Radiology Business November 12, 2024
Radiologists and other physicians want increased scrutiny around hospitals’ nonprofit status, the American Medical Association said Monday.
Docs at the AMA’s Interim Meeting in Orlando, Florida, have voted to support greater oversight of nonprofit hospitals and to standardize charity care policies so that financial assistance “reaches patients in need.”
Earning this key designation exempts institutions from paying income, property and sales taxes. This results in billions of dollars of savings each year, with the tradeoff that hospitals provide free care and other services to the less fortunate. However, nonprofit status may be subject to abuse, the AMA noted. About 80% of nonprofit hospitals give back less to their communities than they receive in estimated tax breaks, with some...
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