From today’s Wall Street Journal: "Nonprofit Hospitals, Once For the Poor, Strike it Rich."
It has long, and often, been argued here on THCB and so many other places, that if we simply ‘take the profit motive out’ of health care, the system will get better, people will be healthier, costs will go down, and cats and dogs will no longer fight.
Others have called for a “Hill-Burton Act” for health care technology, in reference to the federal law which gave favorable treatment to hospitals.
Here is my favorite quote, from the end of the article:
"Nonprofit is a misnomer — it’s nontaxable," says Sacred Heart Hospital’s Mr. Novak. (No relation to me, BTW) "When you’re making hundreds of millions of dollars a year, how can you call yourself a not-for-profit?"