The takeover of management of many sectors of healthcare by Wall St. Private Equity, Hedge Funds and other corporate investors over a period of decades, coincides with worsening U.S. health outcomes - e.g., reduced life expectancy and increased maternal and child mortality. In order to inflate profits, investment management firms commonly cut staffing, pay, benefits, and short equipment, even as some board-certified emergency physicians are replaced with less qualified practitioners. Such tactics as "Surprise Billing," "Upcoding" (exaggerating patient condition for greater profit), fee-splitting and the corporate practice of medicine are commonly employed to extract greater profits.
Traditional Medicare is currently targeted in a program initiated by the Trump administration, whose "Direct Contracting Entities" (DCEs) place profiteering middlemen between traditional Medicare recipients and their doctors. DCEs have been rebranded by the Biden administration the "REACH" program with the same goal to privatize traditional Medicare, moving recipients without their consent or knowledge into privatized coverage through private equity or other for-profit entity.