I am writing to urge you to co-sponsor Senator Ed Markey and Rep. Pramila Jayapal’s Health Over Wealth Act to address the role of private equity firms control over hospitals, mental and behavioral health facilities, and nursing homes.
Private equity’s modus operandi is to reduce competition, shutter facilities, and cut staffing, all to make more money -- leaving fewer choices among healthcare providers, especially in rural areas. Without regulation, such reckless profiteering is nearly guaranteed to lead to disruption in access to facilities, higher patient costs, and reduced quality of care.
This bill will establish permanent guardrails to protect patients, providers, and communities. The bill accomplishes this by providing for public transparency, continuity of care, establishment of an HHS Task Force, HHS review of sales, public notification of closures or reduction of services, prohibiting the stripping of assets, and by licensing private equity firms that invest in healthcare facilities.
Thank you, in advance, for protecting patients, providers, and communities, and for helping guarantee that “corporate wealth will not come before public health” by co-sponsoring and passing the Health Over Wealth Act now.
First sent on August 26, 2024 by Jess Craven
