Sen. Elizabeth Warren urged the Biden administration to immediately halt a Trump-era program that could result in complete privatization of Medicare by the decade’s end.
“Wall Street is not racing to buy up clinics because they want to expand coordinated care models and limit profits,” Warren argued Wednesday. “Private equity and insurance companies want the eye-popping profits that are possible when the federal government lets them pocket whatever it is they can avoid spending on seniors and people with disabilities who need healthcare.”
“The number of corporate vultures hoping to feed on Medicare continues to grow,” said Warren, the first Democratic senator to publicly criticize the Biden administration for letting the DC pilot proceed. “This invites fiscal disaster, and I hope this administration will reverse this decision.” Among the witnesses who testified at Wednesday’s hearing was Dr. Susan Rogers, president of Physicians for a National Health Program , an advocacy group that has beenDuring her, Rogers noted that “DCEs may spend as little as 60% of their Medicare payments on patient care, keeping the other 40% as profit and overhead.”
“Medicare was designed as a lifeline for America’s seniors and those with disabilities, not a playground for Wall Street investors,” Rogers said. “If middlemen in healthcare actually saved money and improved outcomes, the U.S. wouldn’t have the most expensive and ineffective healthcare system in the world. We don’t need to put seniors through another failed experiment to prove this.”led by Rep.
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