Press Release:
Physicians Join with Allies to Launch the Coalition for Patient-Centered Care: Team Up to Oppose Private Equity Acquisition of Health Care Providers
Over the past decade, the rate of private equity acquisitions of independent health care providers has occurred at an alarming rate. Policymakers and enforcement agencies have responded with an increased focus on private equity acquisitions in the health care sector and their potential for harmful effects. This creates a unique opportunity and urgent call for action to assemble a diverse range of stakeholders to join together and stem the tide.
Today, we are proud to announce our answer to that call, as we launch the Coalition for Patient-Centered Care (CPCC). The Coalition for Patient-Centered Care represents a diverse group of health care industry stakeholders. Our membership includes over 5,000 physicians in 46 states. 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 we believe upends the contract by emphasizing profits and revenue growth over patient interests.
While our recommendations for action will evolve, the CPCC identifies the following as important goals:
- Eliminate tax breaks for Private Equity acquisitions of physician groups;
- Close loopholes that allow Private Equity to circumvent the ban on the corporate practice of medicine;
- Ensure Private Equity acquisitions are subject to the same requirements and regulations as physician acquisitions such as Stark and Fraud and Abuse laws; and
- Increase reporting and transparency requirements for Private Equity acquisitions of physician practices.
Our Founding Members include:
- The OrthoForum
- Association for Independent Medicine
- Keith Smith, MD
- Doug Lundy, MD
- Marty Makary, MD
- Matt McCord, MD
- PELTO Physician Empowered Leadership of Transformational Organizations
Media Contacts:
Amanda G. Lewis – alewis@cuneolaw.com
J.D. Scholten – jscholten@cuneolaw.com
