If you’re wondering why you don’t hear more about private equity from physicians, it’s because some of them receive significant financial gain from selling to PE and the ones who don’t, the doctors who have to work as an employee under PE, are contractually prohibited from speaking out against ole Barty Banks. It’s really bad.
What about physicians who don't agree with mask or COVID vaccine mandates? The media crucifies them for even daring to speak their opinion because they're ostensibly "against science". But science involves the process of constant criticism of established orthodoxies and refinements for better outcomes overall. Scientific healthcare professionals aren't out to deify, but always question and critique.
No character in the Glaucomverse has a more punchable face than Bartholomew Banks. Which is funny, because he has the same face as every other character.
I interviewed with a private equity group, and the physicians interviewing me had the same "Get Out" vibes. When one of them offered to put in a good word for me with a non-private equity group in the area, one of the corporate recruiters instantly entered the room and sat in on the remainder of the interview. It was apparent she had been eavesdropping. I just hope that doc didn't get in too much trouble. Needless to say I did not take that job.
I want to see Banks wheeled into his own “investment” with locked in syndrome and no ID, treated just like he demands patients who can’t afford treatment are treated.
I'm and MBA student, and I have a few colleagues looking into PE. Very proud of my accounting prof who, in a required class, called our private equity for "sucking the life" out of what they buy and "hollowing out" the workforce. The finance bros were so shell shocked it was incredible.
Reminds me of what I like to call the "Costco Effect." People want to optimize Costco, to pay the workers less, increase prices, and trim the fat. The thing is, people go to Costco because the people who work there are happy to work there and because the prices are good. If you incrementally make it a worse place to be, people won't want to go there. Instead of looking at next-quarter gains, look at multi-year continued success. It's healthier for all.
@@ae3qe27u3 That would require that they actually care about the long-term prospects of the business and not just getting as much profit as fast as possible and getting out before the whole thing collapses.
I just finished my MBA last month, and my M&A professor ripped into PE. I work in PE all my colleagues are finance bros, and I 110% take my professor’s side Private equity IS soul sucking
As a software engineer I too despise the finance bros. You can only imagine how terrible their technically inept ideas are. At least I don't have to deal with the most morally bankrupt among them though, but I feel for the poor hospital professionals. I only have to deal with finance bros running with as much direction about technology as chickens without their heads and that's terrible already.
In international waters... with a mysteriously unregistered ship nearby that had absolutely nothing to do with it... and was miraculously able to save only the lives of the working-class staff... such a tragic hypothetical event.
Imagine if doctors weren’t so drained from burnout that they actually had the will to fight against the systemic inferiority of the care and get a reminder that the medical errors and bad outcomes impact the patients most of all. The medical community general acceptance and apathy and total disconnect from the actual delivered product is just as bad of a mentality as the private equities.
@@lijohnyoutube101 Private equities don't do this out of a mentality though. They're doing it because thats literally what the system calls for, its in their nature as a business offering a service to make as much profit as they can. The medical community need to work to survive, I dont think theres much they can do to address private equities.
@@hongo9111 absolutely it’s a business model I COULD not agree more…but it’s a business model BECAUSE that mentality is allowed to exist. The business exists because it provides benefits for some in the way of profits. If the mentality wasn’t accepted people wouldn’t work there, regulations would exist to cease activities that actively cause harm, etc etc Evil exists in trillions of ways in our society and monsters justify, and the weak benefit and turn the other cheek and few with power raise their voices as having power often is obtained from a balance of control and not rocking the boat. What exists in a society is what happens because we all allow it to exist.
I went through this with my doc (medical assistant). He was private practice internal medicine, sold to Kennedy, which was bought out by one corporation, which was then in turn bought out by another. Corporate Healthcare is such a nightmare 😫
Lawmakers care about what gets them reelection wins. If they don’t get reelected they can’t do anything at all. Lawmakers with few exceptions . Want something to get changed… get people to care. Also politics is a very very deep topic with vast complexity and rather than studying and understanding it many are brainwashed to hate it and write it off instead to become educated and wade in to play. Also we tell great lies in this society as to the general cognitive functioning of adults. Approximately 25 percent of adults in the US aren’t literate or understand basic problem analysis beyond 3rd grade level with some somewhat small variation from state to state in the data and the given nature of a particular study. We pretend to walk among mostly stable adults with decent reasoning skills but it’s sadly far from true.
Omg I relate so much to this. Im 🤏this close to quitting my job because of this same reason. The peoples lives we save.. the look in their eyes when they see the final bill.. knowing they may have nothing to go back to.... haunts me.. literally haunts.
