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Abstract: We study how ownership changes among dialysis facilities affect providers’ behavior and patients’ outcomes. Using a rich panel of Medicare claims data on over 1 million dialysis patients, we document several ways in which behavior changes at the approximately 1200 independent facilities acquired by large chains during our sample period. Most notably, acquired facilities increase patients’ doses of highly reimbursed drugs, replace high-skill nurses with less-skilled technicians, and waitlist fewer patients for a kidney transplant. Although adopting the acquiring firm’s strategy results in higher Medicare payments for the acquired facility, it leads to worse patient outcomes for hospitalization and mortality.
Main Paper: How Ownership Changes Affect Behavior and Outcomes: Evidence from Dialysis Facility Acquisitions
Also in the seminar: Strategic Patient Discharge: The Case of Long-Term Care Hospitals