WASHINGTON, May 1 -- The House Ways & Means Committee Chairman issued the following news release:
WASHINGTON, D.C.- CEOs representing some of the nation's largest health systems, including the largest for-profit and tax-exempt hospital systems in the country, appeared at a Ways and Means Committee hearing during which they were unable to justify their corporate manipulation of legal loopholes and taxpayer subsidies that puts profits over patient access to care and contributes to the 300 percent rise in hospital prices in just over two decades. Sophisticated hospital chains are increasingly engaging in practices such as urban hospitals reclassifying themselves as "rural" to receive lucrative federal subsidies, charging higher prices for the...