Thank you for shining light on the greed that has infiltrated HC. No human was born wanting financial ruin from a surprise medical condition. It is unethical to literally bleed people dry. I believe that if we keep shining light on this matter (ESPECIALLY AS MORE BOOMERS ENTER HC FACILITIES); people will see the need for reform.
I love these “insights into the reality of commercial medicine” videos you do. I’ve watched dozens if not hundreds of your vids and I remember aspects of them, the characters, the humor… but the one I remember best and most entirely is a doc trying to get a procedure approved from the insurance call center… what’s sad is that as funny as they are, they don’t detract from the truth of the thing: Our medical care, insurance, regulatory, and pharma systems are ALL so fucked up we may never be able to fix them… and that’s heartbreaking. 💔
@@Birdsong-Annalee I agree with that statement completely, but the people who would be setting those regulations are controlled by greed. We could fix it, it's not broken beyond repair. The people who's job is to fix it are the ones broken.
Every attempt in the past two decades was killed in house committees, there will likely be more progressive people in office in the next few cycles so we might be able to have serious chances soon
Will not lie, as a resident, one of the dreaded things we have to do some times is call insurance companies - especially when we're pretty sure a high risk patient may not be able to do it themselves. One of my proudest moments remains getting PA for a VERY NECESSARY med for a patient about to be discharged from the hospital in the evening. It meant staying late, but getting that "ok" from the insurance rep gave me peace of mind that night that was priceless.
@@Birdsong-Annalee you just said exactly the same thing they said… we need regs to manage corporate greed and price gouging. I’m confused what you’re taking issue with… you seem to be in full agreement with each other.
I'm from Germany 🇩🇪 and our healthcare system really isn't perfect, but this makes me wanna cry 😢. Guys, I hope one day you all have universal healthcare. You deserve it 😘. Much love ❤
@@Birdsong-Annaleeour system recently allowed private equity to buy/run doctor‘s practices. so, the GP around the corner might work for PE. clearly taking away the wrong lessons from the US.
@@julesk1567The problem is that any government system is going to be run by people, and there's a percentage of humanity who can always be bought, even if it means leaving the people they ostensibly serve vulnerable to financial predation.
@@julesk1567 yes, but we also had private hospitals for a long time. I absolutely believe that hospitals should be municipally run, but the private hospitals are not running amok. They negotiate their payments with the association of public health insurance and _they_ have a strong hand.
No, thanks. I'd rather get surgery when I actually need it and have increased chances of cancer survival if the disease ever finds me. Redistributing an out-of-control cost is almost never an effective solution; it only costs the average, tax-paying citizen far more than it should. The first rule of economics is supply and demand. Government invasion of corporations always hampers supply and drives cost increases. Then, the imbecilic leftists resolve to redistribute the problem instead of addressing it. If you want to decrease the costs of healthcare overnight, stop treating everyone who walks into an ED with a jammed toe having no intention whatsoever to compensate highly educated and skilled employees for their time and services.
There's nothing inherently wrong with private healthcare. Up until very recently (1970s) it was perfectly affordable but then hospitals started becoming corporatized at the same time the government began imposing one regulatory hurdle after the next, driving up patient care costs. Just like with seemingly every other sector, hospitals are being consolidated into the ownership of fewer and fewer hands which, in turn become more and more distant from their customers/patients. Really, we should be looking to how things were done in the past, before costs started skyrocketing and attempt to recreate those conditions instead of another system.
I spent 1 year being instructed to risk my PA license, and more importantly patient safety, working with a company that was acquired by a private equity firm while I was in contracting/credentialing. I did what I could to speak up and do right by my patients and resigned with my soul mostly intact the day my contract expired. Never. Again.
I am from Canada, just started a residency in an American program. The very 1st lecture we had during orientation was about proper charting to ensure "maximum billing." All tests and diagnostic procedures in EPIC have price tags, and costs are horrendous. A pelvic ultrasound is over 5K, although one could get a CT scan with reading in another state for $250. Some attendings are cognizant about a possible financial burden for a patient, but some care only about "maximum billing." It is hard to process.
As a doc and PNHP member I'm so thrilled to see you use your platform to put out these messages! People need to see how bad things are. Hopefully they will vote change!
We need greed out of the equation to preempt those who prioritize wealth over health. Thank you for shining a light on inequities so we can fix our system.
THIS!!! This right here is why as a non-medical person no longer trusts hospitals. I'm sure there are so many AMAZING doctors, nurses, and staff, but they must follow protocol.
I just have to appreciate the banner at the bottom that says "From a doctor licensed in the US." The best comedy is the closest to the truth, and sir, this is nervous laughter.
