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Bill to Ban Private Equity from Owning Medical Practices

509 points · 384 comments · paimapi

  1. rrrrrrrrrrrryan · · focus · HN ↗
    It's actually worse with veterinary practices.

    Younger veterinarians are drowning in school debt and can't buy the practices from the older folks that are retiring. So, private equity is basically snatching all of them up right now, betting that childless millennials are going to pay tons of money on veterinary care when their pandemic pups begin to reach end-of-life.

    They're going to cut wages for all the staff, and hike all the prices, because unlike with human medical care, there's hardly any regulation (yet).

    1. darth_avocado · · focus · HN ↗
      Yes please, add vets to the bill. The problem you’re describing gets exacerbated when PEs buy practices. They undercut the very few other surviving practices and remove any ability for new practices to open up. In the last 3 years, we went from 10 to just 3 emergency vets in a 20 mile radius. Now if I need to go to an emergency vet, I drive half an hour if there’s no traffic and pay $200 to just be seen.

      This insanity is creating a crisis amount of pets being abandoned, and then euthanized by the animal services. People can’t afford to have pets anymore.

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