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Warren bill takes aim at “corporate greed” in health care, references Steward
BOSTON – [Coverage Developing] U.S. Sen. Elizabeth Warren introduced legislation Tuesday morning aimed at warding off future cases of “corporate greed” in the health care landscape, like the kind that her office says led to Steward Health Care filing for bankruptcy.
Standing across the street from Steward’s St. Elizabeth’s Medical Center in Brighton, Warren outlined her “Corporate Crimes Against Health Care” bill that would establish new penalties and guardrails for health care executives who endanger patient safety and access to care — including a new criminal penalty that could send executives to prison for up to six years.
That punishment would be for those who “loot health care entities like nursing homes and hospitals, if that looting results in a patient’s death,” according to Warren’s office.
Legislators, patients and health care workers are wrestling with the results of financial management of Steward under the helm of CEO Ralph de la Torre. Steward sold the land its Massachusetts hospitals sit on in 2016, a transaction that has since saddled the system with massive debt as executives struggled to keep up with payments to the landlord, Medical Properties Trust, and to vendors.
Warren’s proposal would authorize state attorneys general to claw back all compensation to private equity executives within a 10-year period, spanning before or after an acquired health care provider “experiences serious, avoidable financial difficulties due to that looting,” according to her office. The bill also lays out more reporting requirements for health care providers that receive federal funding.
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Fed Up
June 11, 2024 at 6:15 pm
Senator useless always capitalizing off of tragic events. She waits until after-the-fact to act like she cares and is going to do something. This nonsense at Stewart has been a LONG time coming
MortisMaximus
June 12, 2024 at 5:04 am
Warren is a partner in America’s $35 trillion dollar national debt. Why is she lecturing anyone on financial management?
JB
June 12, 2024 at 5:55 am
So if I understand this correctly, if someone dies in a hospital (where many die) the people running it risk financial ruin for decisions made in good faith at the time. That ought to be good for the recruitment of good executives??? Is her real goal to have the government run all healthcare, which should make it much better….NO.
JB
June 12, 2024 at 6:05 am
Lease backs like Steward did with MPW is an important tool that companies can do to raise money to try to help keep them a float or to expand. Now of course you have to be careful how you use this money just like in a remortgage of your home. Could part of the problem be the government’s regulations and/or low insurance payments? Maybe the mandatory care some groups receive. How will the open border policy we now have, that the Senator supports effect all of our Healthcare in the USA, eventually? I wonder.
Dr. David
June 12, 2024 at 11:05 am
Actually, this is all working out to the plan implemented by Barry Obama and the Democrats including most loudly … the race hustler and appropriator … the Senator that graduated from lowly Rutgers Law School and somehow was hired by Harvard Law School as a full-time professor .. Elizabth Warren ….the plan is Obama Care …. Obama care was designed to dramatically consolidate the medical care delivery industry hospitals down to solo physicians …. the goal was too gain more control over the medical system so that their vile leftist policies could be more easily implemented. The less options available the less freedom you have. This is why there are no small physician practices left and why small community hospitals are decimated.
we saw it play out beautifully during Covid ; you want to keep your nurse job at this hospital ?? take the poison injection … you want your heart surgery … no toxic spike protein injection .. no surgery for you. its the same as Covid did to small business.
Grandma’s bakery has to shut down while Home Depot and liquor stores open ?? small biz votes republican and are not easy to control … so use them covid scam to wipe them out .. with a side benefit of ballot harvesting a presidential election … (which will happen again)
Gary
June 12, 2024 at 11:17 am
The DEMS and the OBIDEN Admin really care about our Military? lol
Gee! ‘Why Is No One Joining The USA Military?’
When they have to bring back the Military Draft, make sure you blame the right Political Party, DEMS!
“SHARING IS CARING”
“Biden Admin Shoots Down $24 Billion Pay Raise For ‘Enlisted’ Troops”
‘After Spending Seven Times More On Ukraine’!
Maybe our US Military should claim they are Illegals?, or Ukrainians?
https://dailycaller.com/2024/06/11/biden-admin-shoots-down-24-billion-pay-raise-enlisted-troops-spending-seven-times-ukraine/