The Deteriorating Financial Condition of New York City's Nonprofit Hospitals, and Its Effect on Capital Investment

A Hospital Watch Special Report

Author/Editor: Steven Fass and Sean Cavanaugh

Among the findings in this report, New York City hospitals are lagging hospitals nationwide in capital investment. From 2000 to 2006, the “average age of plant” (an accounting term that measures the average age of physical plant, medical equipment, and information technology) rose dramatically in New York City's nonprofit hospitals from 10.7 to 14.2 years, or 33 percent; the corresponding national average rose a much smaller increment, from 9.4 to 9.7 years. New York City hospitals are struggling “to keep pace with capital investment…which is essential for future success,” according to the report.

Copyright: 2008
Published: 12.14.2008

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• New York City Hospitals and Capital Investment (922KB)