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Consolidations and closures: an empirical analysis of exits from the hospital industry

✍ Scribed by Teresa D. Harrison

Publisher
John Wiley and Sons
Year
2007
Tongue
English
Weight
192 KB
Volume
16
Category
Article
ISSN
1057-9230

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✦ Synopsis

Abstract

This paper investigates the pre‐exit characteristics of hospital mergers, acquisitions, and closures. We estimate competing risk hazard models using an 18‐year national data set that spans the wave of closures in the 1980s and of mergers in the 1990s. Evidence shows that weak productivity of the hospital is a strong determinant for closures while competitive pressures are more influential in the decision to consolidate. Thus, increased market power, relative to cost reductions, appears to play a larger role in the merger decision. Our results also provide insight into possible correlations between mergers and closures. Copyright Β© 2006 John Wiley & Sons, Ltd.

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