Private Equity in Healthcare Increases Mortality Rates and Costs According to Leading Orthopedics Expert
Dr. Michael Rieber of Orthopedics Unlimited Says Focus Should Remain on Patients and State-of-the-Art Care
NEWARK, NJ / ACCESSWIRE / April 21, 2022 / Private equity (PE) investments in healthcare increased to nearly $100 billion in the last decade. Twenty-five percent of hospitals and nursing homes in the United States are owned by private firms and that figure will likely increase. Because of this trend, medical practices and health systems have been streamlined to produce more profit. Critics warn that the constant drive for profitability is damaging healthcare quality and resulting in premature deaths.
A recent study from the Becker Friedman Institute found that nursing homes owned by private equity firms have 10% higher death rates among patients on Medicare. It also showed a decline in time spent with residents, less staff and lower quality and training of staff.
Dr. Michael Rieber, an orthopedic surgeon based in West Orange, New Jersey says that treating patients is what medicine is all about, not generating exorbitant profits for shareholders.
“Staying solo has allowed me to have a real doctor-patient relationship,” Rieber states. “Doctors in this scenario can remain conservative when necessary and offer state-of-the-art care without having to ask a board of non-physicians to run profitability spreadsheets and give permission.”
Dr. Rieber says that there are higher readmission rates and complications in the larger PE groups which leads to substantial health risks. For instance, a large dermatology practice used a faulty autoclave to sterilize equipment resulting in 137 patients having to test for diseases like HIV and hepatitis. Following that incident, PE investors were forced to dissolve the group.
Dr. Rieber sees many patients that leave the large-owned practices because they could not get time with the doctor, get answers to their questions or were just rushed into a surgical procedure they didn’t want or really need.
“Smaller is better when it comes to your health,” Dr. Rieber remarks. “In my practice, I’ve been able to use several methods to help heal my patients such as robotic customized surgical techniques to laser multi-wave light therapies to special garments used by professional athletes that helps control swelling and pain. It is these types of innovations that make medicine exciting.”
ABOUT ORTHOPEDICS UNLIMITED
Orthopedics Unlimited is the solo private practice of Dr. Michael Rieber. The practice mantra is “Life is Motion, Motion is Life.” Dr. Rieber’s goal is to get injured people back to optimum health with a customized game plan using state-of-the-art techniques and client-focused procedures. For more information, visit Orthopedics Unlimited on Facebook or YouTube. For additional information, visit gamedaydoc.com.
CONTACT
Dr. Michael Rieber
973-577-5200
cfosports@gmail.com
SOURCE: Orthopedics Unlimited
View source version on accesswire.com:
https://www.accesswire.com/698357/Private-Equity-in-Healthcare-Increases-Mortality-Rates-and-Costs-According-to-Leading-Orthopedics-Expert