Getting a hard truth across without breaking character or losing the light tone? Frkn genius. Comedy really is the hardest art. Well done, Dr G. And I'm an old ER nurse, so i don't compliment doctors! 😂
My husband still lives in the US, I am in Canada. The health care situation there is so very frightening to me. I hope everyday that nothing bad happens to him before he can immigrate.
@@JohanWXC you know nothing about the Canadian health care system. You obviously bought into the propaganda in the USA. There is no income cap. Also why are you bringing in doctors in India? They have a different system to Canada... Plus 200 a day? Bull! At 15 minutes a patient that would take 50 hours. You really have to get off the propaganda and conspiracy theories.
As I listened, I could feel reactions well up like anger, fear, sadness and, finally, some hope. Thank you, Dr. Glaucomflecken. That was quite a scary trip and well worth the ride.
I'm currently in law school, but I have a background in the business side of healthcare (not PE though). I've taken several health law courses and the more I learn about PE, the less I like them. And it's not just human healthcare. Our vets are being snatched up too, all over the country. They're pushing profit over everything else, forcing vets to work ridiculous hours, dropping non-money-making services (like boarding animals, especially cats).
I'm a vet with a small private practice. PE has parasitized this profession. They've ruined some good clinics in this area. I'm glad to see that others like yourself are seeing it too. Private equity has ruined a lot of businesses across the spectrum
Thankfully where i live and who i work for in emergency mediicne is really great at standing for affordability for p.t care and striving for making each patient being welcomed! I love where i work. Makes me feel like i actaully make a difference!
אני מישראל כך שאני לא נתקל לשמחתי הרבה בבעיות האלה בתור רופא.. משמח לראות את הצעד הקטן לרווחת המטופלים. שמח לצפות בתוכן שלך ולצחוק עד עמקי נשמתי.. בהצלחה!!
@@smellypatel5272shut the hell up and focus on your self you piece of shit bastard and stop believing in lies just because you want to always find someone to blame for your issues this is why the youtuber doesn’t like you you act like you are in private equity
Just noticed... PE also stands for Pulmonary Embolism, where a clot goes to your lungs, makes your heart useless, and can kill you dead. Great metaphor!
The same thing has been happening in dentistry. Consolidation of dental practices isn't insidious in itself, but when a lot of these practices are being bought up by private equity backed corporations there is a conflict of interest. That being the best interests of the patients we serve vs the best interests of the shareholders.
These are the most educational - and terrifying - clips, and explain SO much about what we hear in a more general sense regarding US 'healthcare.' Scary, scary, stuff ...
To other doctors in residency out there, you are 100% a fool to join a PE owned group. My last group cut health insurance to increase the bottom line LMAO. Pinching Pennies to make it more profitable and this easier to sell. The challenge - find me 1 single PE doctor who wasn’t bought out (an associate) that says “I love my PE job.” You won’t find it
What is interesting is for profit hospitals are almost non existent in Northern California. But in Southern California they are extremely common and may be the majority.
Hey Doc, could you per chance link the resources you cited in your short? I have a friend that thinks that PE-acquired health systems perform just as good as independently owned health systems. From the quick google search we did, most economic journals from big name institutions (e.g. UPenn, Harvard) says that "...we did not find any evidence of significant reductions in the most unprofitable service lines." I personally could not review the actual article that they are quoting due to the expensive paywall, so there's definitely room for additional scrutiny. Love to hear your thoughts on this and enjoyed the video as well.
news.ohsu.edu/2022/09/02/study-raises-red-flags-about-corporatization-of-health-care-ohsu-investigator-says this is an article that references the study I’m talking about.
Private equity investment companies (e.g. BlackRock) aren't just doing this to healthcare, they're doing it to pretty much every sector across the country. Housing, manufacturing, automotive, etc. Short-term thinking by people whose only concern is the next fiscal quarter, not long-term outlook for the sake of the company/hospital/factory/etc.
Bartholomew Banks is utterly committed to the grind. Glauc University's Banks Hospital is lucky to have such a devoted manager. *Biggest /s in human history*
I wonder if these are the same financial geniuses who figured out that they can replace doctors with NPs, PAs, CRNAs and bill patients the same. But just think of how good the champagne in their hot tub is.
Fantastic video that highlights the moral bankruptcy of profit driven Healthcare, but I'm also wondering why the left side of the docs glasses frame looks like that
A lot of private medical practices on Long Island have sold to giant non profit health corporations where services can all be referred and performed in house. Most of these mega non profits operate similar to PE. Disingenuous to pick on only PE for being money driven when I could not find an in plan anesthesiologist when having a colonoscopy. A lot of people in the medical field (doctors included) are chasing the dollar.
