In the last few years, several private hospitals in the city have closed, filed for Chapter 11, had their bond status downgraded, or sold off major assets to raise cash.Technorati Tags: Hospitals, News from New York, New York City, Hospital Finances
While the financial status varies widely at the 73 hospitals in the city, those in the industry say fiscal pressures are mounting on the facilities, which are not generally known for their business acumen.
"There are a lot of hospitals in New York that are operating with no cushion," the director of health care ratings at Standard & Poor's, Liz Sweeney, said. "They're operating with enough cash to make maybe the next payroll."
Thursday, November 17, 2005
From The New York Sun: