From the Sinclair Broadcast Group:
A common refrain from healthcare providers is they have a tough time staying profitable -- often pointing out Medicare and Medicaid don’t pay them enough.
It turns out that may not be the case, according to a new watchdog report on non-profit hospitals.
For patients the cost of premiums, deductibles and out of pocket costs can add up-by some estimates $20,000 a year for the average family. But it turns out that non-profit hospitals – which are viewed as charities and don’t have to pay income or property taxes – are raking in the cash.
In a new oversight report from Open The Books, auditors found that the combined net assets of 82 non-profit medical providers increased from 164 billion to 203 billion. That is more than a 23 percent rate of growth.