{"id":20470,"date":"2022-06-28T16:09:46","date_gmt":"2022-06-28T20:09:46","guid":{"rendered":"https:\/\/danellaconsulting.net\/?p=20470"},"modified":"2022-06-28T16:09:52","modified_gmt":"2022-06-28T20:09:52","slug":"north-carolinas-biggest-hospital-systems-made-record-profits-while-taking-billions-in-covid-relief-report","status":"publish","type":"post","link":"https:\/\/danellaconsulting.net\/index.php\/2022\/06\/28\/north-carolinas-biggest-hospital-systems-made-record-profits-while-taking-billions-in-covid-relief-report\/","title":{"rendered":"North Carolina&#8217;s Biggest Hospital Systems Made Record Profits While Taking Billions In COVID Relief: Report"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; admin_label=&#8221;section&#8221; _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_row admin_label=&#8221;row&#8221; _builder_version=&#8221;4.16&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text _builder_version=&#8221;4.17.4&#8243; _module_preset=&#8221;default&#8221; text_font_size=&#8221;18px&#8221; header_2_text_color=&#8221;#E02B20&#8243; custom_margin=&#8221;20px||20px||true|false&#8221; header_2_text_shadow_style=&#8221;preset3&#8243; global_colors_info=&#8221;{}&#8221;]<\/p>\n<header class=\"ArticleFull_header__Eyn7V\">\n<footer class=\"ArticleFull_headerFooter__nkAH_\">\n<div class=\"ArticleFull_headerFooter__authorInfo__2eHVs\"><img decoding=\"async\" class=\"ArticleFull_headerFooter__authorPhoto__V1Urb\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/styles\/thumbnail\/public\/pictures\/picture-5.jpg\" alt=\"Tyler Durden's Photo\" \/><\/p>\n<div class=\"ArticleFull_headerFooter__author__28NvM\">BY <a href=\"https:\/\/www.zerohedge.com\/political\/north-carolinas-biggest-hospital-systems-made-record-profits-while-taking-billions-covid\">TYLER DURDEN of ZeroHedge.Com<\/a><\/div>\n<\/div>\n<div class=\"ArticleFull_headerFooter__date__GYv4c\">TUESDAY, JUN 28, 2022 &#8211; 08:40 AM<\/div>\n<\/footer>\n<\/header>\n<div class=\"NodeContent_mainContent__t4rGu\">\n<div class=\"NodeContent_body__6iJOI NodeBody_container__hI8PI\">\n<p><a href=\"https:\/\/www.theepochtimes.com\/north-carolinas-biggest-hospital-systems-made-record-profits-while-taking-billions-in-covid-relief-funds-report_4555373.html?utm_source=partner&amp;utm_campaign=ZeroHedge\"><em>Authored by Katabella Roberts via The Epoch Times,<\/em><\/a><\/p>\n<p><a href=\"https:\/\/www.theepochtimes.com\/t-north-carolina\">North Carolina<\/a>\u2019s largest hospital systems made billions of dollars in profits\u00a0during the pandemic,\u00a0while simultaneously taking $1.5 billion in taxpayer-funded COVID-19 relief funds,\u00a0according to a\u00a0<a href=\"https:\/\/www.shpnc.org\/media\/2905\/download?attachment\">report\u00a0<\/a>released Wednesday by the state treasurer\u2019s office.<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/shutterstock_381538246-700x420.jpg?itok=GXI26Kkf\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/shutterstock_381538246-700x420.jpg?itok=GXI26Kkf\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" class=\"inline-images image-style-inline-images\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/shutterstock_381538246-700x420.jpg?itok=GXI26Kkf\" alt=\"\" width=\"500\" height=\"300\" data-entity-type=\"file\" data-entity-uuid=\"f27525b5-b1dc-4cbb-921d-7faf4a2cf75d\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<div class=\"AdvertisingSlot_desktop__lDlm4 AdvertisingSlot_tablet__MndqJ AdvertisingSlot_placement__b8TLC\">\n<aside id=\"in-content-video\" class=\"\" data-google-query-id=\"CKes0Lb40PgCFYe30QQd_skMwA\">\n<div id=\"google_ads_iframe_\/21841313772,21778456762\/zerohedge\/in_content_video_0__container__\">\u00a0<\/div>\n<\/aside>\n<\/div>\n<p>The report, titled,\u00a0\u201cNorth Carolina Hospital Systems Profit During COVID\u201d was published by\u00a0State Treasurer Dale Folwell who called on\u00a0the hospital systems to \u201cuse their profits to lower costs for patients\u201d or \u201creturn unnecessary, taxpayer-funded relief dollars.