No layoffs as Provision reorganizes

Knoxville, Tenn. (WVLT) – Provision CARES proton therapy centers have begun their reorganization. As part of the Chapter 11 bankruptcy process, they have a plan to restructure their long-term debt.

Knoxville Centers; Nashville and Hamlin, Florida will continue to operate as usual. The company says it continues its commitment to care. Patients who receive this cutting-edge diagnosis and treatment will not be affected. The security measures put in place at the start of the pandemic are still in place.

Terry Douglass, chairman of the board of Provision, said: “It always shows up when something like this happens as being negative. But from our point of view, it is very possible that our centers will now be structured in such a way as to significantly reduce debt service. This will allow us, first, to provide more charitable care due to uncertainty and reimbursement, and then to be able to accept every patient who needs proton therapy.

The pandemic has played a role in this organizational restructuring as there are fewer patients seeking care during the COVID-19 crisis, as well as changes in Medicare reimbursements and a cyberattack on their data and information systems .

Officials said there would be no layoffs at this time. Provision employs nearly 200 people in Tennessee.

Company executives said they intend to remain focused on patient care and expect to announce long-term financial restructuring plans in the near future.

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