Murray: Health Care Reform Will Create More Jobs Than It Destroys
Lt. Gov. Timothy Murray told a group of business brokers Wednesday night that health care reform is one of the biggest ways the state can provide relief to businesses.
"We need urgency around health care cost containment control," Murray told members of the New England Business Broker Association in Worcester. "If we don't, it's the ultimate job killer."
Rising costs disproportionately impact smaller businesses, he added, because they don't have the purchasing power a larger company, municipality or the state has.
Hospitals are major employers across the state and will see turbulent years ahead as they transition from the fee-for-service model.
Just hours before Murray's appearance, UMass Memorial Health Care announced it would lay off 150 people and sell two business units employing about 700 more.
Asked about health care reform's impact on health care employment, Murray acknowledged there will be some pain ahead for hospitals as they try to transition. But he said the trade-off is more certainty for small businesses about what their health care costs will be, which will spur more hiring.
"It's a balance we need to reach," he said. "And it's not going to be without some pain and discomfort"
Brokers: Business Conditions Improving
NEBBA is made up of business brokers, attorneys, bankers, appraisers and consultants from around New England. The group meets regularly in Worcester, which is a central location, and also has several Central Massachusetts firms among its membership. It held its annual meeting at Maxwell Silverman's in Worcester Wednesday evening.
President Gary Rayberg, a broker with ROI Corp. in Weymouth, said after Murray's speech that 2011 saw improvement for many of his colleagues as businesses recovered.
There are always buyers and sellers, no matter the economic conditions, but Rayberg said the buying and selling environment is more favorable after a good year.
"If profits aren't great, seller won't list," he said. "That's really swinging the other way now."
Sarah Grossman of BayState Business Brokers in Boston said certain types of businesses sold better than others during 2009 and 2010, which were down years for many brokers.
Among them were "recession-proof" businesses like liquor stores, HVAC companies and health-care related businesses.
Grossman said she's optimistic about the year ahead because of improving economic conditions and because some business owners may want to sell before the presidential election, after which Congress may increase capital gains taxes.
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