Nov 07 2008
And How Long Until Hospitals Go Bankrupt?
According to a New York Times article, hospitals are seeing a decline in paying patients. People are putting off going to the hospital for simple things as knee problems, mainly just to save a dime in this time of economic crisis. Only in the most extreme of emergencies will they go to hospitals. Meanwhile, people who can’t afford many of the services are going more often, and hospitals cannot easily turn away a bleeding man. Insurers are often slow in paying. Some hospitals have already started to close.
This amazes me somewhat, but it makes sense when I think about it. I am used to hearing discussions of banks making loans to people who fail to pay them, poor countries seeking loans just to declare bankruptcy down the line, and other tales of financial institutions falling. I never really think that hospitals can be victims of financial problems when patients are so focused more on saving than their health. So my message is simply to give some charity to your local hospital, go over there with your sprained ankle, infected cut, runny nose, whatever. If people don’t, those medical centers you will need one day may not be there for much longer.
