matthew’s-well-being-care-tidbits

Matthew’s effectively being care tidbits

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Each week I’ve been together with a brief tidbits half to the THCB Reader, our weekly publication that summarizes the right of THCB that week (Enroll proper right here!). Then I had the brainwave in order so as to add them to the weblog. They’re fast and infrequently not too sweet!–Matthew Holt

On this week’s effectively being care tidbits, we’re discussing hedge funds. Not these small personal equity funds which could be defunding small safety net hospitals and being uncovered by Propublica & PBS Frontline. (Did you catch #TCHBGangster Jeff Goldsmith on the latter?). No, I’m talking about huge non-profit hedge funds that moreover current some effectively being care suppliers. This week two of them reported outcomes.

Famed regional hedge fund Mayo Clinic’s effectively being suppliers enterprise reported $243m income on $3.7bn revenue for Q1 2021. Not exactly Apple margins, nevertheless an honest 6.5%. Whereas catholic nationwide hedge fund Ascension eeked a $700m income on $20bn of revenue throughout the 9 months June 2020 to March 2021. The good news is that Mayo has $15bn in its foremost shopping for and promoting account whereas in these 9 months Ascension made $4.3 Billion on Wall Street bringing its steadiness to a healthful $25.6 Bn.

And within the occasion you had been concerned that these hedge funds had been in problem as a result of pandemic, properly not solely do they steer clear of property, earnings tax and additional moreover they acquired a great deal of help from the taxpayer. CMS pay as you go $2billion of Medicare funds to Ascension; presumably they made a tad further having fun with the markets with that. Then there’s the non-refundable CARES Act grants. Positive Ascension has been paid $900m since June 2020 ($1.1billion in all) and Mayo obtained $356m, although they’d been good adequate to pay $138m once more.

I’m sure these People who misplaced their jobs, their properties and waited for months for presidency help are glad that–whatever the pandemic–these hedge funds weren’t having to dip into their foremost reserves to keep up their effectively being suppliers subsidiaries going…..

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