Several of the largest hospital chains in the U.S. secured funding through government programs for COVID-19 relief as smaller practices struggled to do the same, Reuters reports.
What you should know:
1. The largest for-profit hospital operator to receive funding, Nashville, Tenn.-based HCA Healthcare, received $5.3 billion in loans and grants while the second-largest chain, Dallas-based Tenet Healthcare, received more than $2 billion.
2. Both HCA and Tenet have told investors patient volumes are recovering in their primary markets.
3. Some health policy experts interviewed by Reuters said chain operators and large health systems have been "benefiting disproportionately" from government relief, while smaller facilities are struggling.
4. For example, the National Rural Health Association said 12 rural hospitals have closed this year, with four closures taking place in April.
Kaiser Family Foundation senior fellow Karyn Schwartz said, "These large for-profit hospitals have access to capital that smaller facilities and safety-net hospitals don't have."
5. Federal officials told Reuters hospitals receiving funds will have to submit documentation to show the money was used appropriately, and that future funds will be allocated to safety-net hospitals and clinics affected by the pandemic.