Cleveland Clinic CEO: ‘Deep financial trouble’ for hospitals under Senate ACA repeal bill
Toby Cosgrove, MD, CEO of the Cleveland Clinic, said Senate Republicans’ Better Care Reconciliation Act would squeeze hospitals already operating on thin margins without addressing the “root cause” of rising healthcare costs.
In a CNBC interview, Cosgrove cited the Congressional Budget Office’s estimate that 22 million more people would be uninsured by 2026 under the legislation, leading to a “burden” for hospitals serving patients who lack coverage and can’t pay out-of-pocket.
“If you have more patients coming in that are not paid, you're going to have hospitals that are in very deep financial trouble,” Cosgrove said. “And this is particularly true of rural hospitals and safety net hospitals, which are very dependent on Medicare and Medicaid for their returns.”
What Congress should be focusing on, according to Cosgrove, are drivers of rising costs like obesity, opioid abuse, smoking and pharmaceutical prices.
Read the full article at the link below:
John joined TriMed in 2016, focusing on healthcare policy and regulation. After graduating from Columbia College Chicago, he worked at FM News Chicago and Rivet News Radio, and worked on the state government and politics beat for the Illinois Radio Network. Outside of work, you may find him adding to his never-ending graphic novel collection.