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PUBLIC TESTIMONY
Testimony by Misha Sharp, Assistant Director of Policy at 32BJ Health Fund
4:40:33
ยท
117 sec
Misha Sharp from 32BJ Health Fund testifies about rising hospital prices in New York City, particularly at large academic medical centers, and their impact on health benefit costs and workers' wages. She urges the city council to address this issue and advocates for more transparency in hospital pricing.
- The 32BJ Health Fund provides benefits to over 200,000 union members and their families.
- Hospital prices at five large academic medical centers cost more than the entire pension benefit in one year.
- The Office of Healthcare Accountability's report confirms that hospital prices are driving high healthcare cost increases in NYC.
Misha Sharp
4:40:33
Great.
4:40:34
Thank you chair Schulman and committee members for the opportunity to testify.
4:40:38
My name is Misha Sharp, and I'm the Assistant Director of Policy for 32BJ Health Fund.
4:40:42
We provide health benefits to over 200,000 32BJ SEIU union members and their families using contributions from over 5,000 employers.
4:40:53
For many years, we have talked about the rising prices at New York City hospitals, which drive up the cost of health benefits and squeeze workers' wages.
4:41:01
In one year, we pay more for care at five large academic medical centers than the entirety of our pension benefit.
4:41:08
Over the last two years we have worked with members of this committee to establish a fully resourced office of healthcare accountability.
4:41:16
On Friday we received the office's first report on healthcare cost drivers and hospital prices.
4:41:22
The report shows the same pattern we have seen elsewhere, that hospital prices are driving untenably high health care cost increases, and that in New York City, this is driven by several large academic medical centers with outsized market power.
4:41:37
For example, from 2022 to 2024, the city's employee health plan spending increased 11% at NYU Langone and 20 at New York Presbyterian, where an average inpatient admission cost over $92,000 We can see where the problem lies and we need to act with urgency to solve it.
4:41:59
We urge the city council to call the largest hospitals to the table to answer for these prices and their impact on working people.
4:42:07
The city council should also advocate for the publication of Medicare benchmarks for hospital prices paid by the city employee health plan.
4:42:15
It is deeply concerning that the city, who pays billions a year on employee health benefits with taxpayer dollars doesn't have or can't share how their prices compare to what Medicare pays as required under local law 78.
4:42:29
Thank you for your time.