Warren, Hoyle, Wyden, Merkley, Ocasio-Cortez, Subramanyam Introduce Bill to Ban the Corporate Practice of Medicine

Warren, Hoyle, Wyden, Merkley, Ocasio-Cortez, Subramanyam Introduce Bill to Ban the Corporate Practice of Medicine September 16, 2026 The Stop Corporate Takeovers of Physicians Act would ban corporations and private equity from owning physicians. The bill is modeled on the landmark Oregon law that physicians have already used to successfully challenge corporate takeovers. Text of Bill (PDF) | One-Pager (PDF) Washington, D.C. – Today, Senators Elizabeth Warren (D-Mass.), Ron Wyden (D-Ore.), and Jeff Merkley (D-Ore.), along with Representatives Val Hoyle (D-Ore.), Alexandria Ocasio-Cortez (D-N.Y.), and Suhas Subramanyam (D-Va.), introduced the Stop Corporate Takeovers of Physicians Act to ban the corporate practice of medicine. Over 80 percent of doctors in the United States are employed by corporate entities—including private equity firms and insurers—up from 62 percent in 2019 . Despite prohibitions on the corporate practice of medicine in over thirty states, private equity firms, insurers, and other corporate entities have expl o ited legal loopholes that allow them to circumvent these restrictions to the detriment of clinicians and patients. Management services organizations (MSOs) have become vehicles for exercising corporate control over physicians. MSOs contract with physician practices to handle ostensibly purely administrative tasks, but these actors often challenge the autonomy of acquired physicians once in control. For example, corporate entities often assume control over clinical operations, management and staffing decisions, and billing and coding practices—all of which can exert pressure on physicians to change care delivery. The Stop Corporate Takeovers of Physicians Act ensures health care decisions are made by physicians—not private equity firms, insurance companies, or other corporate actors. The legislation: Bans the corporate practice of medicine by making it illegal for private equity funds, insurance companies, and other for-profit corporations to own or control medical practices; Closes the “friendly physician” loophole that has allowed investor-backed corporations to evade state-level bans on the corporate practice of medicine and control medical practices through MSOs; Prohibits an MSO from controlling a medical practice through a “friendly” or “captive” physician, or by taking over business, administrative, and clinical functions such as hiring and firing, work schedules, compensation, disbursement of revenue or setting of revenue targets, billing practices, contracting, and other services; Ensures that physicians retain ultimate control of medical practices by requiring that physician owners are meaningfully engaged in providing medical care in the state in which their practice is located; and Protects physician independence by prohibiting corporate interference with clinical decisions and banning restrictive contract terms, such as non-compete agreements, nondisclosure agreements, and non-disparagement agreements. “Patients want to know that decisions about their health are being made by their doctors, not by Wall Street investors,” said Senator Warren . “If we’re going to lower costs and un-rig the health care system, we need to stop the corporate takeover of medicine.” “Billionaire corporations are using sick patients to turn healthy profits, and Americans are fed up,” said Senator Merkley . “In Oregon, we passed one of the most comprehensive corporate practice of medicine laws in the country, standing up for patients and health care providers. It’s time we take on corporate greed in health care at the federal level by passing our Stop Corporate Takeovers of Physicians Act, cracking down on these takeovers that are destroying our health care system.” “Americans want medical decisions to stay between patients and their doctor, not dictated by corporate actors and private equity firms focused on maximizing profits,” said Senator Wyden . “I’m proud of Oregon’s pioneering state law that has been used by doctors to protect their independence, and it’s time to take that model to the federal level. Corporate medicine is making health care more expensive for everyone, and safeguards must be put in place to ensure health care decisions stay in the hands of physicians.” “80% of doctors in the U.S. are employed by corporate entities, up from 62% in 2019,” said Representative Hoyle . “Healthcare should not be a line item in a spreadsheet. The Stop Corporate Takeovers of Physicians Act will ensure proper protections are in place, so our healthcare systems serve the best interests of our patients, not corporations.” “Americans want medical decisions to stay between patients and their doctors, not dictated solely by the pursuit of maximizing profits. States have passed laws to protect the independence of physicians, and it’s time to take that model to the federal level. Corporate medicine is making health care more expensive for everyone, and safeguards must be put in place to ensure health ca