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  • REPORT: Private equity-backed healthcare services bring more harm than good to patients

    Posted by mwakamiya on August 2, 2023 at 2:39 pm

     
     
    [link=https://healthexec.com/topics/healthcare-management/private-equity-backed-healthcare-services-bring-more-harm-good-patients-report-reveals]https://healthexec.com/to…atients-report-reveals[/link]

    buckeyeguy replied 11 months, 3 weeks ago 11 Members · 18 Replies
  • 18 Replies
  • g.giancaspro_108

    Member
    August 2, 2023 at 2:42 pm

    The general consensus response to any research like this is “well, duh.”
     
    No one cares about the patients except health care workers and the patients themselves.
     
    Administrators, insurers, legislators have made it very clear they do not care.

    • Unknown Member

      Deleted User
      August 2, 2023 at 2:57 pm

      I would also add the physicians who enable private equity and prioritize their interests to the list of those who do not care about the patients.

      • elikot

        Member
        August 2, 2023 at 3:15 pm

        I would add Trial Attorneys

        • g.giancaspro_108

          Member
          August 2, 2023 at 3:34 pm

          Good point.

          • william.wang_997

            Member
            August 2, 2023 at 4:19 pm

            PE is doing same in rental market. They are trashing it.

            • nelson33.jn

              Member
              August 2, 2023 at 5:42 pm

              Annnnnnnnnnd. absolutely nothing will be done about it. This country is becoming a Kleptocracy. excuse me, this country is a Kleptocracy.

              • nicolasvg.1003

                Member
                August 2, 2023 at 5:48 pm

                 
                Duh. 

                • satyanar

                  Member
                  August 2, 2023 at 5:51 pm

                  Believe it or not radiologists (and maybe most docs) would be better off with “Medicare for all” than having anything to do with PE. That ought to be a “duh” also but I’m not sure it is.

                  • nicolasvg.1003

                    Member
                    August 2, 2023 at 6:10 pm

                     
                    PE only has maybe 10% market share in Rads .

                  • tdetlie_105

                    Member
                    August 2, 2023 at 6:33 pm

                    Quote from Thread Enhancer

                    Believe it or not radiologists (and maybe most docs) would be better off with “Medicare for all” than having anything to do with PE. That ought to be a “duh” also but I’m not sure it is.

                     
                    Agree however its my opinion that the “death by a thousand cuts” strategy that CMS has been using over past 20 years was a significant factor for those rads that decided to sell and get out of the arbitrary bureaucratic nonsense.  CMS as its stands is not sustainable unless we train enough mid-levels that can get employed by hospitals/large HC systems to replace bulk of physicians 

                    • g.giancaspro_108

                      Member
                      August 2, 2023 at 6:46 pm

                      That seems to be the plan.
                       
                      CMS certainly found the money to increase payments to hospital and insurance administrators.
                       

                      Quote from jd4540

                       CMS as its stands is not sustainable unless we train enough mid-levels that can get employed by hospitals/large HC systems to replace bulk of physicians 

                    • smfst7_929

                      Member
                      August 2, 2023 at 9:29 pm

                      Make money while you can before you burnout. Sadly, when we all reach retirement age and need healthcare, we will be getting substandard care. Wouldnt be shocked if in 40 years I have an NP cardiac cathing me or doing my c scope. Supervised by a physician of course.

    • Unknown Member

      Deleted User
      August 3, 2023 at 4:15 am

      Quote from sandeep panga

      The general consensus response to any research like this is “well, duh.”

      No one cares about the patients except health care workers and the patients themselves.

      Administrators, insurers, legislators have made it very clear they do not care.

       
      Yes -it is “duh” as in everybody knows. 

      HOWEVER research like this – “sun rises in the east” research does have an important function.
      In the case of the closely related issue of midlevel practice, proponents of full practice authority for midlevels stand in front of legislators and defy those of us who oppose it to show research proving they are worse than physicians. While there is some, the definitive paper you would like to produce is not there.
      Why? because of several factors. 1) What IRB will approve  a protocol that strictly adheres to not allowing crossover between NP groups and Physician groups. i.e. Does not allow patients poorly treated by NPs to be seen by physicians to fix them? None. 2) Who will spend the $$Millioins to fund such a study. Politically the NIH probably wouldn’t be interested 3) Most research of this sort – the kind promoted by the NPs as showing no difference – had pitifully short follow up periods -1 week to 6 months. Years long follow up needed. Who will fund? It is incredibly difficult to follow a large group of patients through years – enough move and become unfindable to invalidate the study statistically due to attrition loss. (didi the patients die? or just move). One long term study I saw in operation at Duke had a whole office full of people just calling patients to locate them all day every day. They said that if they lost 5%, the study was invalid.

