Intense media coverage of the small part of the #healthcare system owned by private equity focuses public attention on policies that won’t affect the twin crises of access and out-of-control costs.
#PrivateEquity is attracted BECAUSE of the out-of-control costs (to consumers) which are reflected as booming revenues for the enterprise being acquired.
Profit is antithetical to positive healthcare outcomes. Period. End of story.
Researchers examined Medicare claims for 662,095 patients at 51 different hospitals owned by private equity firms and compared the outcomes to those of more than 4 million hospitalizations at 259 hospitals that were not owned by private equity firms:
At private equity firm hospitals:
25.4% increase in hospital-acquired conditions
27% increase in falls
38% increase in central line infections despite performing 16% fewer percutaneous central lines
100% increase in surgical site infections despite 8% fewer surgeries
And all despite treating younger and therefore presumably healthier patients
Lets face it #PrivateEquity is not a group of charities, if they're investing in #children focussed #socialcare, its because they see a market opportunity.
Finanzinvestoren haben Pflegeeinrichtungen ins Visier genommen. Sie kaufen etwa #Pflegeheime auf Pump auf und erhöhen den Druck, Rendite zu erzielen. Die #Immobilien werden ausgegliedert, die Einrichtungen müssen fortan hohe #Mieten zahlen. Aurora Li und Jorim Gerrard von @Finanzwende skizzieren das Vorgehen der Private-Equity-Firmen und zeigen, was die Politik dagegen unternehmen kann.
“From facility closures to compromised care, it’s now a familiar story: private equity buys out a hospital, saddles it with debt, and then reduces operating costs by cutting services and staff — all while investors pocket millions. Before the dust settles, the private equity firm sells and leaves town, leaving communities to pick up the pieces.” via @brittanytrang for @STAT
Potentially good news for fans of mutual #financial institutions... looks like Coventry Building Society are making a big to but the CoOp from its current #privateequity owners (who were bold holders & bailed the CoOp out after some bad steps some years ago).
No one is commenting, but Sky news have (according to the FT) run with the story... here's hoping it does work out
The stark realization that the whole #PrivateEquity thing is very literally how we're going to end up in that near-future hypercapitalist corporations-not-countries hellscape you see in lots of cyberpunk and scifi.
Isn't it? Convince me otherwise (please. lol. and NOT with the Le Guin quote we've all heard a million times 😂).