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Does Private Equity Investment In Healthcare Benefit Patients Evidence From Nursing Homes
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Book Synopsis Does Private Equity Investment in Healthcare Benefit Patients? Evidence from Nursing Homes by : Atul Gupta
Download or read book Does Private Equity Investment in Healthcare Benefit Patients? Evidence from Nursing Homes written by Atul Gupta and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The past two decades have seen a rapid increase in Private Equity (PE) investment in healthcare, a sector in which intensive government subsidy and market frictions could lead high-powered for-profit incentives to be misaligned with the social goal of affordable, quality care. This paper studies the effects of PE ownership on patient welfare at nursing homes. With administrative patient-level data, we use a within-facility differences-in-differences design to address non-random targeting of facilities. We use an instrumental variables strategy to control for the selection of patients into nursing homes. Our estimates show that PE ownership increases the short-term mortality of Medicare patients by 10%, implying 20,150 lives lost due to PE ownership over our twelve-year sample period. This is accompanied by declines in other measures of patient well-being, such as lower mobility, while taxpayer spending per patient episode increases by 11%. We observe operational changes that help to explain these effects, including declines in nursing staff and compliance with standards. Finally, we document a systematic shift in operating costs post-acquisition toward non-patient care items such as monitoring fees, interest, and lease payments.
Book Synopsis Owner Incentives and Performance in Healthcare by : Atul Gupta
Download or read book Owner Incentives and Performance in Healthcare written by Atul Gupta and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Amid an aging population and a growing role for private equity (PE) in elder care, this paper studies how PE ownership affects U.S. nursing homes using patient-level Medicare data. We show that PE ownership leads to lower-risk patients and increases mortality. After instrumenting for the patient-nursing home match, we recover a local average treatment effect on mortality of 11%. Declines in measures of patient well-being, nurse staffing, and compliance with care standards help to explain the mortality effect. Overall, we conclude that PE has nuanced effects, with adverse outcomes for a subset of patients.
Book Synopsis For-Profit Enterprise in Health Care by : Institute of Medicine
Download or read book For-Profit Enterprise in Health Care written by Institute of Medicine and published by National Academies Press. This book was released on 1986-01-01 with total page 580 pages. Available in PDF, EPUB and Kindle. Book excerpt: "[This book is] the most authoritative assessment of the advantages and disadvantages of recent trends toward the commercialization of health care," says Robert Pear of The New York Times. This major study by the Institute of Medicine examines virtually all aspects of for-profit health care in the United States, including the quality and availability of health care, the cost of medical care, access to financial capital, implications for education and research, and the fiduciary role of the physician. In addition to the report, the book contains 15 papers by experts in the field of for-profit health care covering a broad range of topicsâ€"from trends in the growth of major investor-owned hospital companies to the ethical issues in for-profit health care. "The report makes a lasting contribution to the health policy literature." â€"Journal of Health Politics, Policy and Law.
Book Synopsis Advanced Introduction to Private Equity by : Gompers, Paul A.
Download or read book Advanced Introduction to Private Equity written by Gompers, Paul A. and published by Edward Elgar Publishing. This book was released on 2022-08-12 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Advanced Introduction provides an illustrative guide to private equity, integrating insights from academic research with examples to derive practical recommendations. Paul Gompers and Steven Kaplan begin by reviewing the history of private equity then exploring the evidence on performance of private equity investments at both the portfolio company level and fund level, documenting the creation of economic value. The book then presents a set of actionable frameworks for driving value creation in private equity investments. It concludes by examining how private equity investors raise funds and how they successfully manage their private equity firms.
