期刊
INTERNATIONAL JOURNAL OF SOCIAL DETERMINANTS OF HEALTH AND HEALTH SERVICES
卷 53, 期 2, 页码 233-238出版社
SAGE PUBLICATIONS LTD
DOI: 10.1177/00207314221134041
关键词
private equity; access to care; costs of care; quality of care; medical-industrial complex; profiteering
Private equity investments in U.S. health care have become common and often go unnoticed by physicians and health professionals. The primary motivation is to generate short-term profits for investors, regardless of the consequences on patient care. These investments span across various healthcare sectors, including hospitals, outpatient facilities, nursing homes, and home care. Private equity firms typically acquire assets through leveraged buyouts, burden them with debt, cut costs, and push for unnecessary procedures before selling them within a few years. This article depicts this process and the harmful impacts of private equity on healthcare, as well as the efforts being made to regulate exploitative private equity practices.
Private equity investments in U.S. health care have become very common across more parts of our health care system than most physicians and other health professionals realize. The motivation in every case is to reap short-term profits for investors regardless of the consequences on patient care. These investments range from hospitals, emergency room services, and outpatient facilities to nursing homes and home care. Physician practices have been bought and sold in a number of specialties, including anesthesiology, dermatology, emergency medicine, gastroenterology, obstetrics-gynecology, ophthalmology, orthopedic surgery, and radiology. After leveraged buyouts using borrowed money, the typical modus operandi of private equity is to load the acquired asset with debt, cut costs as a way to increase revenues, press for unnecessary procedures, then sell the asset typically in three to five years. This article describes that process, including the harmful impacts of private equity on health care, and summarizes what is being done to rein in the exploitive practices of private equity ownership.
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