Some Massachusetts Hospitals Being Negatively Affected by Recession
A recent Massachusetts Hospital Association survey found that 59% of hospitals statewide reported a decline in elective surgeries in fiscal year 2008 and the beginning of FY 2009, the Boston Globe reports. According to the Globe, people are delaying medical care amid fears about unemployment as the recession continues. In addition, profit margins at Massachusetts hospitals have dropped from an average of 0.7% in the last quarter of 2008 to 0.3% in the first quarter of this year, according to MHA. As a result, hospitals are cutting jobs, and canceling or postponing expansion projects (Woolhouse, Boston Globe, 5/4)
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