Book Synopsis Private Equity at Work by : Eileen Appelbaum
Download or read book Private Equity at Work written by Eileen Appelbaum and published by Russell Sage Foundation. This book was released on 2014-03-31 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private equity firms have long been at the center of public debates on the impact of the financial sector on Main Street companies. Are these firms financial innovators that save failing businesses or financial predators that bankrupt otherwise healthy companies and destroy jobs? The first comprehensive examination of this topic, Private Equity at Work provides a detailed yet accessible guide to this controversial business model. Economist Eileen Appelbaum and Professor Rosemary Batt carefully evaluate the evidence—including original case studies and interviews, legal documents, bankruptcy proceedings, media coverage, and existing academic scholarship—to demonstrate the effects of private equity on American businesses and workers. They document that while private equity firms have had positive effects on the operations and growth of small and mid-sized companies and in turning around failing companies, the interventions of private equity more often than not lead to significant negative consequences for many businesses and workers. Prior research on private equity has focused almost exclusively on the financial performance of private equity funds and the returns to their investors. Private Equity at Work provides a new roadmap to the largely hidden internal operations of these firms, showing how their business strategies disproportionately benefit the partners in private equity firms at the expense of other stakeholders and taxpayers. In the 1980s, leveraged buyouts by private equity firms saw high returns and were widely considered the solution to corporate wastefulness and mismanagement. And since 2000, nearly 11,500 companies—representing almost 8 million employees—have been purchased by private equity firms. As their role in the economy has increased, they have come under fire from labor unions and community advocates who argue that the proliferation of leveraged buyouts destroys jobs, causes wages to stagnate, saddles otherwise healthy companies with debt, and leads to subsidies from taxpayers. Appelbaum and Batt show that private equity firms’ financial strategies are designed to extract maximum value from the companies they buy and sell, often to the detriment of those companies and their employees and suppliers. Their risky decisions include buying companies and extracting dividends by loading them with high levels of debt and selling assets. These actions often lead to financial distress and a disproportionate focus on cost-cutting, outsourcing, and wage and benefit losses for workers, especially if they are unionized. Because the law views private equity firms as investors rather than employers, private equity owners are not held accountable for their actions in ways that public corporations are. And their actions are not transparent because private equity owned companies are not regulated by the Securities and Exchange Commission. Thus, any debts or costs of bankruptcy incurred fall on businesses owned by private equity and their workers, not the private equity firms that govern them. For employees this often means loss of jobs, health and pension benefits, and retirement income. Appelbaum and Batt conclude with a set of policy recommendations intended to curb the negative effects of private equity while preserving its constructive role in the economy. These include policies to improve transparency and accountability, as well as changes that would reduce the excessive use of financial engineering strategies by firms. A groundbreaking analysis of a hotly contested business model, Private Equity at Work provides an unprecedented analysis of the little-understood inner workings of private equity and of the effects of leveraged buyouts on American companies and workers. This important new work will be a valuable resource for scholars, policymakers, and the informed public alike.
Book Synopsis Have Private Equity Owned Nursing Homes Fared Worse Under COVID-19? by : Ashvin Gandhi
Download or read book Have Private Equity Owned Nursing Homes Fared Worse Under COVID-19? written by Ashvin Gandhi and published by . This book was released on 2020 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over 40% of U.S. COVID-19 deaths occurred in nursing homes. Given increasing private equity (PE) ownership in healthcare and long-standing concerns that PE investors focus on profits to the detriment of patients, it is important to understand the impact of PE ownership during the COVID-19 pandemic. This study evaluates how PE acquisitions impacted the readiness and outcomes of nursing facilities during the onset of the COVID-19 pandemic. We relate PE ownership to COVID-19 cases, deaths, and personal protective equipment (PPE) shortages, controlling for facility characteristics, resident composition, local characteristics, and the severity of COVID-19 outbreak near the facility. PE ownership was associated with a mean decrease in the probability of confirmed resident cases by 7.1 percentage points ("pp") (p
Download or read book Plunder written by Brendan Ballou and published by PublicAffairs. This book was released on 2023-05-02 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authoritative exposé of private equity: what it is, how it kills businesses and jobs, how the government helps, and how we stop it Private equity surrounds us. Firms like Blackstone, Carlyle, and KKR are among the largest employers in America and hold assets that rival those of small countries. Yet few understand what these firms are or how they work. In Plunder, Brendan Ballou explains how private equity has reshaped American business by raising prices, reducing quality, cutting jobs, and shifting resources from productive to unproductive parts of the economy. Ballou vividly illustrates how many private equity firms buy up retailers, medical practices, prison services, nursing-home chains, and mobile-home parks, among other businesses, using little of their own money to do it and avoiding debt and liability for their actions. Forced to take on huge debts and pay extractive fees, companies purchased by private equity firms are often left bankrupt, or shells of their former selves, with consequences to communities that long depended on them. Perhaps most startling is Ballou’s insight into how this is happening with the active support of various arms of the government. But, as Ballou reveals in an agenda for reining in the industry, private equity can be stopped from wreaking further havoc.
