Accounting flaws at Westchester Medical Center

An audit by New York State has found mismanagement and inept accounting practices at Westchester Medical Center but exonerated the facility of fraud charges. The new report details the spectacular virtual collapse of a hospital which was $7 million in the black in 2000 but over the next four years managed to find ways to lose a staggering $200 million. The audit determined that accounting estimates at the hospital were off by a shocking degree, usually by millions of dollars every month. The hospital is run by an independent, non-profit corporation, but its debts are underwritten by Westchester County.

- see this story from The New York Times