The FTC says monopoly is costing Texans millions more for anesthesia services.
The Federal Trade Commission says a monopoly has cost Texans tens of millions of dollars more each year for anesthesia services when undergoing medical procedures including here in Houston. The FTC sued a private equity firm and US anesthesia partners today, accusing them of driving up prices. FOX 26 Consumer Reporter Heather Sullivan reports more on the story.
"As you know anesthesiology services are quite critical. You’re in the hospital, you're getting a procedure, you want anesthesia," said Lina Kahn, Chair of the Federal Trade Commission.
The suit says USAP also had illegal price-setting agreements with remaining independent practices and struck a deal to keep a competitor out of USAP territory. "We’d like the court to find liability and ultimately provide relief. That relief would entail restoring competition to all of these Texas markets and ultimately that competition could mean lower prices and better service for Texans," said Kahn.Dr.
This comes after the Journal of the American Medical Association has reported that over the last decade private equity firms have been buying up physician practices across the country in anesthesia, emergency medicine, and dermatology.
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