The $7 million shortfall is due in part to greater losses than expected from the hospital’s clinic, which accounted for $5 million in losses. The other $2 million in losses came from “bad debt,” including bills that were not collected for medical services. Charter One Bank has issued more restrictive financial targets.
Hospital administrators are taking action to address last year’s loss by cutting expenses through vendor contracts and administrative salaries, according to the news report.
Read the news report about Bell Hospital’s $7 million loss.
Read other coverage about hospital finances:
– Report: U.S. Hospitals Billed $1.2 Trillion in 2008
– North Carolina’s Presbyterian Healthcare to Begin Construction on $90M Hospital
– Nursing Strike Racks Up $6M Bill for Washington Hospital Center
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