NYC’s Mount Sinai Hospital Plans to Close Its Beth Israel Campus
- Site lost $1 billion in last decade as patients went elsewhere
- Wind-down comes as hospitals grapple with higher labor costs
People cross a bridge at a Mt. Sinai Hospital in New York.
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New York City’s Mount Sinai Medical Center plans to gradually close its Beth Israel campus in downtown Manhattan after years of financial losses.
Beth Israel lost $1 billion over the past decade “despite massive investments and upgrades,” spokesperson Lucia Lee said in a statement Thursday, adding that it is expected to lose $150 million this year as it operates at only 20% of capacity. She declined to give more detail on the timing of the closing but said the hospital, located on East 16th Street in Manhattan, and its emergency room will remain open as the process proceeds.