Reps. John Joyce and Greg Murphy, both doctors, mentioned UnitedHealth Group's bank during today's hearings featuring UHG CEO Stephen Hemsley. (Murphy: "Good God, you own a bank!")
Curious why UnitedHealth even has a bank, and what Congress should do about it? Read this ⬇️
"The bank furthers UnitedHealth Group’s dominance, ensuring providers are reliant on the conglomerate not only for payment and claims processing but also for capital."
For The Economic Populist, @freer_emma breaks down her new whitepaper on UnitedHealth Group's banking arm.
May be the most impressive investigation the team has produced. Unbelievable, groundbreaking data analysis, relevant to any of us whose parents might get sick or old.
.@TheProspect (left): deep dive coverage of pharmacy benefit managers and how they affect the cost of your prescriptions.
DC insider tip sheet (right): ad from the pharmacy benefit managers' chief lobbyist.
MultiPlan and major insurance companies across Arizona allegedly conspired to keep payments to providers low in a scheme to pad their profit margins.
Full press release here: https://t.co/sy0dfFrNWd
Aetna is cutting reimbursement rates for mental health clinicians who use Alma.
"By slashing reimbursement rates 30% to 40%, Aetna is making it untenable for therapists who use Alma to continue accepting Aetna health plans, which many patients rely on to access and afford mental health care and have little say in choosing when selected through work," says @freer_emma.
I hired Dr. Jenny Radesky onto the @FTC as its first-ever pediatrician. She's an expert on addictive social media and chatbots. She's no longer in government, but here's her advice to parents on @thefairfightpod 🧵
ICYMI: Last week, the Governor of Tennessee signed major legislation to prohibit PBMs from owning pharmacies — putting a stop to a conflict of interest that raises costs and hurts independent pharmacists.
It's time to put Americans over Big Medicine. Other states must follow.
Since breaking up healthcare monopolies and getting PE out of healthcare is common sense, there are several bills that all Ds and Rs do/can support which we @econliberties have worked on and endorsed. 🧵
1. Break Up Big Medicine Act by Warren and Hawley
https://t.co/Zt3s5go50a
"China’s rise is happening with the blessing of U.S. pharmaceutical executives, who are allowing their own industry to be destroyed."
Must-read from @OliviaWKosloff in @statnews on how US pharmaceutical and biotech companies are growing too dependent on China.
This new federal #PBMReform bill would ban #PBMs from owning a pharmacy across the country. It has bipartisan support. | @RepAuchincloss
https://t.co/uhdY3ovemP
In Oregon, and across the US, big hospital systems and corporate firms are buying up independent practices — shrinking competition and leading to higher costs for patients.
“The loss of independent physicians has had a huge impact on costs and availability," says @OliviaWKosloff
“Defenders claim Medicare Advantage saves money through efficiency. Nothing could be further from the truth. Insurance corporations are massively profiting from Medicare while simultaneously draining it dry.”
ICYMI: Must-read in the Economic Populist from Write-Off Warrior founder & CEO Mark Craig👇
Terrific piece by @MarkRuffalo and @matthewstoller explaining how extreme market concentration breeds fear and silence, and how the growing effort to stop the Paramount merger exemplifies courage, solidarity, and the importance of pushing back.
https://t.co/M7gLDTYxmF
🚨🩺NEW: In 1980, more than three-fourths of physicians owned their own practices. In 2024, barely a third do. So, what’s happening?
A new paper from @OliviaWKosloff lays out how vertical integration in healthcare and loss of access to capital has crushed independent practices.🧵👇
One company owns your insurance, your doctor, and your pharmacy.
They negotiate with themselves. They pay themselves. They win every time you need care.
This isn't a health system. It's a racket.
I support breaking them up.
“[Casey] Mulligan... should not be trusted to put the best interests of American families, healthcare providers, employers, and taxpayers above those of his Big Medicine backers," @freer_emma says on the appointment of a new HHS affordability czar.
While the Trump administration has promised to cut Americans' healthcare costs, the appointment of Mulligan, who has taken PBM funding for research, risks more of the status quo.
"There's a lot of concerns about private equity in health care... Their goal isn't necessarily providing good dental care and safe working conditions... it's to make high returns for their investors."
MUST WATCH: @freer_emma joins @MorePerfectUS to discuss how private equity is capturing the dental industry and raising costs on patients👇
Since 2014, veterinarian prices have risen by 60% — driven in part by private equity’s expanding presence in the field.
Now, pet owners are turning to Tijuana.
For @NYMag, @helaineolen dives into the upshoot of Americans crossing the border for affordable pet care.
NEW: @ChrisMurphyCT and @RepMGS are introducing legislation that would effectively prohibit PE firms from owning hospitals and skilled nursing facilities.
“Private-equity ownership of healthcare facilities drives up prices, lowers wages, reduces access, and degrades patient care. Economic Liberties is proud to endorse the Take Back Our Hospitals Act," says @freer_emma.