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The Labor Campaign believes that we will win healthcare for all when the labor movement commits all of its resources and organizing capacity to the fight for healthcare justice. We need your help to get your union, Central Labor Council and other labor-based organizations to join this effort.
Why an Investigation is Warranted
There is ample evidence to suggest that Tenet Healthcare used COVID-relief funds to improperly expand its business, enrich its executives and shareholders, and prioritize the company’s bottom line over patients and caregivers.
Despite being flush with taxpayer-funded stimulus money, Tenet has refused to increase staffing or invest in its caregivers who put their lives on the line during the pandemic. The company is refusing to offer market rate raises to its workers in Southern California or implement safe staffing levels in Massachusetts.
Tenet has received $2.6 billion in COVID relief funds that were intended to stabilize healthcare facilities responding to the pandemic. Tenet received $899 million in direct aid from the federal CARES Act Provider Relief Funds, $1.4 billion in Medicare Advance Payments, which serve as an interest free loan, $260 million in deferral of payroll tax match and $14 million in state and local COVID-related grant programs.
After receiving billions in public dollars, Tenet ended 2020 with a $399 million net profit and $2.5 billion in cash reserves, more than double its cash balance in any quarter during the past 10 years. The company also used nearly $500 million in cash to pre-pay debt that was not due for four years.
An investigation is urgently needed to investigate these matters, evaluate the actions of other large health systems, and identify steps needed to recoup any misappropriated funds. Send a letter, today!