In the last 18 months, at least eight US hospitals have closed their doors after being bought and sold by private equity firms. For years, the private equity industry has stirred controversy when its investments in healthcare, retail, and restaurants have gone south. Whenever things go wrong with private equity, people in the industry point to its economic benefits. These investments don't just benefit ultra-wealthy people, they say.
An analysis by the Greater New York Hospital Association estimates that Trump's megabill will risk $14.4 billion in hospital-generated economic activity and over 63,000 healthcare or healthcare-related jobs. The cuts will exacerbate the stress on the already fragile healthcare system, leading to a reduction in critically needed services, downsizing of operations, or even hospital closures.
