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Health care industry

Patients Over Profits Act Introduced to Combat Corporate Healthcare Consolidations

Strategic Insights

— 1 min read

The Patients Over Profits Act, introduced by US Senators Jeff Merkley and Elizabeth Warren, along with Representatives Val Hoyle, Pat Ryan, and Pramila Jayapal, aims to prevent large health insurance companies and their subsidiaries from buying up independently owned clinics nationwide. This legislation seeks to rein in out-of-control consolidations in the healthcare industry, which have led to patients being left without access to care.

Key Takeaways:

  • The Patients Over Profits Act targets the consolidation of health insurance companies and their subsidiaries, such as UnitedHealth Group and its subsidiary Optum, which have been buying up clinics across the country.
  • The bill aims to prevent large insurance companies from buying up independently owned clinics, ensuring that patients are not left without access to care.
  • The consolidation of healthcare companies has led to a shift in profits and reduced transparency, making it difficult for patients to access quality care.
  • The Patients Over Profits Act is supported by various organizations, including the American Economic Liberties Project, Center for Health and Democracy, Health Care for America Now, and Public Citizen.
  • UnitedHealth Group employs or contracts with over 90,000 doctors, approximately 10% of the US physician workforce, and owns more than 750 clinical subsidiaries nationwide.
  • The consolidation of healthcare companies has been linked to increased prices, reduced quality of care, and decreased transparency, ultimately harming patients.

Statistics:

  • 10%: The percentage of the US physician workforce employed or contracted by UnitedHealth Group.
  • 750+: The number of clinical subsidiaries owned by UnitedHealth Group nationwide.
  • 90,000+: The number of doctors employed or contracted by UnitedHealth Group.
  • $+: The profits generated by UnitedHealth Group through its consolidation of healthcare companies.

Sources:

  • Sunlight Report on UnitedHealth Group by the Center for Health and Democracy
  • Quote from Stephanie Kelton, US Representative Pramila Jayapal's press conference
  • Quote from Emma Freer, Senior Policy Analyst for Healthcare at the American Economic Liberties Project
  • Quote from Rachel Madley, PhD, Director of Policy and Advocacy at the Center for Health and Democracy
  • Quote from Lisa Gilbert, Co-President of Public Citizen
  • Press release from the office of US Representative Val Hoyle.

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