Med Inc.: How Consolidation Is Shaping Tomorrow's Healthcare System

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Behind the media headlines that chronicle the successes--as well as the charges of fraud, abuse, and ethical misconduct--of today's corporate medical giants lies the story of the Wall Street players who are determining the structure of our future health systems. Independent hospitals and clinics, small medical technology companies, solo practitioners, and consumers alike acknowledge that the big business principles driving the frenzy of mergers and acquisitions are bringing the long-awaited rewards of accountability and predictability to the fragmented healthcare industry. But at what cost? Sandy Lutz, a renowned medical business reporter and investment analyst, and Big Six accounting firm partners Woodrin Grossman and John Bigalke provide their insiders' insights into the financial workings of Wall Street's mighty medical corporations--a class the authors refer to as Med Incorporated. With an in-depth study of the most notable leader, Columbia/HCA Healthcare Corp., plus illustrative examples of other medical giants, Lutz and her coauthors demonstrate how these Med Inc. companies excel in managing capital, information, risk, and government regulation--the four key success factors to achieving operational efficiency and market dominance. They show how the missions and operations of investor-owned companies compare with their noninvestor-owned counterparts and examine how current technological and market developments will shape the future of health systems.

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SANDY LUTZ a medical business writer, author, speaker, and media commentator, is a healthcare analyst at Rauscher Pierce Refsnes, a Dallas-based investment bank. She has chronicled the business of health care for such respected national media as Modern Healthcare and WestCott Communications, the nation's largest healthcare satellite network, and in her first book, The For-Profit Healthcare Revolution (1995). JOHN BIGALKE, partners at Price Waterhouse, a Big Six accounting firm, have served as trusted financial advisors to some of the country's largest medical companies on issues ranging from going public to fraud problems to strategy development.