Small businesses are catalysts for economic growth in communities across New York. They are the heartbeat of New York’s economy, pumping vital energy into the veins of our bustling streets and vibrant communities. Despite their pivotal role in propelling New York’s economy, though, the escalating cost of healthcare for small businesses continues to threaten their viability and hinder them from expanding their workforce, growing enterprises, and reinvesting in their communities. State and federal legislators can alleviate this challenge by supporting policies that eliminate deceptive billing practices in hospitals.
Dishonest billing is a widespread issue where large corporate hospitals buy up local doctors’ offices to charge higher rates for routine services because care provided in a hospital setting costs significantly more than the same service in an office setting. This billing practice inflates hospital bills by more than 14%. Lawmakers must put an end to such billing practices at these hospitals, which boost their profits at the expense of the public.
As an entrepreneur, I have navigated the intricate dance of sustaining a business in a city that is as rewarding as it is demanding. My unique vantage point, shaped by serving as an elected official, pastor of a church, and entrepreneur, has rooted me deeply in the plight of small businesses and small-business owners. What is evident is that small-business employers are already grappling with the immense challenges of inflation and the difficult choice of growth or survival.
Moreover, the additional burden of rising healthcare costs for employees puts many small businesses at risk of extinction. Our communities face an unimaginable situation where the institutions meant to safeguard their health threaten individuals’ access to care. Given the crucial role played by small businesses in stimulating our economy and supporting local consumers, it is imperative to shield us from inflated hospital charges and preventable healthcare costs.
State and federal legislators sit at the helm of this change, with the power to enact policies that can banish deceptive billing practices and promote transparency in healthcare. By doing so, they can shield employers from the veiled traps of exorbitant medical costs and prevent hospitals’ profit margins from swelling on the backs of small-business owners.
Small-business owners strive to provide for themselves, their families, and their employees, yet the escalating cost of healthcare stifles their efforts. It’s a crushing weight, sinking their ability to compete and flourish, and siphoning resources that could be invested in innovation, employment, and community development.
Our call to action, to “throw them a lifeline,” is clear and urgent: Our state and federal legislators must champion more effective policies that dismantle these duplicitous pricing schemes and restore clarity and honesty in healthcare billing. By doing so, they would protect the livelihood of small businesses and ensure that the people who keep New York’s heart beating do not bear unreasonable costs.
We also need healthcare institutions to implement better policies for their patients unilaterally. The unchecked greed of hospital monopolies should not threaten the resilience and determination of our small businesses. The health of our companies and employees, our economy’s lifeline, and every New Yorker’s well-being depends on swift and decisive legislative action. We implore our elected officials to stand with us, support transparent billing, and safeguard the future of small businesses.
The reality is that the solution lies not at the feet of any one stakeholder but at the center of a collective dialogue encompassing small businesses, healthcare providers, policymakers, and the communities we serve. This is not only a fiscal discussion, but a moral imperative to ensure the viability and continuous contribution of small businesses to the tapestry of New York. Together, we can preserve the legacy of our communities and ensure a healthy, thriving economy for generations to come.
Our small businesses are more than just the backbone of New York’s vibrant economy—they are the very heartbeat of our local communities. We serve as engines of economic advancement, and we do so while navigating the stormy seas of healthcare costs, trying to offer our employees the care they deserve without capsizing our operations. The deceptive billing practices of hospital conglomerates are not just a hindrance; they are a looming threat to our survival, profitability, and capacity for growth.
Karim Camara is the former New York State Assemblymember for the 43rd District, a pastor, small-business owner, and Brooklyn resident.