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Disappearing credit forces hospitals to delay improvements

New York Times, October 15, 2008

The hospital industry is among those struggling with the credit scarcity that the federal government's latest financial bailout plan is meant to alleviate. Hospitals "are not immune," said Richard L. Clarke, chief executive of the Healthcare Financial Management Association, a professional group for hospital finance executives. He noted that hospitals, like any other business, relied on credit for building projects and to maintain overall liquidity.