Nonprofit Hospitals’ Fiscal Woes a Boon for the For-Profit World
October 16, 2009 | Read Time: 1 minute
Big investor-owned hospital companies are set to reap business gains from the struggles of their nonprofit counterparts, Dow Jones Newswire reports.
After years of high investment yields and booming capital spending, nonprofit medical centers are dialing back expenditures in the face of tight credit and diminished endowments, giving commercial competitors an opening to gain patients and buy struggling institutions.
“The fact that our not-for-profit peers are spending less means that we’ll have opportunities to take market share, said Steve Filton, chief financial officer at Universal Health Services.
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