David Kent Joslin of Sarasota is a senior executive consultant in radiology with many years of experience working with various healthcare services, software development, and management consulting. A successful senior advisor and radiology consultant, David Kent Joslin, has put together deals for multi-million-dollar healthcare mergers throughout his career. David Kent Joslin is also the board member of InSight Radiology Puerto Rico, a multi-site operator of free-standing radiology facilities. David Joslin of Sarasota offers his perspective on how healthcare mergers benefit patients.
Going into 2020, healthcare M&As have accounted for transactions that exceed $11.3 billion. While the numbers don’t lie, what does this mean for patients and those involved in healthcare? From 2017 to 2018, there was a healthcare merger and acquisition increase of 14.4 percent. David Joslin mentions that healthcare mergers are a big trend in the healthcare industry, and he doesn’t anticipate healthcare mergers to slow down anytime soon.
The most important benefit for patients is their access to healthcare will not be interrupted. For starters, most healthcare M&As involve small community-based healthcare centers merging with large regional hospitals. If a local hospital is in financial trouble, it has no chance of survival without merging with a large hospital. Because large regional hospitals have more access to financial resources, healthcare mergers guarantee the survival and growth of the smaller hospitals. Most community-based health centers don’t have access to capital necessary to grow, and merging with a large hospital can provide this.
Cost reduction is the number one benefit of a healthcare merger. The American Hospital Association points out that 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. David Joslin of Sarasota explains that the purpose of healthcare M&As is to have a significant cost reduction for the patients.
Aside from reducing costs for the patients, healthcare mergers also have a positive impact on the quality of the services. David Kent Joslin of Sarasota mentions that all in all, healthcare mergers mean a lower cost for patients and access to more medical resources. Many small healthcare centers don’t have access to capital, and merging with a larger hospital allows them for better patient care. Merging with a large hospital or facility guarantees they increase their access to technology and equipment necessary to treat patients. Access to more technology and resources improves patient outcomes overall.
Since settling in Sarasota with his family, David Kent Joslin of Sarasota loves to spend his free time playing golf and cycling outdoors.