The government and insurance companies carry much of the blame for the anesthesiologists not being willing to take the poor reimbursements from your insurance for their services. In short, the government sets rates through Medicare (relative value units) to try to establish what relative fees should be for different services. Most insurance companies are lazy and just adopt these same proportions to some degree. As a result, some services are reimbursed very poorly while others are reasonable and others are quite lucrative. I have real world examples of how those fees can be all over the board and make no sense to those involved with the provision of those services. Now, if the GI doctors get reimbursed sufficiently, they will choose to participate with your insurance and their rates of pay. If your insurance reimburses poorly for anesthesia, the anesthesia doctors can choose not to participate with your insurance. It doesn't necessarily make them greedy for not being willing to accept really poor reimbursement for their services.
So you're telling me thay you can purposely try to fail this job interview and still get it vause they got no one to work for them and they dont pay you?
![100 Days - [Minecraft Creative 2]](http://i.ytimg.com/vi/OmogWsk_ZZg/mqdefault.jpg)
If you’re wondering why you don’t hear more about private equity from physicians, it’s because some of them receive significant financial gain from selling to PE and the ones who don’t, the doctors who have to work as an employee under PE, are contractually prohibited from speaking out against ole Barty Banks. It’s really bad.
That why the medical costs are so high?
What about physicians who don't agree with mask or COVID vaccine mandates? The media crucifies them for even daring to speak their opinion because they're ostensibly "against science". But science involves the process of constant criticism of established orthodoxies and refinements for better outcomes overall. Scientific healthcare professionals aren't out to deify, but always question and critique.
Can you blame people for wanting to earn some money? I think it is jelousy speaking, you'd rather be Banks but don't have a bank account for it.
What do you recommend to combat private equity involvement in healthcare?
@@SamianHQuazi nothing to do with the topic at hand
No character in the Glaucomverse has a more punchable face than Bartholomew Banks. Which is funny, because he has the same face as every other character.
I can smell the cologne and arrogance through the screen.
Seems like a Draco Malfoy kinda guy - gets even slightly offended "OH, MY LAWYER OUTTA HERE ABOUT THIS!"
@@emphasis20Even his photos ooze snake oil from the frames.
Idea: sell a BB punching bag paired with a Jonathan nodding figurine; J figurine automatically nods every time BB is punched. 🤣
@@maggiedhue9349Which is coincidentally what he slicks his hair back with.
"Hey mom! I totally aced that interview."
"That's great honey. So you got the job?"
"Nah, bolted out the door. They're not getting my soul today!"
I interviewed with a private equity group, and the physicians interviewing me had the same "Get Out" vibes. When one of them offered to put in a good word for me with a non-private equity group in the area, one of the corporate recruiters instantly entered the room and sat in on the remainder of the interview. It was apparent she had been eavesdropping. I just hope that doc didn't get in too much trouble. Needless to say I did not take that job.
What the fuck what the fuck what the fuck
Now that’s horrifying, you think the recruiter had something set up in the room or did she really put her ear on the door for your interview xd
Oh good lord. We’re all doomed aren’t we?
Good thing we live in a free country /s
Definitely not corporate pawns.
The land of the free
I'd love to see a face off between Jonathan and Bartholomew Banks.
Bartholomew Banks will sell everything to Jonathan
@@AznJsn82091 I just need to see Banks break under Jonathan's holy gaze.
@@AznJsn82091jfc, don't we all wish.
I want to see Banks wheeled into his own “investment” with locked in syndrome and no ID, treated just like he demands patients who can’t afford treatment are treated.
Lol I foresee the first head shake from Jonathan
I'm and MBA student, and I have a few colleagues looking into PE.
Very proud of my accounting prof who, in a required class, called our private equity for "sucking the life" out of what they buy and "hollowing out" the workforce. The finance bros were so shell shocked it was incredible.
Reminds me of what I like to call the "Costco Effect." People want to optimize Costco, to pay the workers less, increase prices, and trim the fat. The thing is, people go to Costco because the people who work there are happy to work there and because the prices are good. If you incrementally make it a worse place to be, people won't want to go there.
Instead of looking at next-quarter gains, look at multi-year continued success. It's healthier for all.
@@ae3qe27u3 That would require that they actually care about the long-term prospects of the business and not just getting as much profit as fast as possible and getting out before the whole thing collapses.
I just finished my MBA last month, and my M&A professor ripped into PE. I work in PE all my colleagues are finance bros, and I 110% take my professor’s side
Private equity IS soul sucking
I'll be done my MBA in a month. These learnings plus medical school have my brain in knots of conflict and confusion.
As a software engineer I too despise the finance bros.
You can only imagine how terrible their technically inept ideas are.
At least I don't have to deal with the most morally bankrupt among them though, but I feel for the poor hospital professionals. I only have to deal with finance bros running with as much direction about technology as chickens without their heads and that's terrible already.
