Guest post from Jack Iannantuono, CFP®, ChFC®, MSFS, AIF® | Indicon, Inc.:
Being jealous of Romney, when Pennsylvania Governor Ed Rendell launched his State run health care system in his second term, I was asked to present for a legislative hearing held at Mercy Hospital in Norristown.
The CEO of Lankenau Hospital, another presenter, mentioned he already had about 8000 sq. feet of office space and about 25 staff reporting to the state and federal govt and Rendell Care, based on his analysis would double both the sq. feet and the number of staff.
That was prior to the EMR initiative, also prior to Obamacare.
Nevertheless, with the Hospital Empires running at about 75% of gross revenue from Medicare they are mere annex’s of the govt.
UPMC …..It is now up to $12 billion …in a metro area of just about 1 million with 75% of the 12 billion dumping in from Medicare: Doesn’t include other mega hospitals in the area or Highmark….Pittsburgh is basically a medical welfare state.
The University of Pittsburgh Medical Center (UPMC) is a $10 billion integrated global nonprofit health enterprise that has more than 62,000 employees, 21 hospitals with more than 5,100 licensed beds, 400 clinical locations including outpatient sites and doctors’ offices, a 2.3 million-member health insurance division, as well as commercial and international ventures. UPMC is closely affiliated with its academic partner, the University of Pittsburgh. It is considered a leading American health care provider, as its flagship facilities have ranked in US News & World Report “Honor Roll” of the approximately 15 to 20 best hospitals in America for well over a decade. As of 2013, UPMC is ranked 10th nationally among the best hospitals (and second in Pennsylvania) by US News & World Report and ranked in 15 of 16 specialty areas, including eight specialties for which UPMC placed in the top 10. This does not include Children’s Hospital of Pittsburgh of UPMC which ranked in the top 10 of pediatric centers in a separate US News ranking.