*** Please forward widely ***
Please save the date for our virtual January forum on the evening of:
Tuesday, January 18 at 7:30 PM (Eastern Time)
Privatizing Medicare: The Impact on Patients and Doctors
The forum will be held via Zoom, all are welcome, and closed captioning will be provided.
Event will be recorded, with video link sent to all registrants.
Medicare has been a very successful public program since its inception in 1965. With 97% of physicians and hospitals accepting Medicare, it gives patients a wide range of choice. As a single payer non-profit system, it is financially efficient and equitable. But with the rising cost of healthcare, private health insurance companies are threatened by the Medicare model and have decided to enter the Medicare market.
Medicare Advantage, introduced in 2003, is a program in which private insurance companies administer healthcare to its Medicare beneficiaries. Since private insurance companies work to maximize their profit, they must limit healthcare costs. This results in less care for patients and lower reimbursement for doctors and hospitals. Medicare Advantage plans have also been known to “upcode”( to increase the number of diagnosis codes per patients) to collect more revenue from the Medicare Trust Fund, once again to maximize their profit.
“Medicare Advantage is the most lucrative niche in the insurance market, as long as Congress wants to keep it as such” (Robinson, JAMA Int. Med. Sept 2017). It is the antithesis of quality, cost-effective healthcare. Yet NYC has recently decided to move its retirees from traditional Medicare to an Advantage Plan. This has led to an outcry from the NYC retiree community who vehemently oppose a for-profit insurance company administering their medical care, one that will impose dire restrictions on healthcare delivery.
The Affordable Care Act formed the Medicare and Medicaid Innovation Center to develop and test new payment models. One of the most recent models is the “Direct Contracting Entity” (DCE). DCE’s enroll physicians into corporate run programs designed to benefit investors who have placed massive amounts of capital into developing these DCE’s.
Join us on January 18th to learn how privatization of Medicare will negatively impact both patients and physicians as it lines the pockets of Wall Street firms.
- Julie Schwartzberg, an activist and NYC DOH retiree involved in the fight against Medicare Advantage, will update us on the status of the issue in New York City”
- Ana Malinow, former president of PNHP and pediatrician in San Francisco, will enlighten us on how DCE’s function and how they may destroy traditional Medicare, as we know it.