05.23.2024 / Statement

Breaking up health care monopolies will help repair America’s fractured health care system

WASHINGTON, D.C. – Yael Lehmann, Families USA Interim Executive Director, issued the following statement on today’s House Budget Committee hearing, “Breaking Up Health Care Monopolies: Examining the Budgetary Effects of Health Care Consolidation.” Sophia Tripoli, Families USA’s Senior Director of Health Policy, is testifying before the committee as part of today’s proceedings and will be available for comment.

“High and rising health care costs are crushing our nation’s families, forcing them to choose between lifesaving health care and basic needs like housing, food, and transportation. An overwhelming 93% of Americans agree that our country is paying far too much for health care that delivers far too little quality. And it’s only getting worse as big health care corporations buy up community hospitals and local doctors’ offices to eliminate competition and maximize profits at the expense of the communities they purport to serve. As a result, millions of families are left defenseless against hidden fees, price gouging, and exorbitant costs utterly unrelated to the quality of their care.

“Today’s hearing is another crucial step in a growing bipartisan effort to shed light on these abusive pricing practices and the myriad ways unchecked medical monopolies drive unaffordable, low-value care. The growing wave of health care consolidation and the increasing role of private equity investors in health care are setting us on a dangerous path. Only by ending the twisted financial incentives that fuel this consolidation can we truly reorient our health care system to center the needs of individuals and families nationwide.

“There are a variety of bipartisan, well-vetted solutions that Congress can put into place right now to increase price transparency, end abusive billing practices, and promote healthy competition in our health care system, including by enacting the Lower Costs, More Transparency Act that the House of Representatives passed by a wide margin last year. We are grateful that the House Budget Committee is holding this hearing to emphasize the critical importance of addressing these issues and urge all Members of Congress to seize this bipartisan momentum and finally bring millions of Americans much-needed relief from high and rising health care costs.”

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Families USA, a leading national voice for health care consumers, is dedicated to the achievement of high quality, affordable health care and improved health for all.