The spokesperson sounded as though this high profit margin is completely acceptable because it doesn't go to shareholders. It gets put back into their health care system since they are a non-profit organization. It must not have anything to do with them OVER CHARGING FOR EVERYTHING!!! I wonder how their employees are feeling after hearing how much profit they made... the low wage employees.
And since they are a non-profit organization they would be tax exempt.
As I was looking for a written article about this (I was unsuccessful) I came across something about a litigation:
Providence discriminates against the very patients who are supposed to benefit most from its charity care by engaging in a pattern and practice of charging inordinately inflated rates to its uninsured patients, including Plaintiffs and the Class they seek to represent, that are far higher than the rates it charges its insured patients for the same services.
The rich get richer and the poor get ripped off. On the other hand, there is good news. This is a prime example that there is money to be made out there. It just takes a ruthless heart and the right choice of industries. (And don't let anyone ever tell you that health care is not an industry.)
I'm not sure what to think about this, but I find this news is a bit uplifting. There is money out there to be made, there are folks out there who can afford to purchase things, and this makes me feel a little better. Go figure.