As a healthcare consultant, David Joslin’s job is to advise companies on developing competitive strategies, identify growth, and pursue value-additive mergers and acquisitions. Throughout his career, David Joslin has put together multi-million dollar deals for several healthcare companies. Those familiar with the healthcare industry trends, they have seen an increase in mergers and acquisitions over the past few years. From 2017 to 2018, there was an M&A increase of 14.4 percent. Also, so far, in 2019, healthcare M&As have accounted for transactions that exceed the $11.3 billion.
Most healthcare M&As involved small community-based healthcare centers merging with large regional hospitals. According to David Joslin, when these mergers take place it is usually to guarantee the survival and growth of smaller hospitals. Although M&As in healthcare aim to have a positive impact on employees and the overall business, what effects do they have on patients?
David Joslin explains that the purpose of healthcare M&As is to have a positive impact on the patient. Those in favor of healthcare mergers argue that these transactions mean lower out-of-pocket costs for patients. After a merger, healthcare centers and hospitals have more access to capital, which in turn can lower overall costs for patients. According to the American Hospital Association, healthcare mergers accounted for a 2.5 percent cost reduction between 2009 and 2014, which saved healthcare centers and patients a total of $5.8 million.
Aside from the cost reduction benefits, healthcare mergers also have a positive impact on the quality of the services. In some instances, if a larger hospital doesn’t acquire a local health center, the people in that community can lose access to care. When a healthcare merger happens, the smaller healthcare facility has access to more services. Thanks to the increase in resources and equipment, patients have access to higher quality services. Small practices have the backup and support of large hospitals, which means better care.
Aside from his work as a senior executive consultant in radiology, David Kent Joslin is also a board member of InSight Radiology Puerto Rico, a multi-site operator of free-standing radiology facilities. David Kent Joslin obtained his MBA in finance and accounting from Columbia Business School and a Bachelor of Arts in history and political science from Duke University. He also holds a real estate license in the state of New York. When he is not playing a game of golf, he likes to spend time with his family in their Sarasota home.