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Bill to Ban Private Equity from Owning Medical Practices

509 points · 384 comments · paimapi

  1. thelastgallon · · focus · HN ↗
    PE has bought most of hvac, electrical, plumbing, daycare, dentist. They keep the same local well established name, but is run centrally by the PE firm. They employ smooth talking salesmen to convince homeowners to pay tens of thousands of dollars for simple things. The salesmen makes 150K+ commissions. The actual plumbers/hvac people make $20/hour. The HVAC salesmen convince unsuspecting homeowners to spend 30K - 70K on upgrades and warranties. They also get a percentage from the manufacturer, usually some shitty brand. They sell warranty/services package which is questionable.
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