Bloomberg Television · Oct 17, 2026
With John D'Angelo, President and CEO of Northwell Health
About 60% of New York State's nonprofit hospitals are running in the red, John D'Angelo, president and CEO of Northwell Health, told Bloomberg Television's David Gura and Lisa Mateo.
Hospitals are paid mostly for high-margin procedures on very sick patients. John said the work that actually controls costs is keeping people well, and the system does not pay for it.
"The real key to affordability is wellness." — John D'Angelo
John is an emergency physician who spent 26 years rising through Northwell, now New York State's largest healthcare provider and its largest private employer. He recently took over as CEO from Michael Dowling, who ran the organization for 23 years.
The full segment is covered here so you can skip it.
Here are the 5 numbers that matter.
Key Takeaways
The traditional US hospital model is not sustainable, John says, because of an affordability crisis that hits every party
Wellness and prevention, not procedures, are his key to lower costs
About 60% of New York's nonprofit hospitals are losing money, with average margins near 0%
Medicaid pays about 70 cents on the dollar and Medicare roughly 85 to 90 cents
The country faces a projected shortfall of 300,000 to 400,000 nurses over five years
AI should help doctors but never make a decision of consequence, in John's view
1. The Model Is Unsustainable
The traditional healthcare model cannot last, John said when asked whether it could. The US has an affordability crisis, and any fix has to put the patient first without cutting access, quality or outcomes.
John D'Angelo says the cost problem reaches everyone in the system
"I think that the short answer is no. It's not sustainable." — John D'Angelo
His approach rests on two rules he carried from decades in emergency medicine.
"Rule one, do what's best for the patient. Rule two, do what's best for the people taking care of the patients." — John D'Angelo
