptroller Thomas DiNapoli released a report Thursday saying Downstate’s management made “poor financial decisions” that contributed to its “dire” fiscal condition. DiNapoli says the Brooklyn-based academic medical center could be unable to pay its debts by May if immediate actions are not taken.
Downstate serves more than two million New Yorkers and employs about 8,000 faculty and staff. It provides services at three Brooklyn hospitals.
Downstate said in a statement that it is developing a comprehensive plan to remedy the financial issues addressed in the report.
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