Private Equity Capitalizes on Pennsylvania's Vulnerable Health Care System
(The Center Square) - Chester-Crozer Hospital is the nearest emergency department for thousands of residents, many of whom do not have private transportation. When news broke that it may soon be closing, it shed light on the role of private equity in Pennsylvania’s health care system. For now, doors are staying open thanks to funding from the Foundation for Delaware County, but a new buyer must be found soon. The Senate Democratic Policy Committee met this week to talk about the impact of hospital closures like this and what can be done to prevent them. Medical professionals and policy experts testified about the damage done to hospitals run with the goal of maximizing profit for equity firms like the now bankrupt Prospect Medical Holdings.
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Show Notes
(The Center Square) - Chester-Crozer Hospital is the nearest emergency department for thousands of residents, many of whom do not have private transportation. When news broke that it may soon be closing, it shed light on the role of private equity in Pennsylvania’s health care system. For now, doors are staying open thanks to funding from the Foundation for Delaware County, but a new buyer must be found soon. The Senate Democratic Policy Committee met this week to talk about the impact of hospital closures like this and what can be done to prevent them. Medical professionals and policy experts testified about the damage done to hospitals run with the goal of maximizing profit for equity firms like the now bankrupt Prospect Medical Holdings.
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Full story: https://www.thecentersquare.com/pennsylvania/article_c021c110-fe9d-11ef-9109-17a78014ee44.html
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