Support our online development, and advance our onground research initiatives in free market economics, as we seek to showcase the brightest Next-Gen minds.
THE ME-P DISCLAIMER: Posts, comments and opinions do not necessarily represent iMBA, Inc., but become our property after submission. Copyright © 2006 to-date. iMBA, Inc allows colleges, universities, medical and financial professionals and related clinics, hospitals and non-profit healthcare organizations to distribute our proprietary essays, photos, videos, audios and other documents; etc. However, please review copyright and usage information for each individual asset before submission to us, and/or placement on your publication or web site. Attestation references, citations and/or back-links are required. All other assets are property of the individual copyright holder.
Raising the Ethical Bar
Staff Reporters
According to the Wall Street Journal, December 18 2008, Senator Charles Grassley – ranking Republican on the Senate Finance Committee – is weighing proposing legislation in early 2009 that would hold nonprofit hospitals more accountable for the billions of dollars in annual tax exemptions they enjoy.
Minimal Levels of Care Sought
The legislation would require non-profit hospitals to spend a minimum amount on charity care, and set curbs on executive compensation and conflicts of interest. Disclosure requirements would also be increased.
Assessment
Under the new legislation, penalties would be imposed on nonprofit hospitals that fail to meet the new requirements, while penalties could escalate from taxes and fines to stripping a hospital of its federal-tax exemption if it continues to misbehave.
Conclusion
And so, your thoughts and comments on this Medical Executive-Post are appreciated.
Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com or Bio: www.stpub.com/pubs/authors/MARCINKO.htm
Our Other Print Books and Related Information Sources:
Practice Management: http://www.springerpub.com/prod.aspx?prod_id=23759
Physician Financial Planning: http://www.jbpub.com/catalog/0763745790
Medical Risk Management: http://www.jbpub.com/catalog/9780763733421
Healthcare Organizations: www.HealthcareFinancials.com
Health Administration Terms: www.HealthDictionarySeries.com
Physician Advisors: www.CertifiedMedicalPlanner.com
Subscribe Now: Did you like this Medical Executive-Post, or find it helpful, interesting and informative? Want to get the latest E-Ps delivered to your email box each morning? Just subscribe using the link below. It’s free. You can unsubscribe at any time. Security is assured.
Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos
Share this:
Filed under: Ethics, Health Insurance, Healthcare Finance, Quality Initiatives | Tagged: charity care, non-profit hospitals, pro-bono medical care |
The Leading Business Education Network for Doctors, Financial Advisors and Health Industry Consultants 
More on Non-Profit Hospitals and Credit Downgrades
Here’s more evidence, according to Ann Zieger of Fierce Health Finance on 2/4/09, that not-for-profit hospitals are facing tough times.
Last year, Moody’s Investors Service reported that not-for-profit credit downgrades exceeded upgrades by a margin not seen since 2003; what’s more, they faced the largest number of downgrades since 2001.
And, with unemployment rising, investment returns still questionable and capital hard to obtain, Fitch too reported not-for-profit hospitals are under great stress with expected decrease in Medicaid reimbursement, and growing unemployment. Given these stresses, Fitch predicted that not-for-profit hospital credit ratings will drop through July 2010 or January 2011, worsening the not-for-profits’ plight.
Meanwhile, reserves for some hospitals may end up being sapped if they’re forced to repay variable-rate demand bonds, which could happen if their debt drops below levels required by bond covenants.
Joe
LikeLike
According to a new analysis by The Lewin Group, under a health reform draft currently under consideration by Congress, the number of uninsured Americans would fall dramatically, by about 32. 6 million, and premiums for a “public option” plan would be an average of 20 percent less than private plans for families.
http://www.hfma.org/hfmanews/PermaLink,guid,4213e48f-98c6-4238-9c63-436ed7aad6ba.aspx
Now, isn’t the Lewin Group owned by UHC?
Tabor
LikeLike
IRS and Tax Exempt Guidelines
On July 23, 2009, the Internal Revenue Service (IRS) released new governance training materials to provide guidance to agents concerning key issues to scrutinize when reviewing the governance of nonprofit hospitals and other exempt organizations
Click to access IRSPublishes.pdf
Ann Miller; RN, MHA
[Executive Director]
LikeLike
You Can’t Make up this Stuff!
Writing for The (Bergen County) Record and NorthJersey.com, Lindy Washburn used recent tax filings to discover millions in severance pay given to the executives of Hackensack University Medical Center, an area nonprofit hospital. The kicker? The top executives got this money while being forced out, in part because the hospital board had been shocked to discover just how much they’d been paying the executives.
http://www.northjersey.com/news/health/hospitals/112365189_Severance_raised_hospital_chief_s_pay_to__7_7M.html
Randall
LikeLike
On Non-Profit Hospitals
Essay on executive salaries that top $1-M.
http://www.healthjournalism.org/blog/2011/02/wash-hospital-executive-salaries-may-threaten-nonprofit-status/
These guys are surely not non-profit, are they?
Mary
LikeLike