Word: for-profit
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...other part is his manner. Before Congress, at subsequent pro-reform rallies around the country, and in the many television interviews Potter grants, he plays the role of the soft-spoken dad, calmly laying out his indictment of the for-profit insurance industry with a slight Tennessee twang, his gray hair buzzed and a pair of wire-rimmed glasses perched on his nose. He isn't prone to hyperbole and, despite his having become a whistle-blower to "make amends" for the wrong he feels he did as a health-insurance executive, Potter is eerily calm, an island of serenity...
...about how "the cosmos has shifted" this time around, that the health-insurance industry was at the negotiating table and on board with reform. Potter thought to himself, "Oh, jeez, Chris. Give me a break." Potter, who retired from Cigna in May 2008 after he became disillusioned with the for-profit health-insurance industry, decided to end his silence. (Potter's conversion was prompted in part by the 2007 case of 17-year-old Natalie Sarkisyan, who died shortly after Cigna initially denied her coverage for a liver transplant. Then presidential candidate John Edwards used the case as an example...
...NYSE in the 1980s and '90s, brought more direct competition. Now things have broken wide open. Nasdaq and the NYSE are still the biggest players, but they must do daily battle with upstarts such as BATS and Direct Edge. Both exchanges have also gone from member cooperatives to for-profit companies - the NYSE by merging with electronic competitor Archipelago...
...Other revenue-raising proposals include prohibiting the use of Flexible Spending Account money - tax-free funds withheld by individuals to pay for certain medical expenses - for over-the-counter drugs; imposing taxes on alcohol, sodas and other unhealthy beverages; rescinding the nonprofit status of hospitals that act like for-profit companies and no longer offer charity care; and deriving $100 billion from a windfall tax on insurers based on their U.S. market share. But many of these ideas are controversial and face significant opposition from members and Senators representing areas where local companies or hospitals might be adversely impacted...
Specialty hospitals that focus on providing care for children or cancer patients have long existed, but the target of the House legislation is something else entirely - for-profit health-care facilities owned by doctors that perform some of the most lucrative medical procedures in fields like orthopedics and cardiology. There are now some 220 such facilities operating mostly in the South and Midwest - up from 110 in 2001 - generating some $40 billion in annual revenue. According to Sandvig, more than 80 additional facilities are currently under development. (Read "Starting Health-Care Reform...