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Financial crisis takes a toll on hospitals

Wall Street Journal (Blog), October 2, 2008

With the United States facing a huge financial crisis, hospitals are putting off construction projects and paying higher interest on some existing debt. Hospitals with existing variable-rate debt have seen a big jump in the interest they’re paying—in some cases up to 10% or more, up from 3% or 4%, American Hospital Association CEO Rich Umbdenstock told the Wall Street Journal. At the same time, they're seeing more patients who are unable to pay.