3 Should Nonprofit Hospitals Keep Their Tax-Exempt Status?
Nonprofit Hospitals Do Good by:
being obligated to treat all patients, regardless of their ability to pay.
offering a wider range of services, some of which carry financial loss, than for-profit hospitals.
not concerning themselves with shareholders.
conducting Community Health Needs Assessments (CHNAs) every three years.
responding more quickly to emergencies like COVID-19 than for-profit hospitals.
However, They Are Also Guilty of:
routinely sending medical bills to patients who would qualify for financial assistance (link to Kaiser article).
spending only 60% as much money on charity care than for-profits ($2.30 vs. $3.80 per $100 of total spending).
allowing their CEOs to enjoy a 95% pay increase in the decade 2005--2015.
awarding their CEOs an average compensation of $3.5m in 2017.
taking in 15% more revenue from 2013--2015 while spending 35% less on charity care.
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