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@ISIDEWITH submitted…11hrs11H
Years of dealmaking has led to sprawling hospital systems, vertically integrated health insurance companies, and highly concentrated private equity-owned practices resulting in diminished competition and even the closure of vital health facilities. As this three-part Heard on the Street series will show, the rich rewards and lax oversight ultimately create pain for both patients and the doctors who treat them. Belatedly, state and federal regulators and lawmakers are zeroing in on consolidation, creating uncertainty for the investors who have long profited from the healthcare merger boom.Over the past decade, private equity has spent hundreds of billions of dollars acquiring healthcare businesses from emergency care to anesthesiology to nursing homes. Where private equity has gone, studies show, prices have tended to increase.Consider the impact of massive private-equity investment in medical practices. When a patient with employer-based insurance goes under for surgery, the anesthesiologist’s fee is supposed to be determined by market forces. But what happens if one firm quietly buys out several anesthesiologists in the same city and then hikes the price of the procedure? Such a scheme was allegedly implemented by the private-equity firm Welsh, Carson, Anderson & Stowe and the company it created in 2012, U.S. Anesthesia Partners, according to a Federal Trade Commission lawsuit filed last year. It started by buying the largest practice in Houston and then making three further acquisitions, eventually expanding into other cities throughout the state of Texas. In each location, the lawsuit alleges, USAP pursued an aggressive strategy of eliminating competitors by either acquiring them or conspiring with them to weaken competition.
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Do not blame the physicians for this mess. They sell their practices to larger entities because a small group or indivi…
@M0derateBaboonfrom Montana submitted…12hrs12H
The Biden administration is planning to refer some migrants in Latin America for resettlement in Greece and Italy as part of another effort to discourage people in the region from traveling to the U.S.-Mexico border, two people familiar with the government's plans told CBS News.The initiative would involve Greece and Italy welcoming migrants processed at immigration offices that the Biden administration set up last year in four Latin American countries to screen migrants who hope to reach the U.S., the sources said, requesting anonymity to discuss arrangements that have yet to be announced.The centers, officially known as Safe Mobility Offices, allow certain migrants in Colombia, Costa Rica, Ecuador and Guatemala to apply to come to the U.S. or other countries legally. Under the new arrangements, Greece and Italy would join Canada and Spain in resettling some of those processed at the offices. One of the sources said Italy and Greece would likely accept a relatively small number of migrants, roughly 500 or fewer each.
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Ahhh, more election pandering. Biden has the power to close the border, but doesn’t. Has he asked Italy and Greece about…
@ISIDEWITH submitted…8hrs8H
A Russian court has extended the pretrial detention of U.S. journalist Alsu Kurmasheva until August 5, sparking international concern over press freedom and human rights. Kurmasheva, who faces charges of failing to register as a foreign agent, has reported health problems and has been unable to speak…
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@ISIDEWITH submitted…4hrs4H
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@ISIDEWITH submitted…37mins37m
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@ISIDEWITH submitted…9hrs9H
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@ISIDEWITH submitted…1hr1H
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