Fiscally challenged. Psychiatric industry's hope is in consolidation, focusing services.
Psychiatric hospitals are closing in droves. Last year alone, at least 75 were shuttered, up sharply from the previous year. And psych hospitals collectively lost $254 million in 1998. To reverse the sector's fortunes, providers are focusing on consolidation and specialty services. "Mental health isn't glamorous," says David Moulthrop (left), CEO of a Wisconsin psych hospital. "But there is a future, though the pie has shrunk."
Saphir
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D005377:Financial Management, Hospital; D005382:Financing, Personal; D006778:Hospitals, Psychiatric / Q000191:economics / Q000458:organization & administration*; D007182:Income / Q000639:trends; D007349:Insurance, Health, Reimbursement / Q000639:trends; D008329:Managed Care Programs; D016344:Medicare Part A / Q000639:trends; D014481:United States