WORK IN PROGRESS: NOT FOR CITATION How Vertical Integration Affects Health Outcomes and Total Costs for Medicare Recipients
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چکیده
Recent years have seen a sharp increase in the number of healthcare providers employed by health systems. The implications of this trend are poorly understood and controversial. To shed light on the phenomenon, we exploit rich data from the Centers for Medicare and Medicaid Services in conjunction with a set of mergers that financially integrated one or more hospitals with formerly independent physician practices. We specifically examine whether these transactions are associated with changes in the location of service provision, overall costs, and health outcomes. Our results suggest that these mergers have had heterogeneous effects. Some mergers led to statistically significant reductions in hospital utilization and costs, while others produced the opposite. An analysis of the determinants of mergers’ effects suggests that transaction-level details matter a great deal. JEL Codes:
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تاریخ انتشار 2014