I was browsing through this comprehensive list of Horror-Podcasts on Reddit and found Hayward Sanitarium and have been listening to it since.
From the about:
Now considered a cult classic, the series broke new ground in audio theater production as one of the first digitally recorded and edited shows. Much of the series was recorded on location with live performances. The fear you hear may be very near.
It appears that the podcast sadly has never been completed, but it is fun nonetheless.