Since 1994, there have been more than 1,000 merger and acquisition deals in the hospital market, and this has contributed to higher prices and localized monopolies, according to a panel discussion hosted by the American Enterprise Institute, a conservative think tank based in Washington, D.C.
The event included three panelists: Martin Gaynor, a professor of economics and health policy at Carnegie Mellon University; Robert Murray, president of consulting firm Global Health Payment and former executive director of Maryland's Health Services Cost Review Commission; and Barak Richman, a law professor at Duke University School of Law.
Mr. Murray said the increased hospital M&A market has allowed providers to charge skyrocketing prices, which continues to be exacerbated by less and less competition. "Finally, the evidence is catching up with the reality that we have a humongous monopoly problem in healthcare," he said, according to Kaiser Health News.
The panelists also said "it's very hard to undo" many of the hospital mergers that have already been approved, and they were skeptical that accountable care organizations under the Patient Protection and Affordable Care Act would be a viable alternative.
To watch the entire panel event, click here.
The event included three panelists: Martin Gaynor, a professor of economics and health policy at Carnegie Mellon University; Robert Murray, president of consulting firm Global Health Payment and former executive director of Maryland's Health Services Cost Review Commission; and Barak Richman, a law professor at Duke University School of Law.
Mr. Murray said the increased hospital M&A market has allowed providers to charge skyrocketing prices, which continues to be exacerbated by less and less competition. "Finally, the evidence is catching up with the reality that we have a humongous monopoly problem in healthcare," he said, according to Kaiser Health News.
The panelists also said "it's very hard to undo" many of the hospital mergers that have already been approved, and they were skeptical that accountable care organizations under the Patient Protection and Affordable Care Act would be a viable alternative.
To watch the entire panel event, click here.
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