Experts from the Department of Justice, the Federal Trade Commission, and the American Medical Association just released a paper urging Congress to peel back the Affordable Care Act's restrictions on creating and expanding physician-owned hospitals.
Their analysis is correct. Such hospitals inject much-needed competition into the healthcare market. Consequently, repealing restrictions on them could help lower healthcare costs and expand access to healthcare.The 2010 Affordable Care Act bans physician-owned hospitals from expanding and prevents new ones from participating in Medicare or Medicaid.
But physician-owned hospitals aren't uniquely profit-centered. For-profit hospitals have to deliver returns to their investors. So they're arguably more profit-motivated. Nonprofit hospitals have to at least cover their costs. And a quick look at many of their investment portfolios and pay schedules indicates that it's a stretch to call them"nonprofit.
Physician-owned hospitals specializing in orthopedics and cardiology delivered better results than other hospitals — including shorter stays and lower mortality rates, according to a recent
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