During 2022’s Economic Rocky Patch, Health Execs Pocketed Billions: Stat
Stat reports that health care industry executives pocketed, collectively, $4 billion in an otherwise tricky year, economically speaking. Meanwhile, residents in a southern Colorado city are reportedly arguing their nonprofit local hospitals aren't providing enough charity care to justify their status.
Stat:
Health CEOs Hauled In $4 Billion As Inflation Pinched Workers
The health care industry didn’t just provide a safe haven for jittery stock investors in 2022, a year defined by inflation and higher interest rates. It also provided a stable stream of wealth for top executives, who collectively pocketed billions of dollars in what was otherwise a rough patch for the economy. (Herman, Parker, Feuerstein, Lawrence and Ravindranath, 8/17)
In other health care industry developments —
Modern Healthcare:
The Joint Commission Acquires National Quality Forum
The Joint Commission has acquired the National Quality Forum, with the goal of consolidating quality measures and integrating more industry voices into the development of standards. Putting the healthcare improvement organization under the umbrella of the commission should reduce the burden on health systems by eliminating unaligned, competing measures and creating more streamlined and consistent clinical performance measurement, according to the groups. (Devereaux, 8/16)
Health News Florida:
Miami VA Says It's Spending Millions On Fixing AC Problems At Medical Center
As high temperatures rage outside, certain portions of the Miami VA Healthcare System are reaching uncomfortable levels again due to air-conditioning issues. Problems with the AC aren’t new, but the Department of Veterans Affairs said it’s investing millions to remedy the issues. (Zaragovia, 8/16)
KFF Health News:
Doctors Hesitate To Ask About Patients’ Immigration Status Despite New Florida Law
Fearful of risking their jobs, jeopardizing state funding for their institutions, and further politicizing health care, Florida hospital leaders have been reluctant to speak out against a new law that requires them to ask about patients’ immigration status. While Florida joins Kansas, Texas, Mississippi, and a handful of other states in proposing crackdowns on immigrants lacking legal residency, no other state has mandated that hospitals question patients about their citizenship. (Chang, 8/17)
KFF Health News:
Community With High Medical Debt Questions Its Hospitals’ Charity Spending
As 41% of American adults face medical debt, residents of this southern Colorado city contend their local nonprofit hospitals aren’t providing enough charity care to justify the millions in tax breaks they receive. The two hospitals in Pueblo, Parkview Medical Center and Centura St. Mary-Corwin, do not pay most federal or state taxes. In exchange for the tax break, they are required to spend money to improve the health of their communities, including providing free care to those who can’t afford their medical bills. Although the hospitals report tens of millions in annual community benefit spending, the vast majority of that is not spent on the types of things advocates and researchers contend actually create community benefits, such as charity care. (Hawryluk, 8/17)
