The craziest American hospital grift yet
And it's 100 percent legal!
The motto of New York-Presbyterian — the dominant hospital chain in Manhattan — is: Amazing Things Are Happening Here.
None more amazing than this: New York-Presbyterian, a “non-profit” with $11.5 billion in sales and a half-billion in profits last year1, calls itself a rural hospital under Medicare rules so it can take advantage of federal programs for distressed rural hospitals!
But New York-Presbyterian also claims it’s an urban hospital under different Medicare rules that offer more money to hospitals in high-cost cities.
It’s not just New York-Presbyterian. This “dual classification” grift has exploded since 2016. Many of the richest medical centers in America now pretend to be struggling rural hospitals for Medicare purposes, collectively costing taxpayers billions of dollars.
Best of all (from the hospital executive point of view), the scheme is legal. Hey, you think Dr. Steven Corwin, who made $22.3 million running New York-Presbyterian in 2024, was paid to miss loopholes?
