Oz is likely to be questioned Friday on his financial ties to various healthcare companies
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Dr. Mehmet Oz, President Donald Trump's pick to lead the Centers for Medicare and Medicaid, will face questions in front of the Senate Committee on Finance Friday morning.
Following the hearing, the committee will schedule a vote to send Oz's nomination to the full Senate, where approval is likely considering the Republican majority.
If confirmed, Oz would be in charge of nearly $1.5 trillion in federal healthcare spending. Medicare, a federal healthcare program for seniors aged 65 and up, currently provides coverage for about 65 million Americans, according to the Center for Medicare Advocacy. Medicaid, which assists people with low incomes, covers roughly 72 million Americans, according to Medicaid.gov.
3 THINGS DR. OZ CAN DO AS CMS ADMINISTRATOR TO HELP FIX AMERICAN HEALTH CARE
Former GOP U.S. Senate candidate Dr. Mehmet Oz hosts a safer streets community discussion at Galdos Catering and Entertainment on Oct. 13, 2022 in Philadelphia, Pennsylvania. (Mark Makela/Getty Images)
A former heart surgeon who saw his fame rise through his appearances on daytime TV and 13 seasons of "The Dr Oz Show," Oz later transitioned into politics, launching an unsuccessful bid for Pennsylvania’s open Senate seat in 2022. He ultimately lost to John Fetterman, then the state's lieutenant governor. Oz graduated from Harvard, and received medical and business degrees from the University of Pennsylvania.
Oz is expected to be grilled by Democrats during the hearing over his financial ties to a myriad of healthcare-related companies, several of which pose potential conflicts of interest for the potential CMS director.
Oz has committed to divesting many of his financial interests that pose the most obvious risk of impropriety, such as his hundreds of thousands of dollars in stock in United Health Group, a major private health insurer. He also said, if confirmed, he would forfeit the nearly $25 million in stock earnings he obtained as an advisor for a company selling health and beauty supplements.
President Donald Trump stands behind Mehmet Oz, then-Republican Senate candidate for Pennsylvania, during a rally in Wilkes-Barre, Pennsylvania, US, on Saturday, Sept. 3, 2022. (Photographer: Michelle Gustafson/Bloomberg via Getty Images)
As the administrator of CMS, Oz would make decisions related to how the government covers procedures, hospital stays and medication within the federal healthcare programs, as well as the reimbursement rates at which healthcare providers get paid for their services.
On Thursday, Trump's pick to lead the NIH and FDA, Dr. Jay Bhattacharya and Dr. Marty Makary, respectively, were approved in committee and will now face impending votes by the full Senate.
