As a result of a bad U.S. economy, a new report notes that hospitals, which employ 5 million people nationwide, could be facing uncertain times as their financial health falters and their ability to borrow funds for improving facilities and updating technology is squeezed.
The report shows the credit crunch is increasing the costs of borrowing money, making it more difficult for hospitals to find the financing for facility and technology improvements. It indicates hospitals have delayed or will delay capital investments in the near future:
- 56 percent are holding off on renovations or plans to increase capacity or considering postponements
- 45 percent are delaying the purchase of clinical technology or equipment
- 39 percent are putting off investments in new information technology
Sun Capital HealthCare, Inc. (SCH) provides a debt-free funding solution for hospitals and healthcare providers that can help alleviate the financial stress associated with not having sufficient up-front cash to meet overhead and finance necessary improvements.
Healthcare executives can use the funds generated from SCH's Medical Accounts Receivable (MAR) Funding program to improve return on investments (ROI's) by financing deferred projects, such as renovations or the purchase of needed equipment, at today's costs and seeing the benefits of their investment sooner.
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