Who's going to buy Steward's remaining Massachusetts hospitals?
Physicians can't own hospitals. Legislators have turned up the heat and regulatory scrutiny of PE and VC-backed healthcare (in large part because of Steward's bad apples). Smaller independent community hospitals (of which there are now few) are already struggling financially.
Enter large, market dominant health systems? The state has made it clear it's not thrilled about Mass General Brigham owning more hospitals. (Instead, they've spun up outpatient centers in HNW areas and turned their attention to neighboring states).
As a condition of approving its merger, Beth Israel Lahey Health agreed to a 7-year moratorium on cost increases among other concessions. That's set to expire in the next year or so. Do we really want more health system consolidation? (Studies would suggest the answer is "no" if you want lower prices, demonstrably better care and access, and fewer employed physicians).
So, who's left?
Are we willing to think a bit differently? Explore alternative options? Allow physicians or physician groups with business partners to make a go of it? (The horror, the horror). Can we admit that regulatory grandstanding has created as many, if not more, problems than it has solved?
This is an opportunity to be a little bold. We shouldn't abide conflicts of interest or allow free reign for fraud and abuse. Oversight and transparency are paramount. But we can use a deft touch instead of a heavy hand. We can support innovation, not stifle it. This goes not just for Steward, but for efforts across the country to tackle hard problems by taking a different angle.
Otherwise, get ready for more of the same. Same wolf, different clothing.
#health #healthcare #medicine
Vice President of Out of Network Sales @ Revco| Revenue Cycle Management
3moFantastic update