PHILADELPHIA (KYW Newsradio) — Last year, health care represented almost 18% of our gross domestic product — and don't think big businesses haven't noticed.
As hospitals struggle to survive, many are being acquired by private equity firms and for-profit organizations.
Researchers from Harvard looked at 73 of these facilities. According to the report, the patient care experience declined when profits were expected by stockholders.
A key component was reduced staffing and a reduction of nurse-to-patient ratios. Of particular concern was an increase in adverse events — a key measure of patient safety.
Many economically challenged communities are also losing community hospitals, and for-profit facilities are avoiding these areas.
Get more medical reports from Dr. Brian McDonough.
KYW Newsradio's Medical Reports are sponsored by Independence Blue Cross.
