Medicine: Hospitals in the Red

High prices have hit the hospitals such a staggering blow that many may have to close their doors in 1948. That "storm signal of approaching disaster" was announced last week by leaders of Manhattan's United Hospital Fund, who are waging a desperate campaign to save New York City's voluntary hospitals from financial collapse.

In the past year, hospital payrolls jumped 40%, food more than 43%, drugs 38.9%. Meanwhile, the hospitals had an unprecedented horde of patients. Result: most voluntary hospitals in the city went deeply into the red (e.g., the immense New York Hospital had an operating deficit of $1,540,115). Even after...

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