Coronavirus: Thread

grarpamp grarpamp at gmail.com
Sat May 13 12:49:07 PDT 2023


Subsidy always results in high prices, peoples debt and bankruptcy,
and more PolCorp corruption...

Now with more forced medical tyranny being rolled out
to support the broken system...

There was a time when you could just out of pocket direct
to doctor and hospital with no debt, now you're fucked by
GovPolCorp...



Non-Profit Hospitals Made Huge Profits During Pandemic While Receiving
$23 Billion In Federal COVID-19 Aid: Report

https://www.theepochtimes.com/non-profit-hospitals-made-huge-profits-during-pandemic-while-receiving-23-billion-in-federal-covid-19-aid-report_5258094.html

Federal 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’
total profits and revenues during the 2018-2021 time period spanning
the Coronavirus pandemic, according to a new report.
The Mayo Clinic in Rochester, Minn., on Sept. 29, 2020. (Kerem
Yucel/AFP via Getty Images)

Only two of the 20 institutions have repaid the government for the
COVID-19 aid they received.

“The 20 largest nonprofit hospitals in the country continued making
massive profits while their cumulative net 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.
The Cleveland Clinic in Cleveland, Ohio. (Courtesy of Cleveland Clinic)

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...


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