Hailed as “America’s doctor” by sensational TV personality Oprah Winfrey, Dr. Mehmet Oz has recently been nominated by President Trump to oversee Medicare and Medicaid. In his past, Dr. Oz has been, according to The New York Times, a “relentless promotor of controversial private insurance plans for older Americans,” especially a program called Medicare Advantage, which he himself uses. It was later revealed that he was a licensed broker for TZ Insurance, a for-profit company operating the call center for Medicare Advantage.
Beyond his renowned TV career, Dr. Oz has built a vast financial empire, with business and family ventures valued between $90 million and $350 million, as stated by the Times. He has earned a primary source of income from the endorsement of dietary supplements, particularly those of iHerb, a company he sponsors on his program. However, his research on medical devices and health-related ventures are also highlighted for criticism. If Oz confirmed for the government role, some of the country’s healthcare policies would be directly affected by his policies. His controversial financial entanglements have raised concerns among lawmakers and ethics experts.
In an effort to address these concerns, Oz has pledged to divest from over 70 companies and investment funds to secure public opinion for his nomination. He has further invested hundreds of thousands to millions of dollars in major health corporations, such as UnitedHealth Group and HCA Healthcare. However, critics remain against his involvement in private companies, like Oz Works and Oz Property Holdings, as well as his relationship with iHerb, where he remains a major investor.
Another major blow to his credibility came during the COVID-19 pandemic, when Oz proposed questionable treatment methods. He even criticized the nation’s “overreliance on drugs and surgery as treatments for chronic illness over diet and fitness,” according to the Times. Oz’s promotion of hydroxychloroquine and chloroquine as potential treatments for COVID was widespread, as it appeared on Fox News more than two dozen times. However, scientific studies that showed more patients died or had symptoms that were exacerbated when treated with the hydroxychloroquine backtracked him. Over the years, his peers have also publicly denounced him for his medical claims. In a condemning Senate candidacy paper written by 150 physicians in the medical field, he was accused of “[putting] himself above all else, even in instances where people’s health is endangered,” Medium reported.
If confirmed, Oz would oversee Medicare and Medicaid, possibly providing health coverage to nearly half of all Americans. Additionally, he would wield unspeakable power and economic status, with an annual budget of about $1.5 trillion. His history of financial ties to the healthcare industry, coupled with his past endorsements of private insurance companies and unproven medical treatments, has led to growing skepticism about his ability to deal with the country’s healthcare system. The Senate Finance Committee is expected to hold hearings on his nomination soon, expected to be around mid-to-late February.
