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After private equity takes over hospitals, they are less adept of providing care
A study by physicians in the Journal of the American Medical Association describes a pattern of selling land, equipment and other resources after private equity acquires hospitals.
“It’s a very striking finding and should change the way people think about private equity in hospitals,” said Dr. Stephanie Woolhandler, a distinguished professor of public health at Hunter, part of CUNY, and one of seven authors of the study. “Previous studies have found that patients are endangered and costs increase in the wake of private-equity acquisitions,” said Dr. Elizabeth Schrier, a resident physician at the University of California, San Francisco, and a lead author of the new research. “Cerberus’ long-term investment made it possible for Steward to continue to serve its communities, employ tens of thousands of professionals, and positively impact millions of patients’ lives.”
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