Type

Issue

Tag

NYC Hospitals are falling short in their community investments, report claims

A new report from the Lown Institute—a healthcare think tank—suggests that New York City hospitals have not been holding up their end of the bargain when it comes to local tax breaks and community investment. The study looked at 21 hospitals and found that "nine have a Fair Share deficit—meaning that the value of their community investments fails to equal the value of their federal, state, and local tax breaks." The study found that—in total—the nine hospitals are $727 million short of equaling the $1.2 billion in tax breaks they received in 2019. More

9 New York hospitals fall short on giving back to community by $727M: Lown Institute

Nine New York hospitals out of a study of 21 are failing to invest in their communities in an amount equal to the tax breaks they receive on a federal, state and local level, the Lown Institute reported Nov. 16.  The study only examined data from nonprofit hospitals, including nine that are a total of $727 million short of community investments that equal their combined $1.2 billion in tax breaks in 2019. The report dubbed this a "fair share deficit." More

NYC Nonprofit Hospitals Saw High Tax Breaks, Low Community Investments

New York City nonprofit hospitals had a fair share deficit of $727 million in 2019, with nine major facilities spending less on community investments than they received in tax breaks, according to a report from the Lown Institute. In exchange for being exempt from most federal, state, and local taxes, nonprofit hospitals must provide free and discounted care to their communities and invest in community health improvements. More

Are NYC hospitals earning their tax breaks?

A new report examining the finances of nonprofit hospitals in New York City finds that some hospitals fall significantly short on expected community investments. The study includes 21 hospitals and finds that 9 have a Fair Share deficit—meaning that the value of their community investments fails to equal the value of their federal, state, and […] More

Get ready for the 2022 Shkreli Awards!

The Lown Institute's annual Shkreli Awards highlight the most egregious examples of profiteering and dysfunction in our healthcare system. From systemic failures to negligence to fraud, the Shkreli Awards are here to spotlight the worst. On January 10 at 1 pm ET, we will be counting down the top ten most glaring examples of our broken system, and you're invited! More

Dallas-Fort Worth racks up medical debt, even as its hospitals thrive

Regardless of tax status, medical centers in markets with high medical debt do provide more charity care, according to an analysis by KHN and the Urban Institute, a Washington think tank. That’s important, said Dr. Vikas Saini, president of the Lown Institute, a nonprofit that grades hospitals on their quality and community benefits. But he asked: “Is a hospital truly serving its community if it’s pushing so many into debt?” More