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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. mlsu · · focus · HN ↗
      I visited the veterinarian recently for a routine exam of my dog. The vet gave the exam and at the end of it, a technician handed us what looked like an invoice. The invoice had like 12 different items on it and totaled $1,400. No explanation, and no differentiation between items.

      We were flabbergasted. Asked the tech what was optional or what was required as part of our visit and he said, oh, just the top line item for the exam. $95.

      It has to be illegal to do that. I feel like next time I go in there they are going to give me the ol' Clark Stanley runaround.

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