Private Equity Acquisition And Responsiveness To Service-Line Profitability At Short-Term Acute Care Hospitals.

Autor: Cerullo M; Marcelo Cerullo (marcelo.cerullo@duke.edu) is a resident in the General Surgery Residency Program, Duke University Hospital, in Durham, North Carolina., Yang KK; Kelly Kaili Yang is a graduate student in the Department of Economics, Duke University, in Durham, North Carolina., Roberts J; James Roberts is a professor in and chair of the Department of Economics, Duke University, and a research associate with the National Bureau of Economic Research., McDevitt RC; Ryan C. McDevitt is a professor in the Fuqua School of Business, Duke University., Offodile AC 2nd; Anaeze C. Offodile II is an assistant professor in the Department of Plastic and Reconstructive Surgery, University of Texas MD Anderson Cancer Center, in Austin, Texas, and a nonresident fellow in Domestic Health Policy at the Baker Institute for Public Policy, Rice University, in Houston, Texas. He is the current Gilbert Omenn Fellow of the National Academy of Medicine.
Jazyk: angličtina
Zdroj: Health affairs (Project Hope) [Health Aff (Millwood)] 2021 Nov; Vol. 40 (11), pp. 1697-1705.
DOI: 10.1377/hlthaff.2021.00541
Abstrakt: As private equity firms continue to increase their ownership stake in various health care sectors in the US, questions arise about potential impacts on the organization and delivery of care. Using a difference-in-differences approach, we investigated changes in service-line provision in private equity-acquired hospitals. Relative to nonacquired hospitals, private equity acquisition was associated with a higher probability of adding specific profitable hospital-based services (interventional cardiac catheterization, hemodialysis, and labor and delivery), profitable technologies (robotic surgery and digital mammography), and freestanding or satellite emergency departments. Moreover, private equity acquisition was associated with an increased probability of providing services that were previously categorized as unprofitable but that have more recently become areas of financial opportunity (for example, mental health services). Finally, private equity-acquired hospitals were less likely to add or continue services that have unreliable revenue streams or that may face competition from nonprofit hospitals (for example, outpatient psychiatry), although fewer shifts were noted among unprofitable services. This may reflect a prevailing shift by acute care hospitals toward outpatient settings for appropriate procedures and synergies with existing holdings by private equity firms.
Databáze: MEDLINE