North Carolina Baptist Hospital and its affiliates report a $53.8 million loss for fiscal year 2009, which ended June 30, 2009, compared with a $14.6 million loss in fiscal 2008, according to a report by the Winston-Salem Journal.
Baptist experienced a $46.5 million loss in 2009 in its investment portfolio and a nearly $1.9 million drop in income from operations from $9.9 million in fiscal 2008.
Also contributing to Baptist’s problems was a 68 percent increase in charitable care and more procedures being done on an outpatient basis.
Read the Winston-Salem Journal’s report on North Carolina Baptist Hospital.
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