“As private equity has moved into health care, we have become increasingly concerned about the associated negative outcomes for patients,” Whitehouse said in a statement. “From facility closures to compromised care, it’s now a familiar story: Private equity buys out a hospital, saddles it with debt, and then reduces operating costs by cutting services and staff — all while investors pocket millions. Before the dust settles, the private-equity firm sells and leaves town, leaving communities to pick up the pieces.”

Senators launch bipartisan probe of private equity's growing role in U.S. health care

jbr's picture

... A 2021 study of nursing

... A 2021 study of nursing home ownership by academics at New York University, the University of Chicago and the University of Pennsylvania found that death rates were 10% higher at facilities owned by private equity than by other owners, including for-profit companies, while compliance with Medicare standards of care declined. Taxpayer costs rose by 11% at the facilities.

Senators launch bipartisan probe of private equity's growing role in U.S. health care

Treehouse's picture

Well,

it is cheaper if they die.

bizgrrl's picture

It's about time. They also

It's about time. They also need to look into private ownership of physician practices that are contracted by hospitals and other providers.

When you get a procedure at a hospital they have you sign a document saying you will pay for any services not covered by insurance. However, they cannot give you a list of providers so that you can check with your insurance company to see if they are included in providers covered by your insurer. What kind of BS is that?

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