President Biden: Private equity will never achieve true equity. Stop Medicare profiteering. End DCE/ACO-REACH now!
Direct Contracting, now called ACO REACH, hands a beloved and trusted public program, traditional Medicare, to Wall Street investors in the name of improving health equity. But health inequities cannot be eliminated by profit-seeking corporations, which created the inequities in the first place! President Biden can stop this Wall Street money grab by issuing an executive order ending Direct Contracting Entities (DCEs)/ACO-REACH.
Almost 100 mostly investor-owned DCEs operate in practically every state and have the potential to assign up to 36 million people on Traditional Medicare to a for-profit DCE without their knowledge or consent. The new DCEs, ACO REACH, propose to achieve equity without any evidence—in fact, there is plenty of evidence that when for-profit corporations get involved in health care, such as in dialysis centers and nursing homes, costs go up and patient care suffers. DCE/ACO-REACH are run by private equity firms, venture capital investors and commercial insurers, and can pocket up to 40% of the Medicare dollars as profit or administrative fees, threatening to bankrupt Medicare. Private equity will never achieve health equity. Support the Congressional Progressive Caucus demands urging President Biden to issue an executive order ending the DCE/ACO-REACH program now!
We, the undersigned, urge President Biden to issue an executive order protecting the ability of seniors and people with disabilities to manage their own care in traditional Medicare by quickly ending the DCE / REACH pilot program.