OPEN THE BOOKS IS A GREAT WEBSITE THAT REVEALS GOVERMENT SPRNDING AND WASTE. THE LINK BELOW LOOKS AT 82 NON FOR PROFIT HOSPITALS AND REVEALS SOME EYE POPPING INFORMATION.
In households across America, healthcare costs are crushing the American dream. The average family now pays nearly
$20,000 annually between insurance premiums, deductibles,
and out-of-pockets costs.
In 1970, healthcare amounted to seven-percent of gross
domestic product (GDP). Today, estimates suggest the soaring
cost of healthcare will consume 20-percent of our GDP.
Our OpenTheBooks Oversight Report – Top 82 U.S. Non-Prof-it
Hospitals, Quantifying Government Payments & Financial
Assets studied the largest charitable healthcare providers. Last
year, patients spent roughly 1 out of every 7 U.S. healthcare
dollars within these healthcare networks. Many are household
names: Mayo Clinic, Cleveland Clinic, Kaiser Foundation, Dignity Health, and Partners HealthCare.
These powerful institutions are organized as public charities –
not as for-profit corporations. Their mission is to deliver the
latest in medical technologies and affordable healthcare to
their communities. Any “profits” must be re-invested into their
However, these 82 non-profit medical providers are making
big money. Last year, their combined net assets increased from
$164.2 billion to $203.1 billion – that’s 23.6-percent growth.*
Meanwhile, their executives are highly compensated. The Banner Health Chief Executive Officer and President earned $21.6
million and their Executive Vice President and CAO made $12
million last year. Top executives at Memorial Hermann Health
System, Kaiser Health, Ascension, Advocate Health Care, and
Northwestern Memorial made between $10 million and $18
For comparison, our analysis also includes the five largest pubcly traded for-profit U.S. hospitals. These five corporations
had $96 billion in revenues last year with net asset growth of
$600 million: an increase in assets from $40.1 billion to $40.7
billion year-over-year (1.5% increase).
Taxpayers deserve to know whether our non-profit healthcare
providers, which use our laws to structure themselves as charities, are truly working for patients. After all, these non-profits
pay no income taxes, or property taxes, and raised over $5
billion last year in tax-deductible contributions from donors.