      one research paper in this area was by Mundinger, et al. It is regarded as one of the seminal papers showing “no difference” between NPs and Physicians. At six months, they had 21% dropout. There was higher dropout in the NP group than the physician group.. They chose 6 months because 1 year was too hard to do. However, they did attempt a two year follow up and did find a place to publish it. At two years, of the 1316 patients enrolled, only 406 completed the protocol, 710 were lost. At two years there was 70% attrition.
      At the first analysis – 6 months, 12% of the patients assigned to one clinic had gone to another clinic- crossover bias. Enough to erase any significant differences. 

      SO  – papers like this – proving the intuitively obvious – ARE necessary because the opponents will wave $hit research in front of legislators (some of whom are primed to believe it anyway) that says the sun rises in the west.  

      • smfst7_929

        Member
        August 3, 2023 at 7:46 am

        Private equity is a cancer that politicians are incentivized not to stop.

        [link=https://www.nbcnews.com/politics/congress/kyrsten-sinema-delivers-gift-private-equity-democrats-big-agenda-bill-rcna42394]https://www.nbcnews.com/p…-agenda-bill-rcna42394[/link]

        Neither side of the aisle wants to reign them in. Sinema basically killed part of a bill that would have taxed them more fairly. Bottom line is that politicians seem to be in the pockets of PE. Just look at all the former politicians that now have 7 figure private equity jobs. It is disgusting.

        PE has ruined nursing homes in many parts of the country. Research has shown that PE is literally responsible for an increase in morbidity and mortality in nursing homes. Profit at all costs is the name of their game.

        Not sure what you can do to stop it if politicians wont mobilize. We have to end the tax loopholes and their ability to shunt pension obligations to the federal government during bankruptcy restructuring as a start. Pretty unbelievable but they literally buy companies, run them into the ground and still make money because they shed pension obligations during restructuring or Chapter 7. Look at Marsh supermarkets as a great example of how to extract profit and run a once profitable supermarket chain into the ground

        • 4462

          Member
          August 3, 2023 at 7:57 am

          Politicians are a cancer that half of the population supports at any time and thus will never stop. PE is a small distraction. All medicine is corporate now. Health care costs up. Physician reimbursement down. Admin expense up. Insurance profits at record levels. No one cares. We are the greedy demons. The war is lost. Burn it all down. No easy fixes.

          • smfst7_929

            Member
            August 3, 2023 at 9:38 am

            I think Unionizing the physician labor force is the answer. The physician shills that sell out to PE would love to have a gig ss labor leader. At least then their desire to work less and make more money can be put to good use. We need our radiology Jimmy Hoffa to step up!

            • tdetlie_105

              Member
              August 3, 2023 at 3:56 pm

              Quote from sartoriusBIG

              I think Unionizing the physician labor force is the answer. The physician shills that sell out to PE would love to have a gig ss labor leader. At least then their desire to work less and make more money can be put to good use. We need our radiology Jimmy Hoffa to step up!

               
              On a certain level I agree however as physicians we are very fragmented-by speciality and by practice model (eg. PP vs employed etc)…I wonder how sheltered hospital employed physicians are from CMS cuts since their reimbursement is likely more of a supply/demand issue.  In the current environment I could see an employed hospital rad doing better than a PP rad per $/wRVU and with respect to schedule.  

            • buckeyeguy

              Member
              August 4, 2023 at 5:43 am

              Quote from sartoriusBIG

              I think Unionizing the physician labor force is the answer. The physician shills that sell out to PE would love to have a gig ss labor leader. At least then their desire to work less and make more money can be put to good use. We need our radiology Jimmy Hoffa to step up!

               
              I actually agree because I see what a joke the US is in terms of claiming to be capitalist or free enterprise, but being nowhere near to either. It’s controlled and based on socialist tendencies and big government/big corp fascism. What’s funny is that the Dems are now the major promoters of this, and the only defense is to have lower pay (which is guaranteed to come very soon) and a cush job as the benefit of the lower pay. The system is insolvent, the dollar is already planned on its exit, the digital nonsense and control grids are coming, etc.