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Hospitals measure their charity care based on their charge master at gross fees. They do not collect anywhere near their gross fees so their measure of charity care is grossly overstated. I believe their true net charges would be approximately 33% of their gross charges. Since the net charge is really what they can expect to collect charity care should be measured on the same metric. However, by using this “overstated” number they look more charitable.
Yep, exactly.
Amen Michael. .. If the IBJ was truly interested in deep dive journalism, they (John Russell) would have included some form of your analysis/comments in their article. It should not be enough for a reputable business journal to simple regurgitate financial statistics provided by a source without doing some level of smell test analysis.
Okay, to be fair, John is a darn good reporter, and he did include solid “surrounding state” data, but he really missed calling out the IHA on their self-serving overstated numbers.
Consider writing a letter to the editor so this analysis could be published. It’s very important information
I’d like to see the salaries of the CEOs of these alleged nonprofits.
The IHA contends they do pay taxes. What taxes do these nonprofit hospitals pay?
Payroll taxes? Maybe sales tax for the supplies purchased?
Many years ago I used to work for a hospital. In years where healthcare wasn’t so profitable, the profit from the investment of this cash reserve would often make up the difference.
It would be interesting so look at other institutions out of state and see how Indiana compares on cash reserves, And if there are significant differences, is that because of state laws?
I will have to say that IU is sitting on a gross amount of cash!
Senator Holdman is being hypocrytical as the State itself is sitting on billions of dollars in their “rainy day fund”. So it is OK for the State to sit on billions but not a business? Also you need to tak einto consideration IUH has more employees at higher salleries that the State.
As for Ascension and Fransiscan, these are national systems, are the reserves just for their Indiana operations or for their national operations? This will make a huge difference in how this data can be interpretted.