Book Synopsis Care Homes in a Turbulent Era by : Pat Armstrong
Download or read book Care Homes in a Turbulent Era written by Pat Armstrong and published by Edward Elgar Publishing. This book was released on 2023-08-14 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an open access title available under the terms of a CC BY-NC-ND 4.0 License. It is free to read, download and share on Elgaronline.com. This thoughtful book provides a refreshing, comparative perspective on the future of care homes in our post-pandemic world. Building on more than a decade of collaborative international and interdisciplinary research in Canada, Germany, Norway, Sweden, the UK and the US, it employs a feminist political economy framework to address the key challenges facing care homes in this turbulent era.
Author :National Academies of Sciences Engineering and Medicine Publisher : ISBN 13 :9780309685061 Total Pages : pages Book Rating :4.6/5 (85 download)
Book Synopsis The Future of Nursing 2020-2030 by : National Academies of Sciences Engineering and Medicine
Download or read book The Future of Nursing 2020-2030 written by National Academies of Sciences Engineering and Medicine and published by . This book was released on 2021-09-30 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The decade ahead will test the nation's nearly 4 million nurses in new and complex ways. Nurses live and work at the intersection of health, education, and communities. Nurses work in a wide array of settings and practice at a range of professional levels. They are often the first and most frequent line of contact with people of all backgrounds and experiences seeking care and they represent the largest of the health care professions. A nation cannot fully thrive until everyone - no matter who they are, where they live, or how much money they make - can live their healthiest possible life, and helping people live their healthiest life is and has always been the essential role of nurses. Nurses have a critical role to play in achieving the goal of health equity, but they need robust education, supportive work environments, and autonomy. Accordingly, at the request of the Robert Wood Johnson Foundation, on behalf of the National Academy of Medicine, an ad hoc committee under the auspices of the National Academies of Sciences, Engineering, and Medicine conducted a study aimed at envisioning and charting a path forward for the nursing profession to help reduce inequities in people's ability to achieve their full health potential. The ultimate goal is the achievement of health equity in the United States built on strengthened nursing capacity and expertise. By leveraging these attributes, nursing will help to create and contribute comprehensively to equitable public health and health care systems that are designed to work for everyone. The Future of Nursing 2020-2030: Charting a Path to Achieve Health Equity explores how nurses can work to reduce health disparities and promote equity, while keeping costs at bay, utilizing technology, and maintaining patient and family-focused care into 2030. This work builds on the foundation set out by The Future of Nursing: Leading Change, Advancing Health (2011) report.
Book Synopsis Handbook of the Economics of Corporate Finance by :
Download or read book Handbook of the Economics of Corporate Finance written by and published by Elsevier. This book was released on 2023-08-15 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private Equity and Entrepreneurial Finance, volume 1 of the new series, Handbook of the Economics of Corporate Finance, provides comprehensive and accessible updates of central theoretical and empirical issues in corporate finance. The demand for these updates reflects the rapid evolution of corporate finance research, which has become a dominant field in financial economics. The surveys are written by leading empirical researchers that remain active in their respective areas of interest. The dense roadmaps are intended to make the economics of corporate finance and governance accessible not only to doctoral students but also researchers not intimately familiar with this important field. Provides the authority and expertise of leading contributors from an international board of authors Presents the latest release in the Handbook of the Economics of Corporate Finance series Updated release includes the latest information on Private Equity and Entrepreneurial Finance
Book Synopsis The Public/Private Sector Mix in Healthcare Delivery by : Howard Palley
Download or read book The Public/Private Sector Mix in Healthcare Delivery written by Howard Palley and published by Oxford University Press. This book was released on 2022-12-06 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This volume examines the public/private sector mix in a number of national healthcare systems and their interface with the goals of health equity and quality of healthcare. Moreover, there is a consideration of public accountability. The unique significance of this collection of national studies involving the public/private sector mix of healthcare services and/or finances is that it provides insights into the factors that enhance the public/private sector mix in fulfilling the goals of health equity and the quality of healthcare services as well as an understanding of the circumstances in which elements of the public/private sector mix may be harmful for the achievement of such goals in a variety of national settings. The contributions to this volume provide a variety of perspectives in dealing with these objectives"--
Book Synopsis Our Lives in Their Portfolios by : Brett Christophers
Download or read book Our Lives in Their Portfolios written by Brett Christophers and published by Verso Books. This book was released on 2024-08-13 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: All hail the new masters of Capitalism: How asset managers acquired the world Banks have taken a backseat since the global financial crisis over a decade ago. Today, our new financial masters are asset managers, like Blackstone and BlackRock. And they don’t just own financial assets. The roads we drive on; the pipes that supply our drinking water; the farmland that provides our food; energy systems for electricity and heat; hospitals, schools, and even the homes in which many of us live—all now swell asset managers’ bulging investment portfolios. As the owners of more and more of the basic building blocks of everyday life, asset managers shape the lives of each and every one of us in profound and disturbing ways. In this eye-opening follow-up to Rentier Capitalism, Brett Christophers peels back the veil on “asset manager society.” Asset managers, he shows, are unlike traditional owners of housing and other essential infrastructure. Buying and selling these life-supporting assets at a dizzying pace, the crux of their business model is not long-term investment and careful custodianship but making quick profits for themselves and the investors that back them. In asset manager society, the natural and built environments that sustain us become one more vehicle for siphoning money from the many to the few.
