Protecting Patients from Financial Abuse in Healthcare
This Act introduces strict penalties for managers and investment funds whose risky financial decisions harm patients or lead to hospital closures. It ensures that profits made at the expense of health safety can be clawed back and redirected to employee wages and local medical care.
Key points
Prison sentences of 1 to 6 years for executives if their actions lead to patient death or injury.
Authority to claw back executive bonuses and profits from up to 10 years prior in the event of bankruptcy or facility closure.
Recovered funds will prioritize paying overdue employee salaries and protecting worker pension funds.
Ban on public funding (e.g., Medicare) for hospitals that sell off their assets to real estate investment trusts.
Mandatory public disclosure of ownership, debt levels, and investor fees for all healthcare facilities.
Status:
Introduced
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