Morning Briefing
Summaries of health policy coverage from major news organizations
Demand For Transparency Rises As Nonprofit Hospitals Start To Resemble Big Business
Investors want more disclosure of nonprofit hospitals’ increasing reliance on loans from private banks, the terms of which aren’t public but could trigger defaults for municipal bonds.
Late last year, a hospital operator with $14 billion in annual revenue sent a team of executives to Boston to schmooze with investors during lunch. For most of corporate America, such events aren’t unusual. But this large hospital is a nonprofit. As Trinity Health of Livonia, Mich., shows, more nonprofits are starting to resemble big business. In health care, where nearly 60% of hospital operators are private nonprofits, recent consolidation has created large organizations that span several states, with multibillion-dollar budgets and tens of thousands of employees. (Evans, 5/18)
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