Nearly two-thirds of the 5,000 US hospitals (around 3,900) are designated as nonprofit. This means that they are exempt from paying taxes. Instead, these hospitals are meant to use what they would have paid in taxes to invest back into the community, largely by lowering health care costs or providing free care to those who can’t otherwise afford it. However, that’s not what typically happens.
“Instead, those would-be tax dollars go into seven-figure executive salaries, boondoggle retreats, extravagant galas, private jets, billboard ads, skyboxes, offshore bank accounts, and to fund special interest lobbyists whose job it is to make sure Congress keeps the sweet deal the way it is.”
Medxoom combats this by bringing price transparency to members through our Comparison Shopping technology. This provides directional guidance to consumers when it comes to choosing hospitals for their treatment or care – saving them time and money.