Ontario hospitals in the red are taking out private bank loans

Even hospitals in a balanced position may rely on operating lines of credit, according to health economists and consultants who spoke with the IJB. Borrowing allows accountants to cover fluctuations in revenue and expenses and manage sporadic, often late, payments from the province. “It’s like running a normal business,” said Mark Hundert, the former national director of health care consulting at Hay Group, now part of Korn Ferry, a global consulting firm.