Ascension Health, a big chain of Catholic hospitals, claims to advocate for a compassionate and just society. But its business practices and investments tell a different story.
Ascension Health, a big chain of Catholic hospitals, claims to advocate for a compassionate and just society. But its business practices and investments tell a different story.
News recently broke that New Mountain Capital has sought to acquire outstanding shares of R1, a revenue cycle management firm, according to SEC Filings. New Mountain seeks to acquire all outstanding shares not currently owned by investors at $13.75 per share, equating to about $5.8 billion.
It's amazing how the people in charge of these corporations as well as their bought and paid for politicians always come out ahead. You would think that after the ongoing debacle at UnitedHealthcare (which they were warned would happen 2 years ago when Optum was gobbled up by UHC), the powers that be would not let these giant mergers happen. And mainstream media doesn't even report on this stuff anymore even though it affects the average person to a much larger extent than what they do report on. It's just so wrong on so many different levels.
Mainstream media like the WSJ gives us headlines and op-eds that are comfortable for the largest players in healthcare. Recall a recent op-ed entitled “Be thankful for high drug prices” - it was written by industry for industry.
I suppose one could admire the capability of industry to steer their own ship. They essentially control mainstream media, generating favorable coverage while ignoring what is really going and how it affects the average person. Industry also is in charge of the regulatory apparatus. Not only have they bought and paid for politicians, but they also literally ARE the regulators. It is so common to see that top executives at major corporations take turns leading the government agencies meant to regulate those same companies. It is crazy and congress does nothing to stop it (and why would they considering that these corporations are essentially their overlords). The people have been abandoned by the government and by the press. Who is left to defend them?
The US must accompany the other peer countries in government supported healthcare. Currently the US has the worst health record and lowest life expectancy while paying the highest GDP for health.
Let’s not forget who led the charge in 2005 for MA after he failed to priatize Medicare. George W Bush gave us this mess, with an eye toward giving it to Wall Street. Now over 50% of Americans have this which is NOT Medicare. It’s private insurance with and insurer that can be changed at will. There are several bills to stop using “Medicare” in the name.
Chris Deacon, you made me want to laugh and cry over this. Just how ridiculous this circumstance could exist and how destructive it is to the patients on the other side of it.
It's not funny that any healthcare corporation could/would do this, let alone one so unexpected. There's a lot of work to be done.
It's amazing how the people in charge of these corporations as well as their bought and paid for politicians always come out ahead. You would think that after the ongoing debacle at UnitedHealthcare (which they were warned would happen 2 years ago when Optum was gobbled up by UHC), the powers that be would not let these giant mergers happen. And mainstream media doesn't even report on this stuff anymore even though it affects the average person to a much larger extent than what they do report on. It's just so wrong on so many different levels.
Mainstream media like the WSJ gives us headlines and op-eds that are comfortable for the largest players in healthcare. Recall a recent op-ed entitled “Be thankful for high drug prices” - it was written by industry for industry.
I suppose one could admire the capability of industry to steer their own ship. They essentially control mainstream media, generating favorable coverage while ignoring what is really going and how it affects the average person. Industry also is in charge of the regulatory apparatus. Not only have they bought and paid for politicians, but they also literally ARE the regulators. It is so common to see that top executives at major corporations take turns leading the government agencies meant to regulate those same companies. It is crazy and congress does nothing to stop it (and why would they considering that these corporations are essentially their overlords). The people have been abandoned by the government and by the press. Who is left to defend them?
Congratulations on the exceptional analysis, Chris Deacon! It seems that nonprofit hospitals enjoy quite a few material for-profit things: https://open.substack.com/pub/sergeiai/p/how-are-the-ceos-of-health-nonprofits.
The last paragraph is the most important. Hopefully this situation and others like it (Seward in Mass) lead to some healthy change for patients.
It absolutely is the most important.
The US must accompany the other peer countries in government supported healthcare. Currently the US has the worst health record and lowest life expectancy while paying the highest GDP for health.
Let’s not forget who led the charge in 2005 for MA after he failed to priatize Medicare. George W Bush gave us this mess, with an eye toward giving it to Wall Street. Now over 50% of Americans have this which is NOT Medicare. It’s private insurance with and insurer that can be changed at will. There are several bills to stop using “Medicare” in the name.
Chris Deacon, you made me want to laugh and cry over this. Just how ridiculous this circumstance could exist and how destructive it is to the patients on the other side of it.
It's not funny that any healthcare corporation could/would do this, let alone one so unexpected. There's a lot of work to be done.