In the first seven months of its budget year, Westerly (R.I.) Hospital lost $5.2 million, according to a Boston Globe news report.
That amount accounts for more than three times what was expected to be lost. Hospital officials attributed the operating loss to the continuing recession, which has caused patients to delay elective surgery, and higher costs for employee health insurance.
Westerly Hospital has already taken several measures to improve its financial viability, including laying off 26 employees, cutting nine employees' work hours and tapping into reserves.
Read the news report about Westerly Hospital.
Related Articles on Hospital Finances:
Martha's Vineyard Hospital CEO Cautiously Optimistic About Growing Profits
Summit Park Hospitals Lost $10M in 2010; Programs May Be Cut or Eliminated
New York Work Group Tasked With Saving Cash-Strapped Hospitals
That amount accounts for more than three times what was expected to be lost. Hospital officials attributed the operating loss to the continuing recession, which has caused patients to delay elective surgery, and higher costs for employee health insurance.
Westerly Hospital has already taken several measures to improve its financial viability, including laying off 26 employees, cutting nine employees' work hours and tapping into reserves.
Read the news report about Westerly Hospital.
Related Articles on Hospital Finances:
Martha's Vineyard Hospital CEO Cautiously Optimistic About Growing Profits
Summit Park Hospitals Lost $10M in 2010; Programs May Be Cut or Eliminated
New York Work Group Tasked With Saving Cash-Strapped Hospitals