Case study: Boston hospital needs $30 million for upgrades

Boston's Carney Hospital has been in very bad shape financially for some time now. To get back on its feet, the facility's owner, Caritas Christi Health Care, must substantially improve its nursing programs, and that means raising a substantial $30 million over the next five years. Caritas Cristi CEO Ralph De la Torre says the $30 million is "not an enormous amount," but it must be a bit sobering investing this kind of funding in a facility with the kind of problems Carney has. Right now, about 75 percent of Carney's patients rely on government-funded health insurance programs, which as FierceHealthFinance readers know, usually pay less-than-commercial plans. That's led to the hospital making few capital investments, and now, the hospital won't be viable much longer unless it upgrades, according to a report by consulting firm Wellspring Partners.

To learn more about the Carney situation:
- read this Boston Herald report