The Biden administration will release ownership data for 7,000 hospitals to "expand access to high-quality, affordable health care," in today's bite-sized hospital and health industry news from the District of Columbia, Illinois, and Minnesota.
- District of Columbia: The Biden administration on Tuesday announced plans to publish ownership data for all 7,000 hospitals participating in Medicare—a move that comes as an increase in private equity investments in hospitals have led to a more concentrated market. As of last year, private equity firms owned around 4% of hospitals, The Hill reports. Previously, hospital ownership data was only available after a change in ownership occurred. Every month, hospital ownership data will be released online in an easily searchable format, according to HHS. The data will include detailed information about each hospital owner, including whether an organization or individual owns a hospital, and whether a hospital operates under a direct or indirect ownership model. "We are pulling back the curtain and letting the sunshine in on hospital and nursing home ownership because it is what the public deserves," said HHS Secretary Xavier Becerra. "As we work to expand access to high-quality, affordable health care, we will make sure there is transparency to ensure that facilities are held accountable and people can make the best-informed decisions on their care." (Weixel, The Hill, 12/20)
- Illinois: Northwestern Medicine announced plans to spend almost $389 million to expand Lake Forest Hospital. According to an application submitted to the Illinois Health Facilities & Services Review Board, the health system plans to add 96 inpatient beds, which will include 84 medical and surgical beds and 12 ICU beds. In addition, the health system plans to relocate and expand the hospital's ED and add more imaging equipment and inpatient rehabilitation services. The plan also includes modernizing around 65,000 square feet in the hospital. If the health system's plan is approved, the hospital would house 210 inpatient beds by April 2028. (Davis, Crain's Chicago Business/Modern Healthcare, 12/20)
- Minnesota: 3M on Tuesday announced that it plans to stop making per- and polyfluoroalkyl substance (PFAS) commonly known as "forever chemicals" and will stop using them in its products in the future. According to 3M, which manufactures a range of products, including cleaning supplies, building materials, and medical products, the company "will exit" manufacturing PFAS and "work to discontinue the use of PFAS across its product portfolio by the end of 2025." So far, 3M said it has "already reduced our use of PFAS over the past three years through ongoing research and development," and will continue its efforts. (Pitofsky, USA Today, 12/20)