Saturday, August 7, 2010

Are nonprofit hospitals truly not for profit?

Minnesota-based United Healthcare is the largest health insurer in the United States, with profits of $3.8 billion in 2009. Adventist Health System, which operates Florida Hospital system, is the largest nonprofit Protestant health-care provider in the nation, operating 37 hospitals in 12 states and generating $363 million in profit in 2009.

Today's nonprofit hospitals — which make up slightly more than half of the nation's 5,000 community hospitals — are trying to juggle the demands of making money with being a charitable organization.

For legislators across the country, there's growing tension that massive nonprofit-hospital organizations don't pay any taxes.

In 2008, in documents provided to the state of Florida, Florida Hospital reported spending $442 million — or 7 percent of its patient revenues — on charity care. Its competitor, nonprofit Orlando Health, spent $213 million — or 4 percent of its patient revenues — on charity care.

1 comment:

  1. An eye opening Article, Imagine the kind of Money these Healthcare Companies & Hospitals are making.