Both Cayuga Medical Center (CMC) and Schuyler Hospital (SH), members of Cayuga Health, were recently recognized for fair share spending by the Lown Institute. The Lown Institute conducts nonpartisan research to help inform consumers about their care.
Based on 2020 tax records, the Lown Institute determined that both CMC and SH had a “fair share” surplus in 2020, which means they spent more on financial assistance and community investment than the estimated value of their tax exemption.
“Part of the mission of Cayuga Health is to continuously support the communities that we serve, and we offer this support in a variety of ways including contributions and various health improvement activities in Tompkins, Cortland, and Schuyler Counties,” stated Rebecca Gould, Chief Financial Officer, and Vice President of Finance for Cayuga Health. “We want to ensure that every member of our community has access to high quality care regardless of payment sources and we work diligently alongside other community organizations to address population health needs, right here.”
For community benefit, Lown Institute measured 1700 non-profit hospitals in the United States providing charity care or subsidized health services, community health improvement activities, contributions to community groups, and community building activities. They are a 501(c)(3) nonprofit.
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