NMA says “Not-for-profits are not the answer”

The New South Wales Nurses and Midwives' Association says “Not-for-profits are not the answer.” NMA says “St. Vincent’s travails highlight a common misconception about not-for-profit hospitals. Not-for-profit suggests they don’t care about making money—which they do. In fact, which they must. They are subject to the same economic laws as other entities running complex organizations like a hospital. (…) Some of the American not-for-profit hospitals are massive businesses. The famous Cleveland Clinic has annual revenue of $7.2 billion and has over 50,000 employees. Its 2016 profits were $514 million. Over four years it made $2.7 billion in profits. Its CEO, Toby Cosgrove, an adviser to Donald Trump, earned a tick under $US5 million a year.”

Published on

Mar 18, 2018




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