For some of us – it was perhaps a surprise to learn this week that many hospitals in Ontario have to borrow money privately to pay the bills and remain in operation. A National Post story based on a study published by the Investigative Journalism Bureau, revealed that collectively, hospitals in Ontario owe banks millions of dollars in interest on money borrowed to fund their operating budgets.
The Chief Executive Officer of Middlesex Hospital Alliance Julie McBrien tells Strathroy Today, hospitals, rural hospitals included, are operating in an increasingly challenging financial environment.
McBrien says Strathroy and Middlesex General are experiencing significant financial pressure.
Asked for budgetary specifics, McBrien confirmed borrowing is part of Strathroy Hospital’s strategy to deliver services.
In a bid to keep the community informed on the state of healthcare, McBrien says she has just launched the Middlesex General Hospital
Community Connect Newsletter.
McBrien says the newsletter is an online publication available via the hospital’s website and social media.
In summary, the Post article notes 80 of Ontario’s 129 publicly funded hospital networks recorded operating deficits last year.
By law hospitals in Ontario must “plan” for a balanced annual budget. While there can be wiggle room, the Post reports it’s on a case-by-case basis and must be approved by the province.
Written by: J. Brenner
