The American Antitrust Institute (AAI), in collaboration with the University of California at Berkeley (UCB) Petris Center on Health Care Markets and Consumer Welfare, and the Washington Center for Equitable Growth (Equitable Growth), announced the release of two addendums to the report, Monetizing Medicine: Private Equity and Competition in Physician Practice Markets.
The report, covered by various media outlets including the New York Times and Washington Post, highlights private equity’s voracious acquisition of physician practices over the last several years, evaluating market penetration across 10 physician practice specialties within markets across the United States, the impact on market shares and concentration, and on prices and expenditures.
The addendums provide additional data and more detailed information regarding metropolitan statistical areas (MSAs) that had a private equity (PE) firm with 30+% or 50+% market share in 2021 for one or more of the ten physician specialties analyzed in the report. Addendum 1 provides the physician specialty, the name of the physician practice, and the PE firm with the 30+% or 50+% market share for most of the MSAs mentioned in the original report. Addendum 2 presents the MSA-level three year post-PE price increase for the affected specialty.
“I am pleased that we are able to publish this additional information, which sheds more light on the important findings detailed in this report,” said Randy Stutz, President of AAI.
“The additional data shows the far reaching impact that private equity is having on healthcare markets,” noted Professor Richard Scheffler, lead author on the addendums.
The addendums were authored by: Richard M. Scheffler, PhD, Distinguished Professor of Health Economics and Public Policy; Director of the Nicholas C. Petris Center on Health Care Markets and Consumer Welfare, University of California, Berkeley; and Daniel R. Arnold, PhD, Assistant Research Economist; Research Director of the Petris Center.
The report was authored by: Richard M. Scheffler, PhD, Distinguished Professor of Health Economics and Public Policy; Director of the Nicholas C. Petris Center on Health Care Markets and Consumer Welfare, University of California, Berkeley; Laura Alexander, JD, Director of Markets and Competition, Washington Center for Equitable Growth; Brent D. Fulton, PhD, MBA, Associate Research Professor of Health Economics and Policy; Associate Director of the Petris Center; Daniel R. Arnold, PhD, Assistant Research Economist; Research Director of the Petris Center; and Ola A. Abdelhadi, PhD, Post-doctoral Scholar, Petris Center.
Funding for the project was generously provided by Arnold Ventures.
Resources:
Read the addenda
Read the full report and addenda
For further information, please contact:
Richard Scheffler (UCB): 510-508-5079, rscheff@berkeley.edu
Randy Stutz (AAI): 202-828-1226, rstutz@antitrustinstitute.org