It would be a tragic shame if Mr. Bank's yacht suddenly became a submarine in the middle of the Caribbean.
"Here orca orca orca"
In international waters... with a mysteriously unregistered ship nearby that had absolutely nothing to do with it... and was miraculously able to save only the lives of the working-class staff... such a tragic hypothetical event.
@@BirchMonkey857 Tragic, so tragic. I do hope their bodies don’t poison the fish. 😂😂😂😂
"It imploded."
...Too soon?
@@IsyAweigh Never 😂
Dr G..you are great for making these straight shooting videos aimed at the corrupt and heartless corporations.
I actually felt relieved at the end of this video that Interview Bro managed to keep his soul.
Maybe he hasn't gotten his first Student Loan Repayment bill yet.
Stay Strong, Interview Bro!!
Interview Bro ❤
Imagine if the medical errors and bad outcomes impacted the finances of private equities? Instead of the burden of risk on the physicians.
Problem is that denying paying for care (which cause said bad pt outcomes) is PROFITABLE for these ppl. 😢
Imagine if doctors weren’t so drained from burnout that they actually had the will to fight against the systemic inferiority of the care and get a reminder that the medical errors and bad outcomes impact the patients most of all. The medical community general acceptance and apathy and total disconnect from the actual delivered product is just as bad of a mentality as the private equities.
@@lijohnyoutube101 Private equities don't do this out of a mentality though. They're doing it because thats literally what the system calls for, its in their nature as a business offering a service to make as much profit as they can. The medical community need to work to survive, I dont think theres much they can do to address private equities.
@@hongo9111 absolutely it’s a business model I COULD not agree more…but it’s a business model BECAUSE that mentality is allowed to exist. The business exists because it provides benefits for some in the way of profits. If the mentality wasn’t accepted people wouldn’t work there, regulations would exist to cease activities that actively cause harm, etc etc
Evil exists in trillions of ways in our society and monsters justify, and the weak benefit and turn the other cheek and few with power raise their voices as having power often is obtained from a balance of control and not rocking the boat. What exists in a society is what happens because we all allow it to exist.
Nah, PE is all about privatizing profits and socializing losses.
I went through this with my doc (medical assistant). He was private practice internal medicine, sold to Kennedy, which was bought out by one corporation, which was then in turn bought out by another. Corporate Healthcare is such a nightmare 😫
What frustrates me the most is how easy we could fix it if our lawmakers cared
Unfortunately, they don't because they do not receive the low quality care that the common folk get...so why do they care?
The lawmakers can't hear the sound of their consciences over the whirring of their yacht engines...
If they would care they would not be in the positions of the lawmakers.
Lawmakers care about what gets them reelection wins. If they don’t get reelected they can’t do anything at all. Lawmakers with few exceptions . Want something to get changed… get people to care.
Also politics is a very very deep topic with vast complexity and rather than studying and understanding it many are brainwashed to hate it and write it off instead to become educated and wade in to play. Also we tell great lies in this society as to the general cognitive functioning of adults. Approximately 25 percent of adults in the US aren’t literate or understand basic problem analysis beyond 3rd grade level with some somewhat small variation from state to state in the data and the given nature of a particular study. We pretend to walk among mostly stable adults with decent reasoning skills but it’s sadly far from true.
@@christinefischer2137I don’t agree with that for the majority.
Omg
I relate so much to this. Im 🤏this close to quitting my job because of this same reason. The peoples lives we save.. the look in their eyes when they see the final bill.. knowing they may have nothing to go back to.... haunts me.. literally haunts.
It sucks the soul right out of you, doesn't it? 😢
There is so much good you can do in another role. Best wishes to you!
I was wondering when Barty Banks was going to make a comeback! Great video, doc!
Thank you for shining light on the greed that has infiltrated HC. No human was born wanting financial ruin from a surprise medical condition. It is unethical to literally bleed people dry.
I believe that if we keep shining light on this matter (ESPECIALLY AS MORE BOOMERS ENTER HC FACILITIES); people will see the need for reform.
I love these “insights into the reality of commercial medicine” videos you do. I’ve watched dozens if not hundreds of your vids and I remember aspects of them, the characters, the humor… but the one I remember best and most entirely is a doc trying to get a procedure approved from the insurance call center… what’s sad is that as funny as they are, they don’t detract from the truth of the thing:
Our medical care, insurance, regulatory, and pharma systems are ALL so fucked up we may never be able to fix them… and that’s heartbreaking. 💔
We would be able to fix them, it's just we need regulations to stop the greed, and that's not going to happen.
@@Birdsong-Annalee I agree with that statement completely, but the people who would be setting those regulations are controlled by greed.
