私募股权与医疗机构行为：来自日间手术中心的证据。
Private equity and healthcare firm behavior: Evidence from ambulatory surgery centers.
机构信息
Department of Business Economics and Public Policy, Kelley School of Business, Indiana University, 1309 E Tenth St, Bloomington, IN 47405 USA.
Department of Economics, College of Business, University of Louisville, Louisville, KY 40292 USA.
出版信息
J Health Econ. 2023 Sep;91:102801. doi: 10.1016/j.jhealeco.2023.102801. Epub 2023 Aug 6.
Healthcare firms regularly seek outside capital; yet, we have an incomplete understanding of external investor influence on provider behavior. We investigate the effects of private equity investment, divestment, and an initial public offering (IPO) on ambulatory surgery centers (ASCs). Throughput is unchanged while charges grow by up to 50% for the same service mix. Affected ASCs witness declines in privately insured cases and rely more on Medicare business. Private equity increases physician ASC ownership stakes, and both simultaneously divest when the ASC is sold. Our findings appear more consistent with private equity influencing the financing of ASCs, rather than treatment approaches.
医疗机构经常寻求外部资本；然而，我们对外界投资者对医疗机构行为的影响的理解并不完整。我们研究了私募股权投资、撤资和首次公开募股（IPO）对门诊手术中心（ASC）的影响。在服务组合相同的情况下，吞吐量保持不变，而收费增长高达 50%。受影响的 ASC 见证了私人保险病例的减少，并更多地依赖医疗保险业务。私募股权增加了医生对 ASC 的所有权，并且当 ASC 出售时，两者同时撤资。我们的研究结果似乎更符合私募股权影响 ASC 的融资，而不是治疗方法。
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