Dr. Geoff Gratwick, former state senator and former board member of Maine AllCare, has formed a work group to study the ways to avoid private equity takeover of hospitals in Maine. His concern about the role of private equity in healthcare has been heightened by the recent experience in Massachusetts with Steward Healthcare.
“Our patients and our communities suffer when private equity becomes involved in health care,” said Dr. Gratwick. “We hope to identify other ways to help our struggling health systems here in Maine.”
Recent research, including a Harvard Medical School study and a U.S. Senate Budget Committee bipartisan report, reveal persistent problems in hospital controlled by private equity, including underinvestment, understaffing, and poor patient care experiences.
In its summary of articles and reports on private equity, the Health Justice Monitor observes that “private interests have been increasingly directing the mission of our health care system from providing the best care for patients to creating greater wealth for administrators and investors.”
Dr. Gratwick has alerted Maine legislators about his concerns, hoping that this issue will be brought before the state legislature in the upcoming legislative session.