Shreveport Shriners hospital may close

The Shreveport Shriners hospital, which provides free orthopedic care to children, could be forced to close, reports the St. Petersburg (Fla.) Times. The Shriners, best known for their participation in parades and their fezes, have provided free medical care since 1922. But the organization has been financially pinched by declining membership, surging health care costs and the stock market collapse. The Shriners endowment has dropped from nearly $9 billion in 1985 to $5 billion. This has caused the organization to look at closing six hospitals, including Shreveport, in order to have the money to keep 16 others operating. Shriners officials warn that unless some hospitals are closed, the entire health care system could be broke in five to seven years. The Shriners are set to vote on closing the hospital at their national meeting July 5 in San Antonio. Read the full story here.