The report attributed the losses to such factors as low government reimbursements and a lack of long-term beds, resulting in longer acute-care hospital stays.
Even though charity care and bad debts rose by $8.8 million in 2008, the 2008 losses were $25 million lower than the year before, perhaps because Hawaii hospitals improved efficiency and benefited from higher private reimbursements in 2008, the company said.
However, an Ernst & Young analyst predicted higher losses for this year, raising questions about the hospitals’ ability to reinvest in operations.
Read the Honolulu Advertiser’s report on Hawaii hospitals.