We could fix it, it's not broken beyond repair. The people who's job is to fix it are the ones broken.
Every attempt in the past two decades was killed in house committees, there will likely be more progressive people in office in the next few cycles so we might be able to have serious chances soon
Will not lie, as a resident, one of the dreaded things we have to do some times is call insurance companies - especially when we're pretty sure a high risk patient may not be able to do it themselves.
One of my proudest moments remains getting PA for a VERY NECESSARY med for a patient about to be discharged from the hospital in the evening. It meant staying late, but getting that "ok" from the insurance rep gave me peace of mind that night that was priceless.
@@Birdsong-Annalee you just said exactly the same thing they said… we need regs to manage corporate greed and price gouging. I’m confused what you’re taking issue with… you seem to be in full agreement with each other.
As a physician, I have seen this first hand. One reason (of the many) that medical care costs so much is that medicine is now run by big corporations.
I'm from Germany 🇩🇪 and our healthcare system really isn't perfect, but this makes me wanna cry 😢. Guys, I hope one day you all have universal healthcare. You deserve it 😘. Much love ❤
Thank you ! Your system is a good example of what works for ALL.
@@Birdsong-Annaleeour system recently allowed private equity to buy/run doctor‘s practices. so, the GP around the corner might work for PE.
clearly taking away the wrong lessons from the US.
@@julesk1567only in berlin. berlin doesn’t belong to germany
@@julesk1567The problem is that any government system is going to be run by people, and there's a percentage of humanity who can always be bought, even if it means leaving the people they ostensibly serve vulnerable to financial predation.
@@julesk1567 yes, but we also had private hospitals for a long time. I absolutely believe that hospitals should be municipally run, but the private hospitals are not running amok. They negotiate their payments with the association of public health insurance and _they_ have a strong hand.
As someone who works in healthcare in Europe....
America. We need to have a chat.
please don't, else our financial sectors could get ideas... just look at the uk...
Or Sweden...
B**chslap us into sanity, please!!
No, thanks. I'd rather get surgery when I actually need it and have increased chances of cancer survival if the disease ever finds me. Redistributing an out-of-control cost is almost never an effective solution; it only costs the average, tax-paying citizen far more than it should. The first rule of economics is supply and demand. Government invasion of corporations always hampers supply and drives cost increases. Then, the imbecilic leftists resolve to redistribute the problem instead of addressing it. If you want to decrease the costs of healthcare overnight, stop treating everyone who walks into an ED with a jammed toe having no intention whatsoever to compensate highly educated and skilled employees for their time and services.
There's nothing inherently wrong with private healthcare. Up until very recently (1970s) it was perfectly affordable but then hospitals started becoming corporatized at the same time the government began imposing one regulatory hurdle after the next, driving up patient care costs. Just like with seemingly every other sector, hospitals are being consolidated into the ownership of fewer and fewer hands which, in turn become more and more distant from their customers/patients. Really, we should be looking to how things were done in the past, before costs started skyrocketing and attempt to recreate those conditions instead of another system.
I spent 1 year being instructed to risk my PA license, and more importantly patient safety, working with a company that was acquired by a private equity firm while I was in contracting/credentialing. I did what I could to speak up and do right by my patients and resigned with my soul mostly intact the day my contract expired.
Never. Again.
This eye doctor is unstoppable. Taking on Goliath just by himself
I am from Canada, just started a residency in an American program. The very 1st lecture we had during orientation was about proper charting to ensure "maximum billing." All tests and diagnostic procedures in EPIC have price tags, and costs are horrendous. A pelvic ultrasound is over 5K, although one could get a CT scan with reading in another state for $250. Some attendings are cognizant about a possible financial burden for a patient, but some care only about "maximum billing." It is hard to process.
thats where unregulated extreme capitalism takes you... unless people have ethics, everything will become for-profit only
As a doc and PNHP member I'm so thrilled to see you use your platform to put out these messages! People need to see how bad things are. Hopefully they will vote change!
If you didn’t get the PE job, you aced the interview.
You get it so right, every single time. Genius! Thanks for all you do!❤
We need greed out of the equation to preempt those who prioritize wealth over health. Thank you for shining a light on inequities so we can fix our system.
You really need to add a thunder sound effect between "bartholomew banks" and "private equity"
also you're a very good actor
That thunder sound would be really dope. 😅😅
Please look after yourself. You speak unspeakable truths!!!❤
THIS!!! This right here is why as a non-medical person no longer trusts hospitals. I'm sure there are so many AMAZING doctors, nurses, and staff, but they must follow protocol.
Here's to all those "Good" "Compassionate" people, who are so fiercely determined to ensure that "Nothing Fundamentally Changes."
