Yves here. This is another tour de force from Michael Hudson, derived from a paper he presented in early January at the UPRE session during the annual ASSA meeting. This time he turns from his recent focus on the economically destructive but oligarchy-advancing practice of sanctifying debt to another favorite topic, the evolution of capitalism. Hudson looks from the early Industrial Revolution onward and demonstrates that the dominance of financial capital over industrial capital was neither the likely course of events nor desirable. A major feature of this development is the increasing weight of rentier activities and how they drain income from workers and more productive sectors.
features
Ban on surprise medical bills could reshape U.S. air ambulance industry
New legislation to end surprise medical billing could spell far-reaching changes for the U.S. air ambulance industry. By Elan Head | January 19, 2021
Estimated reading time 18 minutes, 4 seconds.
New legislation to end surprise medical billing could spell far-reaching changes for the U.S. air ambulance industry, slashing profits associated with exorbitant balance bills and laying the groundwork for future reimbursement policies that incentivize safety and quality.
Several sections in the No Surprises Act focus specifically on air ambulances, making it potentially the most consequential legislation for the U.S. air ambulance industry since the Balanced Budget Act of 1997. Skip Robinson Photo
After collecting billions of dollars in the United States coronavirus aid, many of the nation’s wealthiest nonprofit hospitals are now tapping into disaster relief funds that critics say they don’t need.
The money from the Federal Emergency Management Agency (FEMA) is going to some large health systems that have billions of dollars in cash reserves and investments, according to government records reviewed by Reuters news agency.
FEMA has received nearly 2,200 aid requests from hospitals and thus far has approved about 15 percent of them, for a total of $894m, the agency told Reuters news. Hospitals can request more money as US infections surge, and FEMA officials expect total aid awards to rise significantly.
Wealthy hospitals rake in U.S. disaster aid for COVID-19 costs Reuters 12/29/2020
By Chad Terhune
(Reuters) - After collecting billions of dollars in U.S. coronavirus aid, many of the nation’s wealthiest nonprofit hospitals are now tapping into disaster relief funds that critics say they don’t need.
The money from the Federal Emergency Management Agency (FEMA) is going to some large health systems that have billions of dollars in cash reserves and investments, according to government records reviewed by Reuters.
FEMA has received nearly 2,200 aid requests from hospitals and thus far has approved about 15% of them, for a total of $894 million, the agency told Reuters. Hospitals can request more money as U.S. infections surge, and FEMA officials expect total aid awards to rise significantly.
Reuters > By Reuters - 29 December 2020 - 14:27 Many of the wealthiest nonprofit hospitals in the US are now tapping into disaster relief funds that critics say they don’t need. Image: Tyler Olson/ 123RF.com
After collecting billions of dollars in U.S. coronavirus aid, many of the nation’s wealthiest nonprofit hospitals are now tapping into disaster relief funds that critics say they don’t need.
The money from the Federal Emergency Management Agency (FEMA) is going to some large health systems that have billions of dollars in cash reserves and investments, according to government records reviewed by Reuters.
FEMA has received nearly 2,200 aid requests from hospitals and thus far has approved about 15% of them, for a total of $894 million, the agency told Reuters. Hospitals can request more money as U.S. infections surge, and FEMA officials expect total aid awards to rise significantly.