A North Carolina hospital owned by private equity giant Apollo is descending into extreme chaos. People are dying and ER doctors say it’s the worst they’ve ever seen. We went inside with Moe Tkacik of American Economic Liberties Project to investigate the meltdown of for-profit health care in rural America.
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EXPOSED: For-Profit Health Care Crisis | Only Sports And Health
Non-profit don’t always mean non-profit.
Corporations buy hospitals. Th n lease the facility back to the non-profit hospital at exorbitant cost.
"… a communist takeover." Ironic for a for-profit institution. Capitalism may not work in all cases especially in healthcare
This is everywhere.
Is this the America everyone wants to come to
Can we get an update on this issue, one year later?
Did y’all know the medical logo is a snake wrapped around a pole. Is that reassuring to you or does it give you food for thought?
Less than 3% of the hospitals might be actively in jeopardy but this is a nationwide problem. The modern business model is profits over people. That is not compatible with good healthcare. I don’t know why more hospitals haven’t been dinged. But they should be.
I worked for a LifePoint hospital in the accounting department. It was once a community hospital but quickly the sole focus was maximizing profit in any way possible. The experience made me so mentally sick and sad.
This is the problem with ALL hospitals. I spent 3 1/2 weeks in the hospital with my boyfriend during Covid. The fact that the hospital thinks it's normal for doctors not to be present but get paid for a 5 minute visit,nurses to work 12 hour days and stretched beyond belief. The hospital only had 2 respiratory specialists to administer inhaler meds and many times was missed. They are charging prices for A+ service but getting D-F class treatment. My boyfriend died as they tried to give him drug after drug to put him under to be intubated. They pushed the last one and killed him.
I’ve worked at for profit hospitals and clinics. They should be illegal and even the nonprofit hospitals should have a cap on how much CEO’s can make.
This story is so sad because his death was preventable, likely being a direct result of massive understaffing of nurses.
I always had a sneaking suspicion about these guys. No corporation does anything for free, especially for the old people. We’ve really got to take our healthcare into our own hands. Go to the dentist for check ups & eat healthy. We’ll all be better not dealing with this quackery.
Then f*cking vote differently next time!
The word private privitized or privatization always sends shivers down my spine.
Looks like junk bonds are just another money laundry vehicle. If you are an insider, you would of course buy the bonds, given huge returns, knowing they are safe. Nobody else would dare to buy overly risky bonds.
Totally perverse to use MA financing itself to bleed companies dry. Ie the true beneficiaries are not the PE firms directly, but the buyers of the bonds.
So they found a nice model: provide no care, sift all the insurance money into bond and lease payments. Then 'close' the hospital, driving up pricing power.
I’ve never done things like tobacco cocaine, heroin, weed, anything like that I am not an alcoholic because I have a epilepsy. I don’t take any medicine unless it’s prescribed by my doctor for anything especially anxiety. Thank you.
What’s wrong with making money for somebody sell to support a person with a disability or to support a family and to pay bills and everything else or maybe they’re trying to go back to school what’s wrong with that?
I’ll tell you what’s wrong what’s wrong is that the big banks they make money by doing overdraft fees, maintenance fees, ATM fees and credit card charges and people work their entire wife use bank to put their money away for retirement to pay their bills and rent and get clothes and get food and then there’s nothing left for them
This crisis was created by poor regulation and naked greed. I am expected to meet a certain standard of care. My board certification must be maintained and I am always taking courses to remain current and safe.
PE firms are trying to extract every cent that they can from from communities. I would not join the staff of a for profit hospital.
welcome to 'Murica" but…but…but.. socialism is so bad ! I wanna puke!
You should look up the name Montefiore Hospital. It would be an eye-opener.
If we went to Single payer you would get rid of the for-profit aspect of healthcare. Look at Medicare advantage and how the insurance companies have made an absolute fiscal killing off it. The problem is you have shill politicians who are for the taking. It's amazing how the American public can't get through their head that everybody else including Canada right above has nationalized health care that comes out of their taxes. They are not under the threat of an insurance company or a healthcare company taking anything they own of value to repay their debt. Remember one of the biggest causes for bankruptcies is healthcare bills. How many reports of people not going to the doctor because they're scared of the bill and they end up paying for it horribly the in the end. Think of it this way, the majority of the people that represent us do they want to line their pockets or do they want to serve us? I think their portfolios speak for themselves, think Nancy pelosi.
"What they often do is form a corporation or an LLC or any kind of corporate form and the legal owner will be the corporate form, not the two owners. So they have insulated themselves from any connection between the operations in healthcare and themselves. Often we see the actual property that the health facility is on put into a separate LLC and owned by the same owners of course, however they then lease themselves that building." That happens in various business sectors. It's not always as nefarious as it sounds. And, paying rent to yourself is better than paying it to someone else ¯_(ツ)_/¯ Some of the other practices do sound a bit dubious, although, I wonder if it just makes sense to keep some aspects of the operations separate in the event that you want to sell them off; kind of like the real property vs other assets? I do not know enough about business law and ethics to know if that is a legitimate concern. Obviously, some of the other things they do are beyond the pale.
This is eerily familiar, with what has happened to Mission Hospital in AVL after HCA took over. Especially the part how the ER looks like a triage area in a war zone. That describes it exactly.
Including Athena Health too. Owned by Bain Capitol. Mitt Romney deathcare.
Tax payers shouldn't be paying for universal healthcare for wealthy people and their slaves. They get everything we have and yet we die broke. If that is the US way of life, it really, really sucks. With friends like that, who needs enemies.