Sat. Jun 15th, 2024

Senator Warren Proposes Corporate Crimes Against Healthcare Act – NBC Boston

By meerna Jun12,2024

U.S. Sen. Elizabeth Warren introduced legislation Tuesday morning aimed at preventing future cases of “corporate greed” in the health care landscape like the one her office says led to the bankruptcy filing of Steward Health Care.

Standing across the street from Steward’s St. Elizabeth’s Medical Center in Brighton, Warren introduced her “Corporate Crimes Against Health Care” bill, which would establish new penalties and guardrails for health care executives who threaten patient safety and access to health care – including a new criminal penalty that could result in imprisonment for directors of up to six years.

According to Warren’s office, the penalty would apply to those who “looting health care facilities, such as nursing homes and hospitals, if the looting results in the death of a patient.”

Lawmakers, patients and health care workers are grappling with Steward’s financial management performance under CEO Ralph de la Torre. Steward sold the land on which the Massachusetts hospitals are located in 2016, a deal that saddled the system with massive debt as executives struggled to make payments to the owner, Medical Properties Trust and suppliers.

According to her office, Warren’s proposal would authorize state attorneys general to recover all compensation for private equity executives within 10 years before or after the acquired health care provider “experiences serious, avoidable financial hardship as a result of this depredation,” according to her office. her office. The bill also establishes more reporting requirements for health care providers receiving federal funds.

By meerna

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