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Please share your hospitals success story. Considering that Medicare pays about 80% the rate of a PHI, just a little above Medicaid, and you are able to run a 15-20% profit which would be a 35-40% profit rate using PHI alone which is around 700%-1400% more then the average hospital as per Medicare which puts the national average at a little over 2% (2003).
Medicare outpatient fees are where the bulk of our profits lie. This includes all sorts of outpatient procedures, testing and facility fees. 5 years ago the hospital bought all our medical groups ancillary facilities and equipment in order to capture more local patients, mainly Medicare. We get good money when we can with conventional payers, but the bulk of our moneys are in Medicare. Being an efficiently run rural hospital with a local monopoly in a retirement community helps our hospital continue as the proverbial cash cow for whatever entity has owned us over the years.
Here are some fairly recent but incomplete numbers.
Medicare outpatient fees are where the bulk of our profits lie. This includes all sorts of outpatient procedures, testing and facility fees. 5 years ago the hospital bought all our medical groups ancillary facilities and equipment in order to capture more local patients, mainly Medicare. We get good money when we can with conventional payers, but the bulk of our moneys are in Medicare. Being an efficiently run rural hospital with a local monopoly in a retirement community helps our hospital continue as the proverbial cash cow for whatever entity has owned us over the years.
Here are some fairly recent but incomplete numbers.
the federal govt kicks back rural hospitals X millions per hospital.
It's hard to tell the specifics. Plus Medicare provides what's called "pass through" kick backs to keep surgical services functioning.
So without knowing the specifics of each hospital. It's hard to tell how well a hospital is doing once you remove the federal additional money that non rural, non indigent hospital do not get.
The welfare spending on housing and food stamps going to minimum wage workers.
Those corporations are being paid for services and products rendered. The government isn't giving them money for nothing like they do with all the public assistance program spending on unproductive and non-contributing adults and their dependents.
Those corporations are being paid for services and products rendered. The government isn't giving them money for nothing like they do with all the public assistance program spending on unproductive and non-contributing adults and their dependents.
So... tax breaks, loopholes and not raising the minimum wage (so that your employees qualify for food stamps) don't count as corporate welfare?
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