For hospitals, Sarbanes Act a shot in arm

Big nonprofit hospital systems -- with their billion-dollar budgets and lucrative ventures -- are run much like corporations.
Now some of these systems are tackling something that has become a part of daily life for publicly traded companies: the Sarbanes Oxley Act. Advertisement

The 2002 legislation, enacted in the wake of Enron and other corporate scandals, was intended to ensure an organization's accounting processes and financial results are accurate.

Public companies have to comply with Sarbanes. Nonprofits don't.

Despite that, some large nonprofit hospital systems in Indiana and beyond are attempting to comply.

The University of Pittsburgh Medical Center says it is the first and only nonprofit health system to fully comply with Sarbanes -- a move the 20-hospital system says is paying off.

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