Systems are striking deals that deliver larger scale, more leverage and more diverse business lines that executives contend are needed to manage increased insurance risk and reduce wasteful fragmentation.
Dealmakers say they hope to improve quality and reduce costs through greater standardization of care, more negotiating leverage with suppliers, and bigger investments to bolster providers' ability to communicate and coordinate care.
But consolidation also carries the risk of reducing competition and raising prices.
“The problem is, coordination and competition are kind of antithetical,” said Mark Pauly, a professor of healthcare management at the University of Pennsylvania.
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Large regional and national healthcare systems are getting bigger and markets are increasingly consolidating, Modern Healthcare's annual survey of hospital systems shows.
Among the nation's biggest for-profit and not-for-profit systems, dealmaking in 2013 created giants with multibillion-dollar annual revenues that rival some Fortune 500 companies. The Nashville-based for-profit system ended 2013 with net patient revenue of billion and the No. Ascension Health, the second-largest system by revenue, acquired regional health systems in Kansas, Oklahoma and Wisconsin, adding nearly billion in revenue and 32 hospitals to the St. Not-for-profit Ascension ended 2013 with patient revenue of .3 billion.The wave of dealmaking has attracted regulators' scrutiny.In January, a federal judge agreed with the Federal Trade Commission's argument that Boise-based St.In order to qualify for the HUBZone program, the business must be located in an area designated as a Historically Underutilized Business (HUB) Zone and at least 35% of its employees must reside in a HUBZone.You may determine if an address or a particular area is designated as a HUBZone by using the HUBZone Map.Cincinnati/Northern Kentucky International Airport is preparing and planning for its new CRCF after Terminal 2 is demolished in December 2015, with work schedule to commence shortly thereafter.