Quantifying Government Payments and Financial Assets
Our OpenTheBooks Oversight Report – Top 82 U.S. Non-Profit Hospitals, Quantifying Government Payments & Financial Assets studied the largest charitable healthcare providers. Taxpayers deserve to know whether our non-profit healthcare providers, which use our laws to structure themselves as charities, are truly working for patients.
The public should start by asking the most basic question:
Isn’t it time to open the books and post online all prices actually paid by patients?
1. The 82 largest U.S. non-profit hospitals recorded revenues of $296.6 billion for their primary entity in FY2017 (or latest year available). The largest systems ranked by revenues are Kaiser Foundation, Oakland, CA ($54 billion); Partners HealthCare, Somerville, MA ($12.7 billion); University of Pittsburgh Medical Center Group, Pittsburgh, PA ($12.5 billion); MayoClinic, Rochester, MN ($11.1 billion); and Dignity Health, San Francisco, CA ($9.9 billion).
2. Average net asset growth year-over-year for the 82 non-profit hospitals was 23.6 percent: $164.2 billion grew to $203.1 billion. The largest percentage increases in net assets were individually recorded by Ascension Health, St. Louis, MO(1211%); Highmark Health, Pittsburgh, PA (271%); Baylor Scott & White Health, Dallas, TX (247%); and Texas Health Resources, Arlington, TX (146%).
3. The 82 large non-profit healthcare providers paid out $297.5 million in compensation to their single most highly compensated employee. On average, the top executive in each organization made $3.5 million.
Here are the top five earners by non-profit provider: Banner Health, Phoenix, AZ ($21.6 million); Memorial Hermann Health, Houston, TX ($18.2 million); Ascension, St. Louis, MO ($13.6 million); Kaiser Foundation, Oakland, CA ($10.7 million); and Northwestern Memorial HealthCare, Chicago, IL ($10.6 million).
4. For comparison, the five for-profit corporations had revenues of $96 billion with disclosed expenses of $80 billion. Their net assets increased by $600 million last year – an increase in assets from $40.1 billion to $40.7 billion (1.5 % growth). The most highly compensated executive was Tenet HealthCare Corporation CEO who made $6.3 million. Furthermore, Medicare/Medicaid comprised 25 percent of their annual revenues.