I just have to appreciate the banner at the bottom that says "From a doctor licensed in the US." The best comedy is the closest to the truth, and sir, this is nervous laughter.
You are literally the only channel I watch every, single, video from. Gold every time
employers will 200% lie to you with no hesitation. This interviewer must be new; still has a conscience
Getting a hard truth across without breaking character or losing the light tone? Frkn genius. Comedy really is the hardest art. Well done, Dr G. And I'm an old ER nurse, so i don't compliment doctors! 😂
PE:
1) A leading acute cause of patient mortality; may present with shortness of breath, chest pain, and signs of distress.
2) Pulmonary Embolism
I am in finance but wanted to be a doc, Your P.E videos are pure gold for me🤣💛
watching this after being billed $5,000 for surgery ($1,200 of which was for being in a recovery room for 45 minutes) really hits different
My husband still lives in the US, I am in Canada. The health care situation there is so very frightening to me. I hope everyday that nothing bad happens to him before he can immigrate.
@@JohanWXC you know nothing about the Canadian health care system. You obviously bought into the propaganda in the USA. There is no income cap. Also why are you bringing in doctors in India? They have a different system to Canada... Plus 200 a day? Bull! At 15 minutes a patient that would take 50 hours.
You really have to get off the propaganda and conspiracy theories.
This is your best kind of content. Getting the message out to the younger generations who can hopefully bring change.
As I listened, I could feel reactions well up like anger, fear, sadness and, finally, some hope. Thank you, Dr. Glaucomflecken. That was quite a scary trip and well worth the ride.
I'm currently in law school, but I have a background in the business side of healthcare (not PE though). I've taken several health law courses and the more I learn about PE, the less I like them. And it's not just human healthcare. Our vets are being snatched up too, all over the country. They're pushing profit over everything else, forcing vets to work ridiculous hours, dropping non-money-making services (like boarding animals, especially cats).
I'm a vet with a small private practice. PE has parasitized this profession. They've ruined some good clinics in this area. I'm glad to see that others like yourself are seeing it too. Private equity has ruined a lot of businesses across the spectrum
You're one of the first people I've ever seen talk about this openly.
I LOVE these super pointed videos!! Perfection.
I’m glad you make videos like this, Dr G.
The "From a doctor licensed in the US" label is perfect here
The greatest intro in any Dr. Glaucomfleken video is “Bartholomew Banks… Private Equity.”
Yes, the Doc tells it how it is!
Good one 👏🏻👍🏻
I love you, Doc Glauc. Thank you for speaking on this. ♥️
Love the different pictures!
Great video hopefully we will see how to ace your neurology interview in the future
Spot on brother... but since you just read this I got this pain in my lower back and wondered....
Scathingly awesome...👍 You've got a new subscriber on the first visit.
Amazing video. Thank you Dr. G
Thankfully where i live and who i work for in emergency mediicne is really great at standing for affordability for p.t care and striving for making each patient being welcomed! I love where i work. Makes me feel like i actaully make a difference!
Thanks for shedding light
Orcas vs Barty Banks! I'm so excited for that match!
Keep these coming. More people in medicine need to start making videos like this.
אני מישראל כך שאני לא נתקל לשמחתי הרבה בבעיות האלה בתור רופא.. משמח לראות את הצעד הקטן לרווחת המטופלים. שמח לצפות בתוכן שלך ולצחוק עד עמקי נשמתי.. בהצלחה!!
Funny because it's usually the ✡️'s who push for these greedy practices.
Iam from Germany and sadly I sometimes do. Anytime a government worker decides that it's not necessary you will never get it.
@@Dloin It's "his people" who push for those practices that leech out $$
@@smellypatel5272antisemitism much? Though, I may have to look up whether this Banks guy's a jew
@@smellypatel5272shut the hell up and focus on your self you piece of shit bastard and stop believing in lies just because you want to always find someone to blame for your issues this is why the youtuber doesn’t like you you act like you are in private equity
I love this man ❤❤❤
the first rule of private equity is: do not sell out to private equity.
the second rule of private equity is:
DO NOT SELL TO PRIVATE EQUITY
Jimothy, you knew what you were signing up for!
Thank you for these posts.
I work with some of the best cardiologists in the country and it kills me to see them getting the life sucked out of them by corporate overlords.
The private equity parasite has slithered into my field (veterinary medicine) as well. This video is spot on
Just noticed...
PE also stands for Pulmonary Embolism, where a clot goes to your lungs, makes your heart useless, and can kill you dead.
Great metaphor!
One can only wonder what would come between Private Equity and Neurology. If they even cross paths that is
Amazing, it is good to hear from a doctor. This is same in India as well, no difference.
