Impact of Private Equity Ownership and Profit Motives in Healthcare During COVID-19

Private equity ownership influenced the nursing home industry during COVID-19, with about one-fifth of COVID deaths occurring in nursing homes. Although not all nursing homes were owned by private equity, the industry followed this ownership model. The impact was significant due to a lack of preparedness. A notable exception was a San Francisco nursing home owned by the city, which effectively managed COVID due to ample resources and experience dealing with health crises like AIDS. This underscores the contrast between private and public ownership in healthcare. The pandemic raised questions about the role of profit in healthcare, especially regarding for-profit hospitals' ability to prioritize shareholder value over patients' well-being.