EHP Blog

Top 82 U.S. Non-Profit Hospitals-Quantifying Government Payments and Financial Assets

OPEN THE BOOKS IS A GREAT WEBSITE THAT REVEALS GOVERMENT SPRNDING AND WASTE. THE LINK BELOW LOOKS AT 82 NON FOR PROFIT HOSPITALS AND REVEALS SOME EYE POPPING INFORMATION.

https://www.openthebooks.com/assets/1/6/Top_82_U.S._Non-Profit_Hospitals_Final_Report.pdf

In households across America, healthcare costs are crushing the American dream. The average family now pays nearly
$20,000 annually between insurance premiums, deductibles,
and out-of-pockets costs.
In 1970, healthcare amounted to seven-percent of gross
domestic product (GDP). Today, estimates suggest the soaring
cost of healthcare will consume 20-percent of our GDP.
Our OpenTheBooks Oversight Report – Top 82 U.S. Non-Prof-it
Hospitals, Quantifying Government Payments & Financial
Assets studied the largest charitable healthcare providers. Last
year, patients spent roughly 1 out of every 7 U.S. healthcare
dollars within these healthcare networks. Many are household
names: Mayo Clinic, Cleveland Clinic, Kaiser Foundation, Dignity Health, and Partners HealthCare.
These powerful institutions are organized as public charities –
not as for-profit corporations. Their mission is to deliver the
latest in medical technologies and affordable healthcare to
their communities. Any “profits” must be re-invested into their
charitable mission.
However, these 82 non-profit medical providers are making
big money. Last year, their combined net assets increased from
$164.2 billion to $203.1 billion – that’s 23.6-percent growth.*
Meanwhile, their executives are highly compensated. The Banner Health Chief Executive Officer and President earned $21.6
million and their Executive Vice President and CAO made $12
million last year. Top executives at Memorial Hermann Health
System, Kaiser Health, Ascension, Advocate Health Care, and
Northwestern Memorial made between $10 million and $18
million.

For comparison, our analysis also includes the five largest publicly traded for-profit U.S. hospitals. These five corporations
had $96 billion in revenues last year with net asset growth of
$600 million: an increase in assets from $40.1 billion to $40.7
billion year-over-year (1.5% increase).
Taxpayers deserve to know whether our non-profit healthcare
providers, which use our laws to structure themselves as charities, are truly working for patients. After all, these non-profits
pay no income taxes, or property taxes, and raised over $5
billion last year in tax-deductible contributions from donors.




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