PROVIDENCE, R.I. (WPRI) — Rhode Island Attorney General Peter Neronha slammed CharterCARE Health of Rhode Island’s strategic turnaround plan Friday, arguing that it relies on “unrealistic and unsupported assumptions” based on the successful implementation of initiatives designed to ensure the financial feasibility of its hospitals.
In a letter sent to Leslie Parker, an attorney who represents CharterCARE, Neronha rejected the nonprofit healthcare system’s five-year turnaround plan.
Specifically, Neronha explained that CharterCARE was required to engage a turnaround consultant to “evaluate the financial condition, strategic planning, governance materials and current operations” of the new healthcare system and “implement a strategy to improve operations, stem operational losses, ensure appropriate investment in capital needs, and improve access to safe, high-quality care.”
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But Neronha said the turnaround plan as it’s currently written “does not address or incorporate the turnaround consultant’s evaluation and recommendations to safeguard the near-term financial viability of the CharterCARE hospitals.”…