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."
I'm Dr. Joshua Schwimmer, a nephrologist and internal medicine physician in New York City. • Kidney Notes was the first active nephrology blog. (Trivia: Kidney Notes is so old that the National Library of Medicine still uses it as an example of how to formally cite blogs.) • Professionally, you can find me at Kidney.nyc. • Kidney Notes is for educational purposes only, not medical advice. Consult qualified health care professionals. See disclaimer.
Thursday, November 17, 2005
Hospitals in New York City Facing Financial Pressure
From The New York Sun: