Non-Profit Hospitals Made Huge Profits During Pandemic While Receiving $23 Billion In Federal COVID-19 Aid: Report
ederal officials gave more than $23 billion COVID-19 aid to the nation’s top 20 nonprofit hospitals even as a 62 percent increase in their collective net assets led parallel surges in the institutions
et assets soared to $324.3 billion in 2021, up from $200.6 billion in 2018. The year 2021 is the latest year available for cross-comparison purposes.
“Those hospital systems received congressional COVID bailouts of $23 billion and only two providers partially paid their COVID bailout back,” said the report compiled by Open The Books, an Illinois-based research nonprofit that compiles and posts spending by all levels of government in America. The two institutions that have partially repaid the government were not identified.
The biggest jump among the top 20 was 92 percent by the Mayo Clinic, based in Rochester, Minnesota, whose assets went from $9.2 billion in 2018 to $17.7 billion in 2021. The Mayo Clinic received $350,000 in federal COVID-19 aid, the lowest amount received among the top 20 institutions.
The Cleveland Clinic Health System, based in Independence, Ohio, saw its assets go up 60 percent, from $9.8 billion to $15.7 billion, while receiving $118 million in federal COVID-19 aid. Intermountain Healthcare, based in Salt Lake City, Utah, the 12th largest of the top 20, enjoyed a 63 percent growth in net assets from $7.1 billion to $11.6 billion. Intermountain received $518 million in aid.
Seeing a 43 percent jump in net assets between 2018 and 2021 was the Northwestern Medicine system, moving from $8.3 billion to $11.9 billion, and receiving $419 million in COVID-19 aid from federal officials. The Indiana University Health System went from $7 billion in 2018 to $10.3 billion in 2021, a 47 percent increase. The Indiana facility received $726 million in COVID-19 assistance from the government.
And as the revenues poured in for the 20 hospitals, compensation for their top executives soared, often beyond $10 million annually, according to the report.
For example, the chief executive officer (CEO) of Ascension Healthcare, which is based in St. Louis and is the nation’s second-largest such system, received $13 million in 2021 and a total in excess of $22 million for the period covered by the study.
The recipient among the top 20 of the most COVID-19 aid was San Francisco-based CommonSpirit Health with $3.6 billion, followed by Providence St. Joseph Center with $3 billion, Ascension Healthcare with $2.7 billion, Livonia, Michigan-based Livonia Health with $2.3 billion and Sutter Health, based in Sacramento, California, with $1.7 billion.
But the overall health of Americans headed downward between 2018 and 2021.
“American life expectancy during this period sharply declined by a staggering 2.5 years from 2019 through 2022. While ‘comparable country averages’ rebounded from a COVID-related drop in 2021, the United States continued declining in life expectancy,” the report found.
“Yet, the cost of health care is still astronomically high, as the average family paid $22,463 in health insurance premiums in 2022. That does not include out-of-pocket costs like co-pays and deductibles, which can be thousands more. This has led to medical debt for about 100 million Americans,” the report continued.
Read more here...
Go paid at the $5 a month level, and we will send you both the PDF and e-Pub versions of “Government” - The Biggest Scam in History… Exposed! and a coupon code for 10% off anything in the Government-Scam.com/Store.
Go paid at the $50 a year level, and we will send you a free paperback edition of Etienne’s book “Government” - The Biggest Scam in History… Exposed! AND a 64GB Liberator flash drive if you live in the US. If you are international, we will give you a $10 credit towards shipping if you agree to pay the remainder.
Support us at the $250 Founding Member Level and get an Everything Bundle – The Sampler of Liberty! - Get it free by going paid as a Founding Member!
Give me Liberty... and give me more! The Everything Bundle includes the latest version of our flagship book on government, along with a collection of potentially life-altering introductions to voluntaryism, agorism and peaceful anarchy.
“Government” – The Biggest Scam in History… Exposed! by Etienne de la Boetie2
Anarchy Exposed! - A former police officer reports on his investigative journeyby Shepard the Voluntaryist and Larken Rose
The Most Dangerous Superstition by Larken Rose
Sedition, Subversion and Sabotage – Field Manual #1 by Ben Stone, The Bad Quaker, and Ken Yamarashi
What Anarchy Isn’t– A short pamphlet by Larken Rose… The perfect introduction to peaceful anarchy
Three Friends Free – A Children’s Story of Voluntaryism
The Liberator is a 64GB wafer flash drive filled with books, documentaries, podcasts, MP3s, short videos, and music from the truth movement’s leading artists. The credit card-sized format makes it convenient to keep in your wallet to share and copy easily.
