Projo 7 to 7 News Blog

NEWPORT -- Newport Hospital is under increasing financial strain.

Chief Finance Officer and Treasurer Frank Byrnes says the hospital had an operating loss of nearly $2.8 million in the fiscal year that ended Sept. 30. up from about $1.5 million the previous year.

The nation's financial crisis also took a big bite out of the hospital's endowment, which dropped to about $208 million at the end of the year, compared to about $250 million at the same time last year.

The hospital had an operating budget of $110.2 million in the fiscal year that just ended, with revenues of $107.4 million.

President and chief executive Arthur Sampson says these are the most ``trying'' times he has seen in 34 years in the business.

-- The Associated Press (Information from The Newport Daily News)

 Tags  economy financial crisis Newport Newport Hospital

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