Tuesday, March 14, 2006  
 

SPOTLIGHT RETURNS ON PRICE-GOUGING, PROFIT-MAKING RELIGIOUS HOSPITALS  
 

Advocacy Group Launches New Website and Places Two-Page Ad in Influential “American Spectator” Magazine

WASHINGTON, DC—On the eve of hearings on hospital price transparency by the U.S. House Energy and Commerce Committee, Consejo de Latinos Unidos, a national advocacy group that educates and assists the uninsured, launched a new website today www.churchhospitaltruth.com after placing a two-page advertisement touting the site in the influential American Spectator magazine, widely read by policy wonks in the Bush Administration and on Capitol Hill.

“Why are health care costs soaring through the roof? It’s simple as A + B + C,” the ad begins. The Ad then lists the alleged perpetrators: A for Adventist hospitals, B for Baptist hospitals, C for Catholic hospitals. The ad then lists some startling facts:

Not-for-profit Seventh-Day Adventist Florida Hospital has reported making $174.5 million in profits over the past 2 years—without paying a single dime in taxes while spending $763,643 on collection agencies last year.

The top 5 executives of not-for-profit Seventh-Day Adventist/West increased their total compensation by $7.9 MILLION in just 2 years (2001-2003).

Not-for-profit Baptist Health South Florida reported making a profit of $234.7 MILLION during over the past two years.

In just two years (2003-2004), the 7 largest not-for-profit Catholic health systems in the entire country reported making a combined profit of $3.1 BILLION—without paying a single dime in taxes—and have accumulated $20.9 BILLION in cash investments.

Henry Walker, the retired CEO of Providence Health, received $6.6 MILLION in total compensation for the year ending 12/31/04.

At Nazareth Hospital in Philadelphia, they charge $10,000 for services that actually cost them only $1,344 to provide, a markup of 744%!

Religious hospitals have been under fire for price gouging the uninsured, paying their executives excessively, and making huge profits while hiding behind the cloak of religious or charitable purposes. The IRS and Congress are investigating their behavior and tax-exempt status.

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