What happens when you deregulate an essential infrastructure, allow its managers to extract monopoly prices from captive customers, and then let assorted wolves of 21st-century Wall Street to gain control and take the whole system over the edge? https://t.co/Q7I0AtegJM
Hospitals are open 24/7 and have to respond to a wide array of problems, so Medicare reimburses them at higher rates than doctor offices. Makes sense.
But wealthy hospitals found a loophole: buy neighborhood doc practices, consolidate, and bill at the higher rates. Not cool.
The provider can get 2x or more the reimbursement for routine services simply because the logo on the door changes. This raises costs to 3rd party payors, like employers and government, but also increases costs to patients via their co-pay.
This practice has also led to consolidation of healthcare within cities, often with a couple big systems increasingly controlling all of care delivery.
There is a fix. It's called site neutral. Patients shouldn’t be charged more for the same care simply because of where they receive it.
A bipartisan bill passed the House that made a good first step, ending the overpayments for drug infusion. Now the proposal is in the Senate, where the hospital lobby is going berserk trying to kill it.
We @Arnold_Ventures are focused on bending the cost curve of healthcare while maintaining quality. Closing this loophole is a great way to do so.
Many small and independent grocers are contacting me to express concern that large retailers are using monopolistic practices against them. I asked Federal Trade Commission Chair Lina Khan to reveal what the @FTC has found during their supply chain investigation.
.@FTC has proposed to ban non-compete clauses for all workers and invites public comment until March 20.
If you have been bound by a non-compete clause at some point in your life, we encourage you to file a comment, which can be submitted anonymously. https://t.co/0kebitGhKp
@glastris@nytimes@monthly Washington Post reveals the same epistemological capture this morning. Price high because of too high inventory/not monopoly. https://t.co/UyCgVeXPbq
I authored a new report published by @openmarkets detailing how 10 federal agencies can use the full extent of their antimonopoly & fair competition powers to effectuate President Biden's July 2021 executive order & create a more equitable economy for all
https://t.co/OlupxE2Ayq
We need to stop economic concentration abroad before rogue states, like Russia, can use them as potential weapons. My new piece in the @monthly explains the scale of Russia's involvement in the global fertilizer supply chain. https://t.co/T6KNWwxYzL