Seriously you guys, learn from our mistakes. Get private equity out of healthcare while you still can.
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This is the best summary I could come up with:
In the U.S., the growing role of private equity firms in health care is coming under heightened scrutiny, with Senate committee hearings and a cross-government public inquiry launched earlier this year.
"When private equity firms buy out health-care facilities only to slash staffing and cut quality, patients lose out," said Federal Trade Commission Chair Lina M. Khan in a statement.
The U.S. Federal Trade Commission and two U.S. departments are looking at whether consolidated ownership may sacrifice patient care and worker safety to generate profits for private-equity investment firms, while costing taxpayers.
The goal is to achieve economies of scale by, for example, purchasing medications in bulk or hiring a bookkeeping firm to manage multiple clinics β creating profits for shareholders.
Also, most provinces don't require facilities to report much on their ownership structure, so the extent of involvement in surgical services is unclear, said Andrew Longhurst, a health policy researcher at Simon Fraser University.
For Dr. Danyaal Raza, a family physician with Unity Health's St. Michael's Hospital in Toronto, it matters who owns long-term care homes in a way that doesn't apply to other businesses.
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