A large chunk of people working in healthcare are all contractors, now, with all the overhead and friction that comes with that.
The only true employees of most hospital systems are the finance people.
Looking him up it looks like he managed to start and subsequently close (due to low returns) hedge funds. https://en.wikipedia.org/wiki/Edward_O._Thorp#Stock_market
So it seems he was full of shit right? He was saying what he needed to say to get investors and when those investors fell for it he did not deliver.
Sold a lot of books though...