\u201d<\/p>\n<p>According to the report, Atrium Health, Cone Health, Duke Health, Novant Health, UNC Health, Vidant Health, and WakeMed made a combined $5.2 billion in net profits in 2021 and recorded\u00a0$7.1 billion in growth in cash and financial investments from 2019 to 2021.<\/p>\n<p><strong>Six of those hospital systems\u00a0enjoyed higher net profits than in the years before the pandemic, the report states.<\/strong><\/p>\n<p>That growth came as the seven hospital systems reportedly took\u00a0$1.5 billion in taxpayer-funded\u00a0<a href=\"https:\/\/www.theepochtimes.com\/t-covid-relief\">COVID relief<\/a>\u00a0meant to help support hospitals who were struggling through the pandemic,\u00a0as well as another $1.6 billion in Medicare Accelerated and Advance Payments from 2020\u20132021.<\/p>\n<blockquote>\n<p><em><strong>\u201cThese systems boasted huge reserves, but they still took the bulk of the relief funds meant for struggling hospitals &#8211; and then failed to dedicate more than a fraction of their windfall to increasing charity care for their suffering patients,\u201d<\/strong><\/em>\u00a0Folwell said in a press release unveiling the report.<\/p>\n<\/blockquote>\n<p>&#8230;<\/p>\n<p><strong>The report further found that despite their reported profits, the hospital systems shared little of it with\u00a0disadvantaged patients, noting that a third of North Carolina hospitals spent less on charity care in 2020 during the peak of the pandemic.<\/strong><\/p>\n<p>Across 104 hospitals, charity care spending rose only $246.5 million from 2019 to 2020, while some hospitals\u00a0increased billing of poor patients that were eligible for charity care.<\/p>\n<p>Atrium Health sued hundreds of patients, according to the report.<\/p>\n<blockquote>\n<p><em><strong>\u201cWhile health care workers suffered on the front lines, hospital executives made billions on Wall Street,\u201d<\/strong><\/em>\u00a0said Folwell.<\/p>\n<p>\u201c<strong>None of these nonprofit systems pay any property, income or sales taxes.<\/strong>\u00a0Many failed to fully honor their charitable mission even when thousands of North Carolinians lost their businesses and their jobs during the pandemic.\u201d<\/p>\n<\/blockquote>\n<p>Folwell is urging the hospital systems to either return the taxpayer money or\u00a0commit to reducing hospital price inflation. The\u00a0Treasurer is also supporting the\u00a0<a href=\"https:\/\/www.ncleg.gov\/BillLookUp\/2021\/h%201039\">Medical Debt De-Weaponization Act<\/a>\u00a0which aims to bolster\u00a0accountability, transparency and consumer protections on medical debt.<\/p>\n<blockquote>\n<p><em><strong>\u201cWe have a duty to hold hospital executives accountable for wrecking the financial health of thousands of patients and transferring wealth from citizens to them,\u201d<\/strong><\/em>\u00a0Folwell added.<\/p>\n<\/blockquote>\n<p>&#8230;<\/p>\n<p><a href=\"https:\/\/www.theepochtimes.com\/north-carolinas-biggest-hospital-systems-made-record-profits-while-taking-billions-in-covid-relief-funds-report_4555373.html?utm_source=partner&amp;utm_campaign=ZeroHedge\"><em>Read more here&#8230;<\/em><\/a><\/p>\n<\/div>\n<\/div>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n<span class=\"et_bloom_bottom_trigger\"><\/span>","protected":false},"excerpt":{"rendered":"<p>BY TYLER DURDEN of ZeroHedge.Com TUESDAY, JUN 28, 2022 &#8211; 08:40 AM Authored by Katabella Roberts via The Epoch Times, North Carolina\u2019s largest hospital systems made billions of dollars in profits\u00a0during the pandemic,\u00a0while simultaneously taking $1.5 billion in taxpayer-funded COVID-19 relief funds,\u00a0according to a\u00a0report\u00a0released Wednesday by the state treasurer\u2019s office. \u00a0 The report, titled,\u00a0\u201cNorth Carolina [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10807,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","_eb_attr":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[26,22,12,28,21,8,25],"tags":[],"class_list":["post-20470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-covid","category-financial","category-genocide","category-great-awakening","category-health","category-royally-screwed","category-vaccines"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - 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