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Hadassah Medical Center Having Trouble Defraying Costs



Hadassah Medical Center Having Trouble Defraying Costs
Hadassah Medical Center Having Trouble Defraying Costs

Hadassah Medical Center Having Trouble Defraying Costs

Recent reports have indicated that Hadassah Medical Center in Jerusalem is experiencing difficulties defraying their debts to various medical suppliers.

The hospital has yet to pay nearly ten million shekels in fees and services, and this deep debt stems from their financial history and the significant loss they incurred in the aftermath of the Madoff Ponzi scheme two years ago. Having lost ninety million dollars in the tumult, Hadassah has struggled to reestablish itself in the midst of the global economic downturn. Since Hadassah is privately owned by the Women’s Zionist Organization of America, it is not entitled to any government funds and strictly maintains itself with donations. Donors have become increasingly parsimonious in the past few years and Hadassah has experienced troubles rehabilitating its Medical Center and associated programs. After the Madoff scandal, the organization discontinued its annual support of the hospital and current debts demonstrate that the Medical Center is still in the process of rebuilding.
However, sources at Hadassah Medical Center have intimated that the problem may not be as severe as it seems. Though suppliers have complained of the outstanding debt, the Medical Center has assured the public that the “debt” is not as realistic as it is apparent. “Unlike other hospitals, Hadassah does not receive any budgeting from the government or the State health system. This is a temporary setback in a minor portion of the payments due to the fact that Hadassah has not received all of its due payments from various parties.” Having cut staff salaries and sold various pieces of real estate to generate capital throughout the course of their financial struggle, it is conceivable that this debt situation may simply be a minor glitch in Hadassah’s efforts to reimburse their suppliers. Only time will tell the nature and depth of the issue.

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