中文摘要
企业实体的收购推动了医疗保健领域连锁组织的成长。连锁是处于同一所有权和管理之下、在不同地点提供类似服务的多门店企业。连锁所有权被认为提升了零售业和服务业的企业绩效,但在医疗保健领域却因将利润置于患者福祉之上而受到批评。本文发现,连锁所有权改善了体外受精(IVF)市场的医疗结果。利用美国生育诊所的新颖数据与双重差分方法,我们发现被生育连锁收购后,IVF周期数量增加27.2%,IVF成功率提高13.6%。我们提供的证据表明,生育连锁促进了提升质量与扩大IVF市场所需的资源和知识转移。例如,被收购诊所改变IVF流程与操作规程,以实现IVF的黄金标准——同时减少高风险的多胎出生并增加单胎出生。我们还讨论了生育行业相对较少的市场摩擦与信息不对称如何激励连锁所有者投资于质量。
Abstract
Acquisitions by corporate entities have fueled the growth of chain organizations in healthcare. A chain is a multiunit firm under the same ownership and management providing similar services in different locations. Chain ownership has been credited with boosting firm performance in the retail and service sectors but has been criticized for prioritizing profits over the well-being of patients in the healthcare sector. This paper finds that chain ownership improves healthcare outcomes in the market for in vitro fertilization (IVF). Using novel data on U.S. fertility clinics and difference-in-differences methods, we find that IVF cycles increase by 27.2%, and IVF success rates increase by 13.6% after acquisition by a fertility chain. We provide evidence that fertility chains facilitate resource and knowledge transfers needed to enhance quality and expand the IVF market. For example, acquired clinics change IVF processes and procedures to achieve the IVF gold standard of simultaneously reducing higher-risk multiple births and increasing singleton births. We discuss how the fertility sector’s relatively minimal market frictions and information asymmetries may incentivize chain owners to invest in quality.