The Senate Finance Committee held a June 8 hearing entitled “Consolidation and Corporate Ownership In Health Care Trends and Impact on Access to Quality Care and Costs.” The witnesses discussed the impacts of private equity, and both vertical and horizontal consolidation on the health care system. Some highlights pertinent to LeadingAge members include:

• Senator Cortez Masto (D-NV) discussed the challenges facing hospice right now with the proliferation of “fake” hospices in Nevada and the problems with hospice program integrity. She asked questions about the impacts of consolidation on these patterns. A witness from Colorado spoke up on the impact of financial consolidation on his local community-based nonprofit hospice.
• A number of Senators, including Chairman Ron Wyden (D-KS), spoke about Medicare Advantage (MA) and consolidation and integration in the MA space. Many questions were asked about the impact on pricing, especially for consumers, on MA buying physician practices and other lines of business. Wyden also focused on artificial intelligence.
• Transparency, especially in the private equity space, continued to come up throughout the hearing.

LeadingAge will continue to connect with members of the Senate Finance Committee about our priorities and how they fit into theirs.