From eNewsletter 5/1/2024

DID YOU KNOW that a new report from Physician Advocacy Institute states that physician practice ownership by corporations, including health insurers, private equity firms, and large pharmacy chains, reached 30.1% as of January 2024 for the first time, surpassing ownership by hospitals and health systems (28.4%). As a result, about three in five physician practices are now owned by nonphysicians.

Physicians have an ethical responsibility to their patients' health. Corporate entities have a fiduciary responsibility to their shareholders and are motivated to put profits first. These interests can conflict with providing the best medical care to patients.

"Given recent trends, we are concerned that some transactions may generate profits for those firms at the expense of patients' health, workers' safety, quality of care, and affordable healthcare for patients and taxpayers," said the Federal Trade Commission (FTC) and the Justice (DOJ) and Health and Human Services (HHS) departments in a rare joint statement.

Please do your due diligence when seeking out a physician.

To read the rest of today's issue, please go to this page.