Book Synopsis The Measure of Our Age by : M.T. Connolly
Download or read book The Measure of Our Age written by M.T. Connolly and published by PublicAffairs. This book was released on 2023-07-18 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: An expert on elder justice maps the challenges of aging, how things go wrong, and presents powerful tools we can use to forge better long lives for ourselves, our families, and our communities. As tens of millions of Americans are living longer lives, longevity is creating challenges that cut across race, class, and gender. Caregivers help older relatives for “free,” but with high costs to themselves in time, money, jobs, and health. Scammers target countless seniors. The institutions built to protect older people—like nursing homes and guardianship—too often harm them instead. And epidemics of isolation and loneliness make older people vulnerable to all sorts of harm. In The Measure of Our Age, elder justice expert and MacArthur “genius” grant recipient, M.T. Connolly investigates the systems we count on to protect us as we age. Weaving first-person accounts, her own experience, and shocking investigative reporting, she exposes a reality that has long been hidden and sometimes actively covered up. But her investigation also reveals reasons for hope within everyone’s grasp. Connolly’s strategies and action plans for navigating the many challenges of aging will appeal to a wide range of readers—adult children caring for aging parents; policymakers trying to do the right thing; and, should we be so lucky as to live to old age, all of us. This book transforms how we think about aging.
Book Synopsis Why Not Better and Cheaper? by : James B. Rebitzer
Download or read book Why Not Better and Cheaper? written by James B. Rebitzer and published by Oxford University Press. This book was released on 2023-06-20 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: An engaging account of innovation in healthcare and why the results fall short for patients and society. The evolution of the cell phones we carry in our pockets demonstrates that quality can increase while prices fall. Why doesn't healthcare also get better and cheaper? In Why Not Better and Cheaper?, James B. Rebitzer and Robert S. Rebitzer offer an answer to this question. Bringing together research on incentives, social norms, and market competition, they argue that the healthcare system generates the wrong kinds of innovation. It is too easy to profit from low-value innovations and too hard to profit from innovations that reduce the costs of care. The result is a healthcare system that is profusely innovative yet remarkably ineffective in discovering ways to deliver increased value at lower cost. Why Not Better and Cheaper? sheds new light on the trajectory of innovation in healthcare, and how to point innovation in a better direction.
Author :Margaret Morganroth Gullette Publisher :University of Chicago Press ISBN 13 :0226827771 Total Pages :295 pages Book Rating :4.2/5 (268 download)
Book Synopsis American Eldercide by : Margaret Morganroth Gullette
Download or read book American Eldercide written by Margaret Morganroth Gullette and published by University of Chicago Press. This book was released on 2024-10-18 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: A bracing spotlight on the avoidable causes of the COVID-19 Eldercide in the United States. Twenty percent of the Americans who have died of COVID since 2020 have been older and disabled adults residing in nursing homes—even though they make up fewer than one percent of the US population. Something about this catastrophic loss of life in government-monitored facilities has never added up. Until now. In American Eldercide, activist and scholar Margaret Morganroth Gullette investigates this tragic public health crisis with a passionate voice and razor-sharp attention to detail, showing us that nothing about it was inevitable. By unpacking the decisions that led to discrimination against nursing home residents, revealing how governments, doctors, and media reinforced ageist or ableist biases, and collecting the previously little-heard voices of the residents who survived, Gullette helps us understand the workings of what she persuasively calls an eldercide. Gullette argues that it was our collective indifference, fueled by the heightened ageism of the COVID-19 era, that prematurely killed this vulnerable population. Compounding that deadly indifference is our own panic about aging and a social bias in favor of youth-based decisions about lifesaving care. The compassion this country failed to muster for the residents of our nursing facilities motivated Gullette to pen an act of remembrance, issuing a call for pro-aging changes in policy and culture that would improve long-term care for everyone.
