President Biden admitted that the Inflation Reduction Act, which was touted as a measure to reduce inflation, actually had less to do with reducing inflation and more to do with providing alternatives for economic growth. He acknowledged that the focus of the act was on reducing the cost of meeting basic needs and creating breathing room, even in the face of inflation. This statement contradicts his previous claims about the bill's ability to lower inflation, cut the deficit, reduce healthcare costs, tackle the climate crisis, and promote energy security.
Private equity firms are rapidly acquiring physician practices, consolidating a significant share of the market and leading to price increases in various medical specialties, according to a study. The research found that private equity acquisitions were associated with price hikes in eight out of ten specialties, particularly in metropolitan areas where a single private equity firm controlled over 30% of the market. Prices for gastroenterologists rose by 14%, oncologists by 16%, and ophthalmologists by 9%. The study authors called for closer examination of the effects of private equity investments in medical groups, as most acquisitions occurred without federal antitrust scrutiny.
