Skip to comments.Twenty large hospital chains in the US received $5BILLION in federal aid amid coronavirus outbreak despite sitting on over $100billion in cash reserves - as desperate rural hospitals plead for more help
Posted on 05/25/2020 12:48:19 PM PDT by knighthawk
Nearly two dozen large hospital chains received more than $5billion in federal grants under the CARES Act, even though they already sit on over $100billion in cash.
The Providence Health System, one of the nations largest and richest hospital chains based in Seattle, received at least $509million in government funds meant to help health care providers from going under during the coronavirus pandemic.
But Providence Health is already sitting on nearly $12billion in cash which it invests and in turn generates more than $1billion in profits from in a good year, according to a New York Times report.
(Excerpt) Read more at dailymail.co.uk ...
Stop the checks!
Definitely some winners and losers here.
Hip Hip hoorah
Hospitals, dentists, and other non-corona medical centers/personnel are hurting around the country. Many deserve help - large and small alike.
Health insurance companies are making big bucks. They are charging full premiums for health insurance, while most doctor’s offices are closed. Kaiser Permanente hasn’t reopened eye appointments or much else.
These hospitals emptied out as directed, cancelled all
elective services, and placed all hands on deck. Then
Now folks want to blame them for being in desperate shape.
Does anyone even try to think anymore?
Whoever in government allowed these huge PPP payments to unqualified or dishonest corporations should be identified and held accountable. Certainly human eyes examined each of the improper payments. Who allowed it to happen?? Name names!! Investigate! Was there quid pro quo involved? - how much kickback was involved?? Ask questions??
Socialized countries and those with socialist-leaning minds just don’t get the concept of independent hospital networks. It’s so far outside the take-a-number-and-que nationalized everything they have grown up with they can’t wrap their heads around it - until they see the salaries of our medical personnel. Even then most can’t make the connection.
It’s not free. Now, should they have prepared for the
projected pandemic, or should they have just told folks to
go pound sand who had it?
If you’re running a hundred million dollar enterprise and
the federal government tells you to stop all elective
surgeries and procedures, what do you do when very few people
show up with the disease, and you’ve just run 100% of your
business off the property?
What do we do, just close major medical centers by the hundreds?
I’m mortified to realize how much our national debt is
growing right now. I honestly don’t know what the
answer is, but I do not think it’s the “evil” hospitals
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