(JUST THE NEWS) – North Carolina’s largest nonprofit hospital systems recorded billions in net profits during the pandemic as they collected $1.5 billion in taxpayer-funded COVID relief, all while billing more dollars to impoverished patients eligible for charity care, according to a new report.
State Treasurer Dale Folwell gathered with health care experts, lawmakers and academics on Wednesday for a press conference in Raleigh to unveil a new report titled “North Carolina Hospital Systems Profit During COVID.”
The document details how the state’s dominant nonprofit hospital systems took COVID relief dollars meant for struggling hospitals while recording billions of dollars of growth in cash and investments, while only dedicating a sliver of the windfall to increasing charity care to patients.
