Seven North Carolina hospital techniques had file income throughout COVID, report says | WFAE 90.7

North Carolina’s largest hospital techniques made file income in the course of the COVID-19 pandemic, in line with a report launched Wednesday by the state treasurer’s workplace.

The report mentioned seven hospital techniques — Atrium Health, Cone Health, Duke Health, Novant Health, UNC Health, Vidant Health and WakeMed — made a mixed $5.2 billion in internet income in 2021. The techniques, in line with the report, additionally acquired a mixed $1.5 billion in COVID-19 reduction cash.

“The federal government channeled taxpayers’ money to the rich and the powerful hospitals, especially here in North Carolina. (They) did not really need the money in the first place,” mentioned Ge Bai, professor of well being coverage and administration at Johns Hopkins University, who helped assessment the report from the treasurer’s workplace, throughout a Wednesday information convention.

State Treasurer Dale Folwell known as on the hospital techniques to “use their profits to lower costs for patients” or “return unnecessary, taxpayer-funded relief dollars.”

The North Carolina Healthcare Association, which represents the state’s hospitals, in a assertion Wednesday known as the treasurer’s report “politically motivated” and mentioned it was “falsely demonizing” hospital techniques.

“Cherry-picking financial data, and then spinning it, is not reflective of the many immense struggles and challenges facing the hospital field, including a workforce shortage criticism along with skyrocketing costs for supplies, equipment, drugs and labor, and near-historic levels of inflation,” the NCHA assertion mentioned, partly.

Charlotte-based Atrium Health, the town’s largest hospital system, additionally responded to the report with a press release.

“It’s troubling that health systems like Atrium Health are being attacked while we are still caring for communities that are recovering from the pandemic,” Atrium’s assertion learn, partly. “The reality is the $719 million in provider relief funds we have received covers less than half of the adverse $1.55 billion financial impact we have incurred as a result of the pandemic.”

In June 2020, WFAE reported that Atrium had acquired about $191 million in federal grants designed to assist well being care suppliers reply to the coronavirus, in line with a knowledge evaluation by analysis group Good Jobs First. Meanwhile, Atrium’s monetary statements confirmed the hospital system had practically $5 billion in funding accounts in 2018.

At the time, an Atrium spokesperson mentioned the funds, a part of billions in federal reduction included within the Coronavirus Aid, Relief, and Economic Security, or CARES Act, could be used to partially offset “sizable losses caused by the pandemic.”

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