Next year, nonprofit hospitals in Colorado will have to report more specific information about how they spend their “community benefit” dollars, following criticism that they weren’t meeting public needs.
BOULDER —
“What they are supposed to do with their immense profits, since they don’t pay taxes, is invest that in the community,” Polis said in a brief statement before signing the bill at Out Boulder County, a nonprofit serving the LGBTQ community. “We don’t know if it’s going to the community’s priorities or just the hospital’s priorities.”
Rep. Judy Amabile, a Boulder Democrat who sponsored the bill, said she and others noticed hospitals’ spending wasn’t addressing priorities in their communities, like a need for more behavioral health care. There was a “massive amount of blowback” from hospitals, but the bill will help increase transparency, she said.requires nonprofit hospitals to submit reports about how much they spend on different categories of community benefit, with more detail than in the past.
Independent hospitals that don’t comply despite warnings could be fined up to $5,000 per week, while systems could be fined up to $20,000 weekly for each location in violation.
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