Tuesday, October 14, 2008

NON PROFIT HOSPITALS BEING SHUT DOWN

Wall Steet Journal - Ascension Health, the country's largest nonprofit hospital system, says its mission is to serve all, "with special attention to those who are poor and vulnerable." But in this city, where one in four people don't have health insurance, it's become harder for the poor and vulnerable to find Ascension. Last year, Ascension's local subsidiary closed [Detroit's] Riverview Hospital, the third hospital it has shut down in Detroit in the past 10 years and the only hospital that remained on the city's blighted east side. Meanwhile, 30 miles away, in a suburb of multimillion-dollar homes, Ascension is opening a new $224 million hospital. Of the 42 hospitals in the city in 1960, fewer than 10 are left. .

Net income at Ascension, which owns 67 hospitals located mostly in the Midwest, South and Northeast, nearly tripled to $1.2 billion between 2004 and 2007 thanks largely to investment gains.

. . Nonprofit hospital systems have shuttered facilities from Los Angeles to Chicago to Newark, N.J., while spending billions on suburban expansions. This all comes as large nonprofit chains have been enjoying some of their most prosperous times ever.

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