At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
The Tax-Exempt Board Fiduciary Duties in the Context of Evaluating Strategic Alternatives and Sales
A recent New York State hospital transaction highlights the challenging problem which the Board of Directors of a not-for-profit institution faces in the context of a sales transaction.1 In Manhatten Eye, Ear & Throat Hospital ("MEETH"), the Court denied the petitiion for judical authorization to sell substantially all of the assets of the Manhatten Eye, Ear & Throat Hospital. The Court held that the Manhatten Eye, Ear & Throat Hospital Board had not fulfilled its duties to the not-for-profit corporation. In contrast to a number of other cases involving the sale of not-for-profit assets, the Board was not criticized for failing to find the highest bidder for entering into self-dealing or self-interested transactions. Rather, the Board was criticized for not fulfilling its "duties of obedience" to the corporation’s charitable purposes.
Always Ready, Every Stage: What the New CMS Survey Standard Means for HR — and How Leading Health Systems Are Preparing Now
Presenter: Sunny Gahir, UCLA Health
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