Cares Act, Coronavirus Aid Relief and Economic Security Act, Coronavirus Response and Relief Supplemental Appropriations Act, Dale Folwell, Medicare, North Carolina, North Carolina State Health Plan, North Carolina state treasurer, profit, profit margin,

Abstract

No abstract available. Article truncated after 150 words. The VA patient waiting scandal in Phoenix is well documented. What is also well documented is that at least 70% of VA medical centers were engaged in similar schemes. Now a report prepared for the North Carolina State Treasurer’s Office revealed that many state hospitals and lobbyists are also guilty of misrepresentation. The hospitals did not lose billions of dollars on Medicare patients as they previously claimed, but in fact made large profits from 2015 to 2020 (1). “What we’re seeing is the biggest transfer of wealth in my lifetime in North Carolina,” North Carolina state Treasurer Dale Folwell said at a press conference on Oct. 25. “It’s a transfer of wealth especially from lower fixed-income people to these big multibillion-dollar corporations who disguise themselves as nonprofits”(2). “North Carolina hospital lobbyists claimed they lost $3.1 billion on Medicare in 2 …020—the same year hospitals reaped $87 million in Medicare profits,” …