The Guam Memorial Hospital can now pay its overdue bills for vendors after getting a bank loan approved for a twelve million US dollar loan under urgency this week.
Due to changes in government funding, the hospital is more than 25 million US dollars in debt and has been unable to pay for basic medication and supplies for patients for some time.
But the loan from the Bank of Guam allows the hospital to clear its debts to vendors and get better deals on medication and supplies.
Hospital spokesman, Connor Murphy, says this loan also gives them time to try and improve the business model of the hospital.
"I could say, we definitely don't have the resources we need to carry out our mission. We're expected to take care of all patients without regard to their ability to pay. But the money for treatment has to come from somewhere. So what this loan is going to do is give us the breathing room we need to take a good hard look at how to get this hospital back on its feet."
Connor Murphy says the hospital will tighten its billing collections to try and pay off its debt.
