Have you noticed how the defenders of the CCNC Medicaid monopoly constantly refer to CCNC as a nonprofit? It’s meant to lead people to believe CCNC is pure, charitable, above the insurance companies in the money grubbing world of for profit business.
But guess what? For every dollar of revenue CCNC takes in, their revenues exceed their costs by 3.45%. In the real world, that’s called a profit margin. Compare it to the 3.47% profit margin earned by one of the biggest for profit insurance and managed care companies, Anthem.
Anthem is considered for profit. CCNC is considered nonprofit. But they are both earning the same basic margin. And while Anthem is paying taxes, CCNC gets tax breaks.
Now let’s look at the nonprofit hospitals. Duke Health, allegedly a nonprofit, earns an 11% margin. Hospital Corporation of America, one of the biggest for profit chains, earns a 5% margin. And they are fully taxable while Duke is not.
For profit hospitals like HCA have overcharged taxpayers for healthcare services. So have the nonprofits like Duke.
When you read the word “nonprofit” related to CCNC , hospitals, insurance, etc., take it with a grain of salt. Marcus Welby died a long time ago. In the healthcare business, everybody is out for the money. Anyone who has paid a medical bill knows it. It’s the job of Legislators to bust up the monopolies and make sure taxpayers get a fair deal through competition.