A recent video from Kaiser Health News provides a helpful explanation of private equity and its role in health care. Over the last 10 years, private equity has expanded its reach into hospitals and physician practices, as detailed in the video. Unfortunately, these acquisitions have contributed to higher costs for patients.
The No Surprises Act was designed to decrease health care costs and protect patients. As Americans suffer from rising prices and record inflation, it is critical the law and regulations lower health care costs for patients and families. The multiple lawsuits from certain providers challenging the No Surprises Act are likely to increase health care costs, heightening financial pressures on consumers at a time when inflation is at a 40 year high. Possibly worse, a newly formed coalition of five private equity-backed physician staffing firms just started lobbying on the No Surprises Act. Unfortunately, these groups were vocal in trying to prevent enactment of the No Surprises Act, and are unlikely to be focused on protecting patients and lowering costs. Patients and health care consumers deserve strong protections from surprise bills and affordable health care.
Watch the video here.