Despite Historic Healthcare Staffing Crisis, HCA Racks Up Massive Profits As a continuing example of HCA’s seemingly relentless drive for profit, last week, the total shareholder return for HCA Healthcare investors skyrocketed to 225% over the last five years. While corporate profits soar, staffing at HCA hospitals are far below national averages and HCA healthcare workers continue to be paid poverty wages as low as $12.50/hour.
The profit explosion has nearly tripled the wealth of the Frist Family, company founders and largest shareholders, just since the onset of the Covid Pandemic. While nearly 1 million Americans have died, the Frists are now worth nearly $21 billion dollars.
HCA recently announced plans to build three new hospitals in Florida, despite the rampant staffing crisis inside its existing hospitals. HCA’s growth in Florida is part of a larger trend: in September, the hospital chain announced its plans to acquire five hospitals in Utah. Experts have previously noted that hospital consolidation leads to higher prices but does not improve care.