Some Hospitals Have a Lot of Money

I found this article, Amid coronavirus distress, wealthy hospitals hoard millions, interesting. Many hospitals cry poor mouth when they ask for better rates via Medicare or Medicaid from the government. They say they never have enough money to pay doctors so they replace them with noctors. Physicians hear this all the time at meetings yet somehow executive pay always increases and there are more cranes outside the hospital expanding the facility.

Here are a couple of bits from the piece:

  • At that time, Inova told its bondholders it had $3.1 billion in investments it could liquidate within three days. 
  • As of December, Trinity had $9.6 billion in cash and investments, enough to operate for six months. It also reported credit lines totaling $1.2 billion. 

I know some hospitals are going to be hurting financially from this pandemic. That is not a lie. The true test will be what they do when the bailout money and regular income comes back to them. It will speak volumes about trust, integrity and honesty.

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Douglas Farrago MD

Douglas Farrago MD is a full-time practicing family doc in Forest, Va. He started Forest Direct Primary Care where he takes no insurance and bills patients a monthly fee. He is board certified in the specialty of Family Practice. He is the inventor of a product called the Knee Saver which is currently in the Baseball Hall of Fame. The Knee Saver and its knock-offs are worn by many major league baseball catchers. He is also the inventor of the CryoHelmet used by athletes for head injuries as well as migraine sufferers. Dr. Farrago is the author of four books, two of which are the top two most popular DPC books. From 2001 – 2011, Dr. Farrago was the editor and creator of the Placebo Journal which ran for 10 full years. Described as the Mad Magazine for doctors, he and the Placebo Journal were featured in the Washington Post, US News and World Report, the AP, and the NY Times. Dr. Farrago is also the editor of the blog Authentic Medicine which was born out of concern about where the direction of healthcare is heading and the belief that the wrong people are in charge. This blog has been going daily for more than 15 years Article about Dr. Farrago in Doximity Email Dr. Farrago – [email protected] 

  1 comment for “Some Hospitals Have a Lot of Money

  1. arf
    April 30, 2020 at 4:58 am

    I’ve been seeing claims, but just Internet chatter. Is there a a bump in pay from the payouts, or the government, if a COVID19 diagnosis is added? In other words, patient admitted with respiratory distress, gets treatment, ICU and ventilator support. Same services, hospital gets paid “X” if the diagnosis is respiratory failure secondary to community-acquired pneumonia or influenza, but paid “2X” if diagnosis is respiratory failure secondary to COVID19.
    I don’t do hospital work anymore, I have no idea.
    Is this just more Internet rumor mongering, or is there anything to this claim?

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