'Unlimited dollars': how an Indiana hospital chain took over a region and jacked up prices
This article is long, but it’s an important look at how for-profit healthcare organizations are gaining power and raising prices while also denying care. We need to stop giving tax advantages to these organizations in return for care for the poor and just tax them as the actual profit-making corporations they are. This Indiana company called Parkview is just detestable in its business practices. They are an argument for universal healthcare and big changes in how we tax such groups.
“Not-for-profit healthcare has been good business for Parkview as it has been for hundreds of other ostensible charities across the US which operate nearly half of the nation’s hospitals. In exchange for generous tax breaks, these institutions are required to provide free and discounted care to poor patients, but many have faced criticism for skimping on charity care, demanding high prices and giving executives exorbitant salaries.
Since 2019, Parkview has raked in more than $2bn in revenue annually, enabling the system to give dozens of its executives and top doctors six and seven figure annual compensation packages. Before his retirement at the end of 2022, Parkview’s longtime CEO, an avowed Christian who publicly styled himself as a “servant” leader, took home nearly $3m from the not-for-profit, according to the system’s last publicly available IRS disclosure.”
https://www.theguardian.com/us-news/2024/oct/17/indiana-medical-debt-parkview-hospital
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