From driving medical facilities out of business to charging predatory interest rates on patient billing schemes, F. Douglas Stephenson outlines how private equity is stealthily destroying Americans' healthcare.
By F. Douglas Stephenson
Common Dreams
Private equity has succeeded in depict
Patients at North Carolina-based Atrium Health get what looks like an enticing pitch when they go to the nonprofit hospital system’s website: a payment plan from lender AccessOne. The plans offer “easy ways to make monthly payments” on medical bills, the website says. You don’t need good credit to get a loan. Everyone is approved.
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Some credit cards advertised by hospitals lure in patients with rosy promises of convenient, low-interest payments on big bills. But interest rates soar if you can't quickly pay off the loan.