Came across this rather interesting (if a bit
one-dimensional) blog covering "non-profit" religious hospitals making truly
staggering profits. Hell once I saw some of the portfolios these places are
holding with the gains of their "non-profit" profits I wished they were publicly
owned companies so I could buy some stock!
A sample for the non-clickers :
| Not-for-profit Daughters of Charity Health Care System, in California, was
established in 2002.
Their mission statement reads in part, "With Jesus Christ as our model we
advance and strengthen the healing mission of the Catholic Church."
According to reports, one of their hospitals, Seton Medical Center has a cost
-to-charge ratio of 22.31%.
That means they mark up their costs to the uninsured on the average of
448%. |
 |
|
They reported a net income of almost $18.5 MILLION.
Total patient days? 78,517.
Uninsured patient days? 1,853.
Profits from the uninsured, $6,722,036.
So 2.3% of their patients (those without insurance) provided this
not-for-profit hospital 36.2% of their total profits.
Price gouging like this has allowed this small hospital to accumulate over
$19 MILLION in cash, stocks, etc.
They paid their President $430,000 and their CEO $559,414.
This begs the question. What exactly is "the healing mission of the Catholic
Church"?
It looks like it's to maximize profits. Is this what Jesus wants?
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