We found that the assets, investments, and bank accounts at these charitable hospitals increased by $38.9 billion last year – from $164.1 billion to $203.2 billion. That’s 23.6 percent growth, year-over-year, in net assets. Even deducting for the $5.2 billion in charitable gifts received from donors, these hospitals still registered an extraordinary 20.5 percent return on investment (ROI).
Additionally, these 82 hospitals spent $26.4 million on lobbying to defend the status quo. Because government money and charitable donations can’t be spent directly on lobbying, these hospitals used the payments from patients to lobby government to preserve their market position.
Perhaps these hospitals don’t want you to see how much things cost, because they don’t want you to know how much they are making.
It’s time to embrace the transparency revolution and open the books on the real prices paid by patients for healthcare services.
A primary care physician by training, my passion is researching and writing about maintaining patient-directed choice in medical care, supporting independent physicians, promoting free-market healthcare solutions and seeking sustainable fiscal policy in healthcare.
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