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Recent statistics compiled by the New Jersey Hospital Association show that the average hospital operating margin in New Jersey is about 0.8 percent, the lowest point in a decade. The average total margin, which measures overall profitability of a hospital including restricted funds, fell to 2.5 percent in 1997, the lowest point since 1992. Nearly 40 percent of the state's hospitals are losing money, and the average day's cash on hand--which measures a hospital's reserves--is 40 days, lower than both the Northeast and national averages. These financial realities could signal a difficult crossroads ahead. |
