New: A federal bailout program for hospitals at risk of collapsing during the virus has showered *billions* of dollars on the country's wealthiest hospitals – those with well over $100 billion in cash reserves.
by @JesseDrucker @jbsgreenberg @sarahkliff nytimes.com/2020/05/25/bus…
by @JesseDrucker @jbsgreenberg @sarahkliff nytimes.com/2020/05/25/bus…
Some of the rich hospitals are big publicly traded companies, like @HCAhealthcare @tenethealth. Others are nonprofits – @ClevelandClinic @Ascensionorg @ProvHosp – with so much cash that they engage in Wall St-style investing.
Those five alone got $2.4 billion in bailout money.
Those five alone got $2.4 billion in bailout money.
By contrast – and you will be *shocked* to hear this – hospitals with thin financial cushions and are actually at risk of collapsing because of the coronavirus got tiny amounts that executives say aren't sufficient to keep them afloat. 
This is the latest example of the govt doling out billions to those who seem to need it the least, while others get peanuts.
Don't forget:
• $170 billion in federal tax breaks to rich individuals and giant companies.
• Small-business loans to publicly traded companies.
Don't forget:
• $170 billion in federal tax breaks to rich individuals and giant companies.
• Small-business loans to publicly traded companies.
We just learned that the super-rich @ProvHosp – which received more than $500 million in taxpayer funds – is doing furloughs and likely cutting pay in July. Story is updated to reflect this new info. nytimes.com/2020/05/25/bus…
And here is the story in tomorrow’s print edition.