I am sitting on the edge everyday waiting for a vid drop from u man
The same thing has been happening in dentistry. Consolidation of dental practices isn't insidious in itself, but when a lot of these practices are being bought up by private equity backed corporations there is a conflict of interest. That being the best interests of the patients we serve vs the best interests of the shareholders.
I love the rushed baffled defense of “I don’t think we want the same thing.”
These are the most educational - and terrifying - clips, and explain SO much about what we hear in a more general sense regarding US 'healthcare.'
Scary, scary, stuff ...
To other doctors in residency out there, you are 100% a fool to join a PE owned group. My last group cut health insurance to increase the bottom line LMAO. Pinching Pennies to make it more profitable and this easier to sell.
The challenge - find me 1 single PE doctor who wasn’t bought out (an associate) that says “I love my PE job.” You won’t find it
What is interesting is for profit hospitals are almost non existent in Northern California. But in Southern California they are extremely common and may be the majority.
Love the videos, but now scared to visit any doctor!! 😂
Beautiful. So true!
You the best G!
Not quite first but we weren't aiming for first. We were aiming for first in class...
I can’t wait for Dr. Orca to find him on that yacht.
"This place smells terrible" reminds me a lot of Agent Smith's speech in the Morpheous interrogation scene of the Matrix.
How you nail it each time beats me!
Ok this makes me tick the bell. Lol subbed and bell now. I need it all now. I need an i.v. of this guys content
To win is to not participate.
Hey Doc, could you per chance link the resources you cited in your short? I have a friend that thinks that PE-acquired health systems perform just as good as independently owned health systems. From the quick google search we did, most economic journals from big name institutions (e.g. UPenn, Harvard) says that "...we did not find any evidence of significant reductions in the most unprofitable service lines." I personally could not review the actual article that they are quoting due to the expensive paywall, so there's definitely room for additional scrutiny.
Love to hear your thoughts on this and enjoyed the video as well.
news.ohsu.edu/2022/09/02/study-raises-red-flags-about-corporatization-of-health-care-ohsu-investigator-says this is an article that references the study I’m talking about.
@@DGlaucomflecken Many thanks
Private equity investment companies (e.g. BlackRock) aren't just doing this to healthcare, they're doing it to pretty much every sector across the country. Housing, manufacturing, automotive, etc. Short-term thinking by people whose only concern is the next fiscal quarter, not long-term outlook for the sake of the company/hospital/factory/etc.
Bartholomew Banks is utterly committed to the grind. Glauc University's Banks Hospital is lucky to have such a devoted manager.
*Biggest /s in human history*
GOOD FOR YOU!! BRAVO
Great prop photos!
You are a superhero! ❤
When the joke is fun not because it's random, but because it's true 😂
😢
1:26 Soon as he said "you know, we want the same thing from healthcare" with his sly smile, I knew where it was going
I wonder if these are the same financial geniuses who figured out that they can replace doctors with NPs, PAs, CRNAs and bill patients the same.
But just think of how good the champagne in their hot tub is.
Fantastic video that highlights the moral bankruptcy of profit driven Healthcare, but I'm also wondering why the left side of the docs glasses frame looks like that
Thank you 👏🏾👏🏾👏🏾👏🏾
Bartholomew Banks speaking some foreign language understood only by other Bartholomew Banks.
Can't turn it down if they also own all the other hospitals in town though.
Very important video
They did a Good Doctor episode on this!
A lot of private medical practices on Long Island have sold to giant non profit health corporations where services can all be referred and performed in house. Most of these mega non profits operate similar to PE.
Disingenuous to pick on only PE for being money driven when I could not find an in plan anesthesiologist when having a colonoscopy. A lot of people in the medical field (doctors included) are chasing the dollar.
Yes doctors are not blameless. I have addressed this in other videos
The government and insurance companies carry much of the blame for the anesthesiologists not being willing to take the poor reimbursements from your insurance for their services. In short, the government sets rates through Medicare (relative value units) to try to establish what relative fees should be for different services. Most insurance companies are lazy and just adopt these same proportions to some degree. As a result, some services are reimbursed very poorly while others are reasonable and others are quite lucrative. I have real world examples of how those fees can be all over the board and make no sense to those involved with the provision of those services. Now, if the GI doctors get reimbursed sufficiently, they will choose to participate with your insurance and their rates of pay. If your insurance reimburses poorly for anesthesia, the anesthesia doctors can choose not to participate with your insurance. It doesn't necessarily make them greedy for not being willing to accept really poor reimbursement for their services.
So you're telling me thay you can purposely try to fail this job interview and still get it vause they got no one to work for them and they dont pay you?
The canon expands. A new challenger has appeared.