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In a December 27th article published in the Wall Street Journal, the Petris Center contributed an analysis demonstrating the growing trends for physicians being employed by hospitals rather than by medical groups or independent practices, seen in a graphic in the article. The article provides insight into the increasingly higher costs of care when provided by a hospital group as compared to a doctor’s office. It also points to doctors referring their patients to hospitals that they are affiliated with, despite the higher costs for not only the insurer, but in out-of-pocket costs for patients. This article describes the growing trend of hospital acquisitions of physician groups and the resulting increase in prices for patients, but it mainly focuses on the knowledge asymmetry of doctors referring patients to a more expensive option they are affiliated with and often times are “required” by their employer to recommend.
Read the full article here
Health Affairs article by Brent D. Fulton, Petris Center, UC Berkeley