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TRANSLATION MENU

 * Español


SECONDARY MENU

 * Report Fraud
 * Get Consumer Alerts
 * Search the Legal Library
 * Submit Public Comments


Menu


MAIN MENU MEGA

 * Show/hide Enforcement menu items
   
   
   ENFORCEMENT
   
   We enforce federal competition and consumer protection laws that prevent
   anticompetitive, deceptive, and unfair business practices.
   
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   THE LEGAL LIBRARY
   
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For Release


FEDERAL TRADE COMMISSION, THE DEPARTMENT OF JUSTICE AND THE DEPARTMENT OF HEALTH
AND HUMAN SERVICES LAUNCH CROSS-GOVERNMENT INQUIRY ON IMPACT OF CORPORATE GREED
IN HEALTH CARE

Agencies seek info on transactions, including non-reportable deals, that may
harm patients’ health, workers’ safety, quality of care, and affordability
March 5, 2024

Tags:

 * Consumer Protection
 * Competition
 * Office of Policy Planning
 * Health Care

The Federal Trade Commission, the Department of Justice’s (DOJ) Antitrust
Division, and the U.S. Department of Health and Human Services (HHS) jointly
launched a cross-government public inquiry into private-equity and other
corporations’ increasing control over health care.

Private equity firms and other corporate owners are increasingly involved in
health care system transactions, and, at times, those transactions may lead to a
maximizing of profits at the expense of quality care. The cross-government
inquiry seeks to understand how certain health care market transactions may
increase consolidation and generate profits for firms while threatening
patients’ health, workers’ safety, quality of care, and affordable health care
for patients and taxpayers.

The agencies issued a Request for Information (RFI) requesting public comment on
deals conducted by health systems, private payers, private equity funds, and
other alternative asset managers that involve health care providers, facilities,
or ancillary products or services. The RFI also requests information on
transactions that would not be reported to the Justice Department or FTC for
antitrust review under the Hart-Scott-Rodino Antitrust Improvements Act.

“When private equity firms buy out healthcare facilities only to slash staffing
and cut quality, patients lose out,” said FTC Chair Lina M. Khan. “Through this
inquiry the FTC will continue scrutinizing private equity roll-ups,
strip-and-flip tactics, and other financial plays that can enrich executives but
leave the American public worse off.”

“Preserving competition in health care markets is a priority for the Department
of Justice because of its important impact on the health and well-being of
Americans,” said Assistant Attorney General Jonathan Kanter of the Justice
Department’s Antitrust Division. “This RFI will enable the agencies to
accurately understand the modern market realities of the health care industry
and forcefully enforce the law against unlawful deals. Hearing from patients,
workers, and market participants will be critical in developing future
enforcement and policy efforts relating to consolidation in the health care
sector.”

“Increasing competition in health care markets gives people more
choices. Competition helps ensure patients have access to high-quality, lower
cost care, and that health care workers receive higher pay and work under better
conditions. And it saves taxpayers money,” said Health and Human Services
Secretary Xavier Becerra. “We need to do more to understand the impact of
private equity and corporate dealmaking on our policymaking, regulatory
decisions and enforcement actions. The Biden-Harris Administration is committed
to improving transparency and competition in health care.”

Research has shown that competition in health care provider and payer markets
promotes higher quality, lower cost health care, greater access to care,
increased innovation, higher wages, and better benefits for health care workers.
Comments submitted in response to the joint RFI will inform the agencies’
enforcement priorities and future action, including potential regulations aimed
at promoting and protecting competition in health care markets and ensuring
appropriate access to quality, affordable health care items and services.

The agencies’ RFI builds upon the Centers for Medicare & Medicaid
Services’ recent RFI on Medicare Advantage and a RFI issued by the FTC and HHS
on how pharmaceutical middleman groups may be contributing to drug shortages.
The RFI issued today stems from a December 2023 announcement outlining efforts
by the DOJ, FTC and HHS to lower health care and drug costs, while promoting
competition to benefit patients and health care workers.

In addition to the launch of the RFI, all three agencies will also be
participating today in a virtual public workshop that will explore the impact of
private equity in health care and will discuss what the federal government is
doing to address any harmful effects.

All market participants—including patients, consumer advocates, doctors, nurses,
health care providers and administrators, employers, insurers, and more—are
invited to share their comments in response to the RFI. The agencies seek
comments on a variety of transactions, including those involving dialysis
clinics, nursing homes, hospice providers, primary care providers, hospitals,
home health agencies, home- and community-based services providers, behavioral
health providers, as well as billing and collections services.

The public will have 60 days to submit comments at Regulations.gov, no later
than May 6, 2024. Once submitted, comments will be posted to Regulations.gov.

The Federal Trade Commission develops policy initiatives on issues that affect
competition, consumers, and the U.S. economy. The FTC will never demand money,
make threats, tell you to transfer money, or promise you a prize. Follow the FTC
on social media, read consumer alerts and the business blog, and sign up to get
the latest FTC news and alerts.


CONTACT INFORMATION


MEDIA CONTACTS

Juliana Gruenwald Henderson (link sends email)
Office of Public Affairs
202-326-2924
Victoria Graham (link sends email)
Office of Public Affairs
415-848-5121


RELATED RESOURCES

Request for Information on Consolidation in Health Care Markets




TOPICS

Health Care Competition
Competition in the Health Care Marketplace
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Menu


SECONDARY MENU

 * Report Fraud
 * Get Consumer Alerts
 * Search the Legal Library
 * Submit Public Comments


MAIN NAVIGATION

 * Enforcement
   * Cases and Proceedings
   * Premerger Notification Program
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   * Anticompetitive Practices
   * Rulemaking
   * Statutes
   * Competition and Consumer Protection Guidance Documents
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   * Consumer Sentinel Network
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