Here’s an article in the Washington Post, google it if you can. It seems a private equity firm owned a chain of 20 hospitals or more. They sold the land the hospitals previously owned themselves, to another firm, so the hospitals then had to pay rent on the land they were on
that sucked down profits and operating capital at the hospitals. The level of care became a big issue, with the rate of people dying from heart attacks in area they served going up significantly. The rate of people dying from heart attack’s in the rest of the USA actually was going down
the hospital then went bankrupt and many people they served before could not get adequate care any more
the equity firm behind this has already taken the profit , so if the hospitals all close it’s no big loss to them
the point here is should hospitals be run by big business interest, to make huge profits? From this example it can go bad or downhill
we think there should be caps on the percent profit on hospitals and medical insurance companies to prevent this sort of profiteering and price gouging
see some excerpts from the article here
