A recent study, led by Dr. Zirui Song of Harvard Medical School and published in JAMA, indicates that hospitals acquired by private equity firms have seen a rise in hospital-acquired adverse events. This increase occurred despite a shift to a lower-risk patient demographic and fewer medical procedures performed.
The study analyzed data from 100% Medicare Part A claims between 2009 and 2019, comparing 662,095 hospitalizations at 51 private equity-acquired hospitals with 4.2 million hospitalizations at 259 non-acquired hospitals. Findings revealed a 25.4% higher risk of hospital-acquired conditions in private equity hospitals compared to their counterparts, translating to an additional 4.6 such conditions per 10,000 hospitalizations.
Significant increases were noted in falls, central line-associated bloodstream infections, and surgical site infections at private equity hospitals. Notably, surgical site infections doubled despite an 8% reduction in surgical procedures post-acquisition. The study also observed a younger patient population and fewer patients eligible for both Medicare and Medicaid in these hospitals, suggesting a shift towards lower-risk patients.
These findings raise concerns about the impact of private equity ownership on healthcare quality, particularly given their potential cost-cutting strategies, such as reduced staffing. The study, however, notes limitations, including its potential lack of generalizability beyond the sample and the possibility of unmeasured confounding factors, cautioning against implying causation.
Primary Sources: Harvard University, MedPage Today Rating
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