A New York Times article earlier this month examined the financial impact of hospital mergers on their patients. In comments to the press and public, hospital CEOs and executives often speak of the benefits a merger will have, including offering quality care to people in areas that were underserved, while lowering costs to the patient because of the continuity in care. A lower cost, streamlined healthcare experience would be the result of fewer medical tests, as well as easy information exchange between physicians of differing specialties through a medical record system. This, hospital executives say, would reduce cost for the patient, while also increasing their ability to do their job and cut back on unnecessary visits, procedures, treatments, and tests, ultimately resulting in less waste.
But data seems to prove that rebranding a hospital actually has the opposite impact on a patient’s wallet, costing patients more through higher insurance premiums, deductibles or other out of pocket expenses.
Data Shows Chicago Hospital Mergers Cost Patients More