Mon. Jun 17th, 2024
Sen. Warren introduces legislation targeting corporate misconduct in the health care sector – NBC Boston

U.S. Senator Elizabeth Warren has recently introduced a new bill that aims to prevent cases of corporate greed in the health care industry. The bill, titled “Corporate Crimes Against Health Care,” includes new penalties and regulations for executives who put patient safety and access to care at risk.

The proposed legislation would establish a criminal penalty that could result in executives going to prison for up to six years if they loot health care entities like nursing homes and hospitals, resulting in a patient’s death. One of the key issues being addressed by this bill is the financial management of Steward Health Care under CEO Ralph de la Torre. Steward’s sale of its hospital land in 2016 led to massive debt, as executives struggled to make payments to landlords and vendors.

Under Warren’s proposed legislation, state attorneys general would be allowed to recover compensation from private equity executives over a 10-year period, both before and after a health care provider goes through financial difficulties due to looting. Additionally, the bill includes more reporting requirements for health care providers that receive federal funding.

Warren’s press conference outlining the bill took place across the street from Steward’s St. Elizabeth’s Medical Center in Brighton. The goal of the legislation is to hold health care executives accountable for any actions that endanger patient safety and access to care. By imposing new penalties and regulations, Warren hopes to prevent future cases of corporate greed from negatively impacting the health care system.

By Aiden Nguyen

As a content writer at newscholarly.com, I delve into the realms of storytelling with the power of words. With a knack for research and a passion for crafting compelling narratives, I strive to bring forth engaging and informative articles for our readers. From decoding complex concepts to unraveling current events, I aim to captivate and educate through the art of writing. Join me on this journey as we explore the ever-evolving landscape of news and knowledge together.

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