Medical Malpractice Attorneys Seattle Washington
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In the middle of the COVID-19 pandemic, the well-funded healthcare startup Noble Health looked like exactly like the lifeline two rural Missouri hospitals needed. Instead, what followed was a story increasingly seen across rural communities throughout the country. Private investors stepped in, squeezed the hospitals for short term profits, and thanked the community by shuttering the two facilities with little warning or explanation. This is simply one recent example where private equity is no lifeline for rural hospitals.
At this point you may have read some of our prior pieces on private equity investing in healthcare. The goal of private equity is to buy cheap and generate high returns on a short turn around. Investors look for underperforming businesses and, in theory, turn them profitable. The US Healthcare system has seen an explosion of investment in the past twenty years, especially in specialty clinics like dermatology or plastic surgery.
The question gets asked every week across the country, though: should short-term return for shareholders supersede patient health and safety?
Perhaps it is a function of unscrupulous investors, or perhaps it is due to their lack of experience in healthcare. But the pattern repeats, and patients suffer, particularly in small communities. “In rural hospitals,” said Eileen O’Grady, a private equity researcher, “there are very few ways” to boost revenue and cut expenses “without having an impact on patient care.” Rural hospitals are often providing a need in far flung communities where the alternative for, say, a chemo infusion is an hour away.
Once Noble took ownership of the two hospitals, despite little experience managing healthcare, serious problems started. The hospitals stopped paying their bills and CMS inspections turned up 135 pages of deficiencies that put patients at risk. Noble corrected some deficiencies, but remained unwilling – or unable – to staff an overnight Emergency Room doctor. Through greed or mismanagement, Noble was very obviously putting members of the community at risk.
Rural hospitals are by no means cash cows – many struggle financially year after year. Still, private equity is there finding revenue streams – all too often by stripping the facility of valuable assets, paying high administrative costs, closing the facility, and moving on. Physicians and patients reported that after Noble moved in, drugs and supplies were suddenly unavailable, and much needed COVID funds were in part diverted to suddenly substantial administrative costs (paid to Noble and investors). The hospitals both closed in March, 2022. There has been no public announcement about a future reopening.
Why Hire Us As Your Medical Malpractice Attorneys?
If you or a loved one has suffered catastrophic harm due to a medical error, your family is already suffering from the stress related to it. CMG Law has been helping people like you pursue medical malpractice claims for over 40 years. With our experienced and accessible attorneys and staff, we use a team approach to lessen your burden through the entire process. Give us a call today for a free consultation and see if we are right for you. Medical Malpractice Attorneys Seattle Washington
What Areas Do We Serve?
Anywhere in Washington State. Although our office is in Seattle, we help injured patients all over Washington. This includes places like Tacoma, Bellingham, Everett, Spokane, Yakima, the Tri-Cities, and Vancouver. Whether you are in Whatcom County or Clark County, Grays Harbor or Spokane County, our firm has the strength and skill to assess your claim and counsel you regarding your legal options.
What Types of Claims Do We Handle?
We limit our practice to claims related to medical care, period. Our practice is as broad as the medical profession: if you believe a health care provider has acted wrongfully and caused you harm, we can help you understand your rights and determine if you have a claim that can be pursued.
