HCMC

By Mathew Keller RN, JD

Regulatory and Policy Nursing Specialist

In a recent communication to its employees, HCMC claims that this space’s use of HCMC’s Form 990 financial disclosures to the IRS are misleading. Why? The Form 990 “includes as income $20 million in county capital funding that is restricted for maintaining our county-owned facilities and one-time capital funding for the new building.”

In order to get a better picture of HCMC’s finances, HCMC asks the reader to discount from the County hospital’s finances the money the County hospital receives from the County for maintenance of “old” buildings and construction of a “new” building. 
… Read more about: Fact Check: Does Money from the County Count as Revenue?  »

By Mathew Keller, RN JD

Regulatory and Policy Nursing Specialist

Hennepin County Medical Center’s 2015 numbers are in, and many HCMC employees on the chopping block might be surprised by them. Despite HCMC’s public statements contributing layoffs to a “financial challenge,” 2015 was its second-most profitable year on record as the healthcare system pocketed $28.6 million in net income—up from $11.5 million in 2014.

HCMC’s MNA nurses are calling on HCMC CEO Jon Pryor to act with more transparency regarding these layoffs. This is not a good start for Dr. Pryor, who stated in an all-employee email on December 9, 2016, “if you’ve been paying attention to the media, you know that HCMC is not the only healthcare organization facing a financial challenge right now.” Only two months prior, the CEO had signed off on the financial report showing the huge 2015 net income increase.
… Read more about: HCMC Doubles Profits in 2015  »