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The Coalition for Patient-Centered Care (CPCC) represents a diverse group of healthcare industry stakeholders. We are dedicated to upholding the fundamental social contract between physicians and their patients in which patient interests are always paramount. As part of this effort, we stand together in opposition to private equity’s acquisition and subsequent influence over independent physicians, which can upend the contract by emphasizing profits and revenue growth over patient interests. CPCC strives for a world where physicians have control over the delivery of care and can work directly with their patients to make medical decisions and deliver patient-centered, cost-efficient care without corporate hindrance.
Eliminating tax breaks for Private Equity acquisitions of physician groups is crucial for promoting equitable healthcare access and preserving patient-centric care. These tax breaks may incentivize private equity firms to acquire medical practices, which may lead to potential negative impacts on patient care quality, physician autonomy, and healthcare costs. By removing these tax breaks, we can prioritize patient well-being over profit motives, fostering a healthcare system that focuses on sustainable, patient-centered outcomes rather than financial gains for investors. This shift ensures that healthcare decisions remain centered on patient needs and the integrity of medical practices, contributing to a fairer and more accessible healthcare landscape.
Closing loopholes that enable Private Equity firms to bypass the ban on the corporate practice of medicine is crucial to safeguarding the integrity of healthcare delivery. By eliminating these loopholes, we can promote transparency, and foster a healthcare environment where patient interests and quality of care take precedence over anything else.
It is imperative to subject Private Equity acquisitions to the same stringent regulations as physician acquisitions, including Stark and Fraud and Abuse laws, to uphold fairness, transparency, and ethical standards in healthcare. Ensuring parity in regulations prevents potential discrepancies that could compromise patient care quality, financial integrity, and ethical conduct, safeguarding against undue influence and preserving the sanctity of healthcare decision-making for the benefit of patients and the healthcare system.
Increasing reporting and transparency requirements for Private Equity acquisitions of physician practices is essential to provide visibility into potential impacts on patient care, financial practices, and healthcare quality. Enhanced reporting ensures stakeholders, including patients, regulators, and healthcare providers, have access to crucial information, promoting accountability, identifying potential conflicts of interest, and safeguarding against any adverse effects on patient outcomes. This transparency fosters trust, aids informed decision-making, and upholds the integrity of healthcare services amidst evolving ownership structures.
