The corporatization of medicine threatens both clinicians and patients, but state and federal authorities have not done enough to crack down on the problem, said physicians and academicians during Capitol Forum's Health Care Competition Conference at the National Press Club on Thursday. Rates of physician burnout are at 63%, a record high, according to an American Medical Association survey, said Mitchell Li, MD, an emergency physician and founder of Take Medicine Back.

Li doesn't blame the pandemic. Rather, he blames "the consolidation and opportunism" of private equity firms, which have taken advantage of the situation COVID created -- struggling smaller hospitals and practices became even more vulnerable while the flow of government dollars, such as CARES ACT funding, increased, he noted.

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