The Ultimate 'Shareholder'

Law360, New York (June 17, 2011, 2:18 PM EDT) -- The recent Lifespan decision[1] from the federal district court in Rhode Island provides a dramatic reminder of the extraordinary accountability that attends the governance and management of a nonprofit hospital. As hospitals increasingly affiliate with larger systems to meet the demands of health care reform, this decision deserves careful attention from both for-profit and not-for-profit health care systems that include one or more nonprofit hospitals.

Lifespan Corporation, a not-for-profit company, runs a network of nonprofit hospitals in Rhode Island with total operating revenue in excess of...
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