PubMed · 8243751
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F D Greenblatt. 1993. Maximizing your facility.. https://pubmed.ncbi.nlm.nih.gov/8243751/
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Electromedical technology and systems are an integral part of health services and contribute to their costs. Despite the sometimes high capital costs, they have proved to be effective and efficient for health services. Technological assessment with respect to benefit and cost aspects has been well and systematically evaluated, but requires much work in detail. In many cases less sophisticated procedures are sufficiently effective for a reliable evaluation. Corresponding results that show the cost-saving potential of advanced technology for radiology are reported.
The authors examine performance changes after two leveraged buyouts (LBOs) in the hospital industry, one an employee stock ownership plan (ESOP) and the other a managed buyout (MBO). The findings show that hospitals owned by HCA, the MBO firm, and Health Trust, the ESOP firm, did not increase revenues, decrease operating expenses, or improve profitability after the LBOs, relative to other hospitals in their local markets. Nor were the numbers or salaries of employees at these facilities decreased. Although performance incentives associated with LBOs did not change performance at the hospital level, incentives to meet debt payments did result in corporate changes. More specifically, the LBOs led to corporate downsizing through the sale of hospitals and subsidiaries.