SITUATION: Data shows that private-equity ownership in the healthcare industry has more than doubled in the last decade, often leading to higher healthcare costs, poor quality, and less access to care.
AB 3129—which was passed in the California State Assembly on May 21 and is now in the Senate Health Committee—will strengthen state prohibitions against private equity group abuses in healthcare.
California Attorney General Rob Bonta and Assembly Speaker pro Tempore Jim Wood (D-Healdsburg) introduced AB 3129, authorizing the A.G. to grant, deny, or impose conditions to a change of control or an acquisition between a private equity group or hedge fund, and a healthcare facility or provider group. AB 3129 will also reinforce the existing bar on the corporate practice of medicine, including the bar on the interference of private equity groups or hedge funds in the treatment of patients.
Without proper enforcement, predatory practices will continue to consolidate our healthcare system, driving up prices, reducing quality of care, and restricting access for patients.
ACTION: Contact your State Senator and voice your support for AB 3129. Contact friends and family who vote in California and urge them to contact their representatives.
And please share this message with friends, family and colleagues in the state of California.