Business
Report: 47% of New Jersey hospitals posted losses in 2007
NEWS IN BRIEF — Posted Dec. 22, 2008
Nearly half of the hospitals in New Jersey posted overall financial losses at the end of 2007, according to a New Jersey Hospital Assn. report released in late November.
The report, "Financial Status of New Jersey Hospitals," shows that 47% of the state's hospitals were in the red even before the current economic meltdown. The average total margin in 2007, the ratio of total income to expenses, dropped from 3.1% in 2006 to 0.9%, the lowest it has been since 2002. In addition, three acute care hospitals closed and five filed for bankruptcy.
The report includes audited financial data submitted by acute care and specialty hospitals and health systems statewide.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2008/12/22/bibf1222.htm.
