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Miami Beach's Mount Sinai expects operating losses to double

Miami Herald, December 3, 2008

Miami Beach-based Mount Sinai Medical Center is telling investors of its junk-rated bonds that it expects an operating loss of $18.5 million this year—twice as much as 2007. In addition, the hospital now projects an even greater loss next year—$19.7 million, according to hospital documents. In its third-quarter report, the hospital attributed most of the deepening losses to the hospital's shift toward employing more physicians, a move which accounted for 61% of the losses through the third quarter.