Dec 18, 2017

Debt collection is big business for hospitals

Photo: BSIP/UIG via Getty Images

Some of the country's biggest hospital companies are facing slim profit margins on actual patient care, but have managed to pad their bottom lines with debt-collection businesses, Bloomberg reports. Tenet, for example, is selling off hospitals to help reduce its debt burden, but keeps those hospitals as customers of its debt-collection arm.

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As Axios' Bob Herman has reported, hospitals are also

pulling in a lot of money

on Wall Street — from investments, stocks, bonds, credit default swaps and accounting gains from mergers and acquisitions.

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