Consolidation has changed the healthcare landscape.
Here's what three healthcare leaders have to say about consolidation and its effects on their markets:
Robert Bell, MD. Founder and Orthopedic Surgeon at Cypress Orthopedics (Houston): The overarching trend toward consolidation raises concerns regarding potential constraints on patient choice and diminished competition in select regions, thereby posing substantive challenges to the long-term accessibility and affordability of healthcare services.
James Flaherty, MD. Cardiologist at Northwestern Medicine (Chicago): The major healthcare market shift over the past few years in the Chicago area has been the further consolidation of hospitals into large health systems.
Ben Seals. CEO of Thomas Eye Group (Atlanta): The eye care market in Atlanta has undergone significant changes in recent years. While there has been substantial consolidation within Atlanta, the level of competition has continued to rise. Presently, there are four eye care platforms based in Atlanta, making survival as one of the few independent multispecialty practices a considerable challenge. Compounding this challenge is the increasing cost of labor and its availability, which puts pressure on all aspects of healthcare. Consequently, we are experiencing growing pressures from both patients and providers to develop effective tools for productivity enhancement and process improvement. One of the emerging difficulties lies in differentiating one practice from another. As consumers become increasingly tolerant of virtual or independent care delivered on demand, it becomes more challenging to stand out. Consumers now expect healthcare, including eye surgery, to be accessible on demand, with treatment times becoming progressively shorter.
Learn more about how different markets are changing here.