A brief review of the financial condition of St. Vincent's Catholic Medical Centers in New York City.
Written in 2006; 675 words; 3 sources; $ 26.95
Paper Summary:
This brief paper reviews the financial conditions and situations which St. Vincent's Catholic Medical Centers in New York City have been faced with in recent years. The author compares hospitals to other businesses, emphasizing that they must be vigilant when dealing with costs. Therefore some hospitals,with the help of their employees, are being to encouraged to learn how to cut costs together.
From the Paper:
"The outlook for health care facilities has not been extremely positive in recent years. This is due to the decline in revenues and increased expenses, which many of them have incurred and which have led to an increase in bankruptcy filings. For those who have sought Chapter 11 protection their organizations have been forced to change their cost structures and manage debt or face closing their doors forever. This may sound like a simple task but in the world of medicine costs are always high and technology is forever changing. To make matters worse insurance costs are on the rise and profit margins seems to be continually declining. The fact remains that hospitals like any other business must be vigilant when dealing with costs and unfortunately to treat the ill does not come cheap. Therefore some hospitals with the help of their employees are learning to cut costs together."
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