November 21, 2008
More Evidence Recession is Hitting Nonprofit Hospitals Hard
An article from Bloomberg News presents more evidence of how the economic downturn is causing pain for many nonprofit hospitals. The article notes that "hundreds" of the country's nonprofit, acute-care hospitals are "cutting services as tightening credit, lagging government payments and a rise in uninsured patients create record losses." The article also cites a study by the American Hospital Association that found hospitals lost $831.5 million on investments in the third quarter compared with an overall gain of $396.1 million in 2007.
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