South Florida hospitals show signs of distress

The past year has been brutal for South Florida hospitals, and this year is likely to be worse. The Baptist Health system suffered a $71.7 million loss in its 2008 fiscal year. Miami Children's lost $72 million. Holy Cross lost $25 million, and Mercy $34.8 million. All four of these suffered serious losses in their investment portfolios, but others are beginning to feel the effects of the recession as their number of uninsured patients grows.