Some of America’s wealthiest hospital systems ended up even richer, thanks to federal bailouts
As the crisis crushed smaller providers, some of the nation’s richest health systems thrived, reporting hundreds of millions of dollars in surpluses after accepting huge grants for pandemic relief.
Last May, Baylor Scott & White Health, the largest nonprofit hospital system in Texas, laid off 1,200 employees and furloughed others as it braced for the then-novel coronavirus to spread. The cancellation of lucrative elective procedures as the hospital pivoted to treat a new and less profitable infectious disease presaged financial distress, if not ruin. The federal government rushed $454 million in relief funds to help shore up its operations.
How the US Invested in the War on Terrorism at the Cost of Public Health
Here’s one big takeaway from our country’s disastrous 2020 covid response: For 20 years, we’ve lavished attention and money on fighting human terrorism and forgot that the terrorism of nature is equally deadly, deserving equal preparation.
Today, with more than 545,000 U.S. covid deaths, I hope we’ve learned the huge cost of allowing our public health structure to wither as we single-mindedly pursued the decades-long war on terror. Slowly, with no one much paying attention, here’s how it happened.