Health Care Provider Consolidation and Shortages

December 2023

Authors

Brian Kaul

Andrew Larocque, ASA, MAAA

Tricia Matson, FSA, MAAA

Rebecca Sheppard, FSA, MAAA

Risk & Regulatory Consulting, LLC

Description

In the past two decades, there has been considerable consolidation among U.S. health care providers, including among hospitals, physician practices, and private equity entities. And currently, the U.S. has been experiencing a shortage of physicians and other health care providers—shortages that are projected to be exacerbated in the next decade. In this paper, we explore the recent trends, current landscape and reasons for provider consolidations and provider shortages, as well as their impact on health care morbidity, specifically on health care costs and utilization.

Materials

Health Care Provider Consolidation and Shortages

Acknowledgments

The researchers’ deepest gratitude goes to those without whose efforts this project could not have come to fruition: the Project Oversight Group, whose members diligently worked at overseeing, reviewing and editing this report for accuracy and relevance.

Project Oversight Group members:

Xuanyou Li
Zeyuan (Bill) Li, FSA, CERA
George Omondi, ASA, MAAA, FCA
Daniel Pribe, FSA, MAAA
Tina Rizzo, FSA, MAAA
Sudha Shenoy, FSA, MAAA, CERA
Huiqing Wu, ASA
Jingcheng Yu, FSA, CERA

At the Society of Actuaries Research Institute:
Achilles Natsis, FSA, MAAA, FMLI
Erika Schulty, Research Administrator

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