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Richard S. Cooper. Esq., Member, McDonald Hopkins LLC

Fiduciary Standards for Board Members of Financially Distressed Hospitals



By Richard S. Cooper, Esq.
Member
McDonald Hopkins LLC


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Original Publish Date: August 9, 2016

Increasingly, hospitals are facing material financial challenges which, for some hospitals, create a financial distress scenario that requires prompt and decisive action to remain viable. Hospital boards of directors/trustees need to be particularly sensitive to their fiduciary duties and obligations in such situations. What follows below is a primer on the early warning signs of financial distress and board and hospital responsibilities which apply.

Early Warning Signs of Financial Distress

Fiduciary Standards for Board Members

Board Role – Bottom Line

Corporate Governance Best Practices

Mr. Cooper provides legal representation to a broad range of hospitals, other healthcare facilities and physician groups across the United States. He has been listed in The Best Lawyers in America for health law for twenty-three consecutive years and selected for inclusion in Ohio Super Lawyers (2005-2015).

Visit the McDonald Hopkins LLC web site at www.mcdonaldhopkins.com.