When a private equity firm buys a medical practice, the business side of your healthcare undergoes a significant shift. While these corporate transitions are legal under Ohio law, the administrative restructuring that follows can alter the day-to-day experience of receiving medical care.
What Ohio law says about corporate takeovers
Under Ohio law, private entities can own medical practices and employ physicians. They must not interfere with a doctor’s independent clinical judgment. However, management can impose rules that hurt the clinic:
- Rushed appointment times: A company may cut the length of appointment times to accommodate more clients. As a result, your doctor rushes your visit, leaving little time to understand your symptoms or catch warning signs of a serious illness.
- Pressure to make money: Corporate bosses pressure doctors to hit financial targets. This pushes them to recommend unnecessary tests or expensive procedures. Instead of getting the care you need, healthcare professionals see you as a customer.
- Staffing realignments: The private equity firm can replace tenured nurses and medical assistants with lower-paid personnel. This can lead to communication mix-ups and worse service inside the office.
Even though a corporate takeover changes the business side of medicine, doctors still have to follow the same strict medical laws in Ohio. Every licensed healthcare professional owes a duty of care to their patients, no matter who owns the building or handles the bills.
Holding negligent parties accountable
A corporate takeover may be good for the finances, but it can also cause misdiagnoses, medication mistakes, and life-threatening errors. If you or a loved one suffered because a clinic prioritized profits over your health, understand that you have a path towards recovery.
You may file a medical malpractice claim against the healthcare professional who made the mistake. Depending on the circumstances, the corporate entity owning the practice may also be liable. However, navigating this requires legal precision. Seeking legal counsel from an experienced attorney is wise.