News & Analysis Business and Financial In the News: Power of Nonprofit Hospitals Increasing
| In the News: Power of Nonprofit Hospitals Increasing |
 |
 |
| Written by Staff |
| Friday, 29 August 2008 12:08 |
|
The power of nonprofit hospital systems over regional communities has
"increased in recent years as their incomes have surged," the Wall Street Journal
reports in its Aug. 28 edition. The result, say critics, is the
creation of "untaxed local health-care monopolies" that are at least
partly responsible for higher healthcare costs.
In the article, the WSJ examines the case of nonprofit Carilion Health System in Roanoke, Va., which merged with another local hospital in 1989. The U.S. Department of Justice, in trying to block the merger, had warned that a monopoly for medical care in the region could be created. Nearly 20 years on, Carilion Health System is reporting profits of $107 million, tax exemptions of $50 million and charity care costs of $42 million. Further, charges for procedures at the hospital far exceed those at other facilities: "Carilion charges $4,727 for a colonoscopy, four to 10 times what a local endoscopy center charges for the procedure," reports the WSJ. "Carilion bills $1,606 for a neck CT scan, compared with the $675 chargd by a local imaging center." Read "Nonprofit Hospitals Flex Pricing Power" in full.  |
- Top 10 Grossing Non-Profit Hospitals
- Benchmarks for Hospital Profit Margin and Cash-to-Debt Ratio by Facility Size
- 20 Hospital CFOs to Know
- 21 Companies Hospitals and Surgery Centers Should Know
- Why a New Public Plan Will Not Improve American Health Care
- Cuts Expected For 2010 Private Medicare Rates
- 5 Tips for Hospital Valuation in Today's Economy From David Felsenthal of Principle Valuation
- 15 Hospitals and Health Systems With Great Cardiovascular Programs
- Healthcare Executive Salary Increases to Moderate in 2009
- 10 Shoulder Specialists to Know
- Louisiana Cardiologist Sentenced to 10 Years in Prison for Healthcare Fraud
- Brooklyn's Brookdale University Hospital Lays Off 240 Workers
- Hospital Employment of Physicians: What Works and Doesn't Work is Very Clear
- Interesting Statistics on the Impact of the Economy on Hospital Finances
- 11 Hospitals With Great Oncology Programs
