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Financial Problems Predicted
Staff Reporters
According to the Wall Street Journal, January 22, 2009, a bill making its way through Congress to provide more low-income children with health-insurance coverage might mean financial trouble for scores of physician owned hospitals.
Emergence and Growth
The very existence of doctor-owned hospitals is controversial. But, their numbers have tripled to about 200 since 1990.
The Supporters
Supporters say these hospitals, which usually focus on several lucrative services, such as cardiac care or orthopedics, are highly efficient, saving expenses for both patients and insurance programs, including Medicare.
More: www.HealthcareFinancials.com
The Critics
Critics say physicians who refer patients to hospitals with an ownership stake drive up costs, because they order more tests or perform unnecessary surgery. They argue that such hospitals also cherry pick healthy patients hurting surrounding non-profits hospitals.
Assessment
According to Pete Stark, chairman of the House Ways and Means health subcommittee, the proposed legislation would prohibit “the unethical kickbacks that physicians receive from ownership hospitals, most of which are of questionable safety and quality.”
Conclusion
And so, your thoughts and comments on this Medical Executive-Post are appreciated. Do you agree, or disagree with the thesis; why or why not? Does this mean that not-for-profit hospitals, for-profit entities, or those hospitals with training programs don’t order un-needed tests? Are these hospitals and physician-investors, “crazy” or colorful and sane?
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Medical Risk Management: http://www.jbpub.com/catalog/9780763733421
Healthcare Organizations: www.HealthcareFinancials.com
Health Administration Terms: www.HealthDictionarySeries.com
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Filed under: "Doctors Only", Alternative Investments, Career Development, Health Economics, Health Law & Policy, Managed Care, Quality Initiatives, Research & Development | Tagged: david marcinko, hope hetico, Peter Stark, physician owned hospitals, Robert Cimasi | 4 Comments »
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