Financial Struggles at Glenwood Regional Medical Center Raise Concerns

In April 2024, hospital staff testified before Louisiana’s House Health and Welfare Committee about the deteriorating conditions at Glenwood Regional Medical Center in West Monroe. The hospital had been under scrutiny from the state Health Department due to ongoing issues with patient care, which appeared to be worsening.

The hospital had fallen behind on payments for essential supplies like oxygen, blood bank services, and repairs to critical equipment such as the elevators used for patient transport around the facility. Former staff described a concerning lack of basic resources and specialist availability.

Debra Russell, a former nurse, shared that during emergencies, there was often no cardiologist on hand when a patient suffered a heart attack, and even routine equipment was missing. She recounted incidents where staff were sent to find necessary tools only to be told they had run out or were unavailable.

Glenwood is one of nearly 400 healthcare facilities owned by Medical Properties Trust (MPT) and leased to hospital chains. Nine of these leased hospitals have declared bankruptcy.

At the time, Glenwood was operated by Steward Health Care, one of the largest for-profit healthcare providers in the country. However, the building itself was owned by Medical Properties Trust, which charged Glenwood monthly rent, raising questions about the financial pressures impacting the hospital’s operations.

State Representative Michael Echols, representing the district including Glenwood, expressed concerns over whether the high rent paid to MPT was contributing to the hospital’s financial woes. Despite community worries, transparency remained limited.

While many hospitals like Glenwood have faced financial crises, MPT’s executives have accumulated significant wealth. The company’s business model involves owning hospital real estate and leasing it to operators, a strategy criticized for prioritizing profits over patient care. This approach has led to multiple bankruptcies and the decline of essential health services across numerous facilities.

For a deeper exploration of MPT’s impact and the broader hospital financial crisis, watch this story on Reveal and read our in-depth reporting.