By Dave Van Zandt
President-elect Donald Trump’s nomination of Dr. Mehmet Oz to lead the Centers for Medicare and Medicaid Services (CMS) has sparked scrutiny due to Dr. Oz’s substantial financial interests in companies regulated by the agency. If confirmed, Dr. Oz would oversee programs like Medicare and Medicaid, which collectively cover over 160 million Americans and manage more than $1 trillion in annual spending.
Financial disclosures from his 2022 Senate campaign reveal that Dr. Oz and his family hold significant investments in healthcare-related companies. These include up to $600,000 in UnitedHealth Group, a major player in the Medicare Advantage market, and nearly $2.4 million in Amazon, which operates an online pharmacy serving Medicare enrollees.
Additionally, from 2009 to 2019, Novo Nordisk, the manufacturer of the diabetes medications Ozempic and Wegovy, was a marketing client of companies founded by Dr. Oz. Under recent policy changes, these drugs could be subject to CMS negotiations.
Critics argue that these financial ties could present conflicts of interest, potentially influencing Dr. Oz’s regulatory decisions at CMS. Walter Shaub Jr., former director of the Office of Government Ethics, expressed concern, stating, “Having ongoing financial ties to a healthcare company would create a disincentive to do the job the American people need done by the person in his position.”
Supporters, however, claim that Dr. Oz’s medical background and public health advocacy are qualifications for the role. A White House transition spokesperson, Nick Clemens, noted that Dr. Oz “will work to expand access, improve care, and get Americans the best results in the world for every dollar spent on healthcare.”
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