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Hospital Acquisitions Before Healthcare Reform

Authors
 Michael J McCue  ;  Jon M Thompson  ;  Tae Hyun Kim 
Citation
 Journal of Health Care Management, Vol.60(3) : 186-203, 2015 
Journal Title
 Journal of Health Care Management 
ISSN
 1096-9012 
Issue Date
2015
Abstract
The hospital industry has experienced increased consolidation in the past 20 years. Since 2010, in particular, there has been a large rise in the number of hospital acquisitions, and observers have suggested this is due in part to the expected impact of federal healthcare reform legislation. This article reports on a study undertaken to identify the market, management, and financial factors affecting acute care, community hospitals acquired between 2010 and 2012. We identified 77 such hospitals and compared them to other acute care facilities. To assess how different factors were associated with acquisitions, the study used multiple logistic regressions whereby market factors were included first, followed by management and financial factors. Study findings show that acquired hospitals were located in markets with lower rates of preferred provider organization (PPO) penetration compared with nonacquired hospitals. Occupancy rate was found to be inversely related to acquisition rate; however, case-mix index was significantly and positively related to a hospital's being acquired. Financial factors negatively associated with a hospital's being acquired included age of plant and cash flow margin. In contrast to the findings from earlier studies of hospital acquisitions, our results showed that acquired hospitals possessed newer assets. However, similar to the findings of other studies, the cash flow margin of acquired hospitals was lower than that of nonacquired facilities.
URI
https://ir.ymlib.yonsei.ac.kr/handle/22282913/141125
Appears in Collections:
1. Journal Papers (연구논문) > 4. Graduate School of Public Health (보건대학원) > Graduate School of Public Health (보건대학원)
Yonsei Authors
김태현(Kim, Tae Hyun)
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