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August 26, 2008
Nonprofit Hospitals Face Financial Struggles
Nonprofit hospitals are suffering financial problems because of the turbulent economy, reports Reuters news service.
Reports released yesterday by Moody’s Investors Service and Standard & Poor’s Ratings Services showed that many nonprofit hospitals suffered financial setbacks after their debt from capital projects was restructured (and often increased) when the auction rate market, which many nonprofit hospitals used, collapsed earlier this year.
A spokesman for Moody’s said further pressure will be put on nonprofit hospitals as the economy weakens and more patients seek health care they can’t pay for, reports the news service.
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