Download or read book Counterpunch written by Floyd G Brown and published by Charisma Media. This book was released on 2023-04-04 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: Is it possible for renewal to come through peace rather than power? This book will illuminate how we can implement peaceful resistance against the immorality and policies of the Radical Left to bring a renewal of liberty, freedom, and biblically based principles back to America. In his groundbreaking new book, Counterpunch, Floyd G. Brown issues both the battle cry and a strategic action plan for a populist movement in America that goes beyond any president or political party. Issue by issue, the Left chooses new markers in the sand and waits to see who will embrace their agenda. Those who don’t are canceled and silenced. This leads to alienation and the feeling that violence is the only option left. Brown wants readers to know there is another way, a civil disobedience of the state that allows us to be peaceful—and potentially more successful. Counterpunch explains step-by-step how you can take part in a second American Revolution that will completely reorder the country under new governing principles. Touted as the Christian answer to Saul Alinsky’s Rules for Radicals, Brown’s Counterpunch outlines a strategy for mobilizing a peaceful resistance that leads to collective action. Utilizing an evergreen approach that isn’t focused on specific public policy issues, Floyd delivers a practical, biblically based plan for every American that will lead to the renewal of liberty.
Book Synopsis Soaring Private Equity Investment in the Healthcare Sector by : Richard M Scheffler
Download or read book Soaring Private Equity Investment in the Healthcare Sector written by Richard M Scheffler and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A decade's worth of evidence supports troubling findings that private equity business practices have a negative impact on competition in healthcare and on patients. A new white paper, produced by experts at the American Antitrust Institute (AAI) and UC Berkeley, calls for immediate attention to the role that private equity investment plays in harming patients and impairing the functioning of the healthcare industry. In this groundbreaking new white paper, Soaring Private Equity Investment in the Healthcare Sector: Consolidation Accelerated, Competition Undermined, and Patients at Risk, AAI's Laura Alexander and Professor Richard Scheffler of The Nicholas C. Petris Center on Health Care Markets and Consumer Welfare in the School of Public Health at UC Berkeley detail the emerging threat posed by private equity investment in healthcare markets.“The report documents the astronomical growth of private equity's investment in healthcare, which focuses on short-term profits and not the wellbeing of patients, and its consequences” says UC Berkeley School of Public Health Professor and Petris Center Director Richard Scheffler.The paper's major conclusions include: - Private equity investment in healthcare has grown dramatically--to nearly $750 billion in the last decade--and is poised to increase even further due to the COVID-19 pandemic's impact on the healthcare sector and its projected growth. - The private equity business model is fundamentally incompatible with a stable, competitive healthcare system that serves patients and promotes the health and wellbeing of the population. - Private equity's focus on short-term revenue generation and consolidation undermines competition and destabilizes healthcare markets. - Private equity acts as an anticompetitive catalyst in healthcare markets, amplifying and accelerating concentration and anticompetitive practices. - Private equity funds operate under the public and regulatory “radar,” leaving the vast majority of private equity deals in healthcare unreported, unreviewed, and unregulated. - Urgent action is needed to oversee, investigate, and understand the impact of private equity on patients and healthcare markets, including changes to antitrust reporting requirements, withdrawal of the Department of Justice's guidance on remedies, and study of additional oversight of healthcare mergers by the Department of Health and Human Services.“The ramifications of private equity investment in healthcare are still unfolding,” says study co-author and AAI Vice President of Policy Laura Alexander. “But given the speed with which private equity is transforming healthcare markets and the implications for competition, patients, and public health, the time to act is now.”
