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You Can Thank Private Equity for That Enormous Doctor's Bill
Private-equity investors have poured billions into healthcare but often game the system, hurting both doctors and patients. From a report: Consolidation is as American as apple pie. When a business gets bigger, it forces mom-and-pop players out of the market, but it can boost profits and bring down ...
In a complex, multitrillion-dollar system like America's healthcare market, though, that principle has turned into a harmful arms race that has helped drive prices increasingly higher without improving care. Such a scheme was allegedly implemented by the private-equity firm Welsh, Carson, Anderson & Stowe and the company it created in 2012, U.S. Anesthesia Partners, according to a Federal Trade Commission lawsuit filed last year. In May, U.S. District Judge Kenneth Hoyt dismissed the FTC's unusual step of charging the private-equity investor, Welsh Carson, but allowed the case against USAP to proceed.
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