How private equity is decimating care
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Dear reader,
Where is the money for the most expensive health care system in
the world going? The cut of gross national health care expenditures
commanded by administrative overhead and waste has ballooned to an
estimated 30 percent; the portion that pays doctors and nurses has
fallen. Wealth extraction, whether through excessive billing,
under-delivery, or the constant buying and selling of hospitals, has
become the new normal in American health care.
Once upon a time, doctors and providers were some of the foremost
defenders of our for-profit system. But in recent years doctors and
nurses have had a disarming sense of clarity about the fundamental
conflict between caring for patients and delivering value to
shareholders. We think everyone should understand this fundamental
disconnect with our system.
That's why we decided to dedicate our August 2023 print issue to the
business of health care-the inner workings of the monopolies and
cartels extracting ever-greater sums for ever-lousier outcomes, and the
policies and protocols pushing doctors and nurses to the brink-and
increasingly into labor unions.
To kick off the series, Maureen Tkacik and I wrote an overview of
what's at stake in our corporatized health care system, both how it
has gutten patient care and the ways providers are fighting back. It's
available on our website today.
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Today, we also present the story of Stephanie Arnold
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a young family physician who, after years of working several precarious
jobs owned by private equity, finally started her own direct primary
care practice to provide her patients affordable and comprehensive care
untouched by corporate greed.
You can read the entire series as it is released here.
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READ ABOUT THE BUSINESS OF HEALTH CARE >>
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to reader support that our newsroom has the resources to pursue stories
like this. You can help support this work by becoming a member today
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of the reader support we receive funds our editorial mission:
illuminating stories about ideas, politics and power.
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Thanks for being a part of this,
David Dayen
Executive Editor, The American Prospect
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