More than half of Alabama hospitals lost money in 2007
BIRMINGHAM — Officials say more than half of Alabama's hospitals reporting their finances to the Alabama Hospital Association lost money last year.
The gloomy financial picture comes from 67 hospitals that have sent in 2007 data, out of 106 general hospitals in the state. Rural hospitals are suffering the most, with 57 percent reporting they lost money in 2007.
In all, almost 54 percent of reporting hospitals lost money. And forecasts indicate a much worse 2008 and 2009 because of the failing economy.
Hospital consultant Martin Nowak says Alabama has higher percentages of patients who are uninsured or on Medicaid, the medical coverage for the poor that often pays hospitals less than their costs.
Nowak also says the state's hospitals were being hit by a softening economy before it became a full-blown crisis.
