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Despite COVID-19, many wealthy hospitals nationally had a banner year thanks to federal bailout Updated Apr 06, 2021; Facebook Share Last May, Baylor Scott & White Health, the largest nonprofit hospital system in Texas, laid off 1,200 employees and furloughed others as it braced for the then-novel coronavirus to spread. The cancellation of lucrative elective procedures as the hospital pivoted to treat a new and less profitable infectious disease presaged financial distress, if not ruin. The federal government rushed $454 million in relief funds to help shore up its operations. But Baylor not only weathered the crisis, it thrived. By the end of 2020, Baylor had accumulated an $815 million surplus, $20 million more than it had in 2019, creating a 7.5% operating margin that would be the envy of most other hospitals in the flushest of eras, a KHN examination of financial statements shows.

New yorkUnited statesBaylor universityHealth servicesUniversity of chicagoKaufman hallMayo clinic in rochesterWilliamson memorial hospitalWest virginiaEdward karlovichLisa goldsteinSuzie desaiDaniel widawskyDennis dahlenColleen groganDonald yealy