Report: Connecticut Hospital Finances Stabilizing
HARTFORD, Conn. (AP) – Connecticut regulators say many of the state’s 30 acute-care hospitals have improved their financial health over the past year.
The state Office of Health Care Access says the average Connecticut hospital ended the budget year on June 30 with a positive margin of about 2.62 percent – what would be known in the business world as profit.
Three of every four hospitals ended the year in the black, compared with less than half in the depths of the recession one year earlier.
Still, though, hospitals statewide continued to lose assets – a problem attributed to the dramatically decreased value of their stocks, bonds and other investments.
The state regulatory agency monitors the 30 Connecticut acute care hospitals to ensure their financial stability.
(Copyright 2010 by The Associated Press. All Rights Reserved.)