Warren and Markey Push Legislation to Penalize Private Equity Misconduct in Health Care
The proposed bill seeks to impose prison time for executives whose actions jeopardize patient safety and lead to financial instability in health care institutions.
- The Corporate Crimes Against Health Care Act aims to hold executives accountable for endangering patient health through aggressive financial practices.
- Executives could face up to six years in prison if their actions result in a patient's death.
- The bill would allow the Department of Justice to reclaim executive compensation up to ten years before or after a health care firm's financial collapse.
- The legislation includes provisions for public reporting of mergers, acquisitions, and financial data by health care providers receiving federal funding.
- Critics argue the bill is politically motivated and could deter investment in health care innovations.
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