Private equity acquisition of nursing homes ? Implication for quality and finance

描述（由申请人提供）：私募股权收购养老院：对质量和财务的影响。私募股权（pe）在过去几年中收购了多家大型连锁养老院；到2007年，它拥有了10家最大连锁店中的6家。批评人士称，体育养老院为了追求利润而降低了护理质量，并呼吁加强监管。养老院的质量是公众关注的一个重要问题，因为这个国家一些最脆弱的公民的福祉受到威胁；此外，该行业的主要付款人政府对养老院的表现及其持续的财务可行性有着浓厚的兴趣。然而，关于体育所有制对养老院质量影响的实证证据仍然有限，而且往往是相互矛盾的。本研究将遵循以下研究目标：1)通过Donabedian的结构-过程-结果（SPO）框架，考察私募股权收购对养老院质量的影响。2)分析私募股权收购对养老院财务绩效（即成本、收入和利润率）的影响。本研究的数据来自五个不同的来源：在线调查、认证和报告（OSCAR）、养老院比较数据集、布朗大学长期护理重点数据集、医疗保险成本报告和区域资源文件（ARF），研究期间为2000-2008年。样本将包括位于加利福尼亚州、佛罗里达州、伊利诺伊州、纽约州和德克萨斯州的养老院。主要的独立变量将是私人股本所有权。它将编码为养老院所有权的二分类变量（0或1），表示所述养老院是否为私募股权所有。对于研究目标1，质量将像Donabedian的结构-过程-结果（SPO）框架一样可视化，并作为私募股权所有权的函数建模。对于研究目标2，财务业绩将通过多个变量（成本、收入和利润率）来衡量，这些变量表示为私募股权所有权的函数。本研究将加深我们对私募股权对养老院绩效影响的理解。这将有助于制定适当的政策回应，并有助于保护一些最弱势美国人的利益和生活质量。

DESCRIPTION (provided by applicant): Private equity acquisition of nursing homes: Implications for quality and finance. Private equity (P.E) has acquired multiple large nursing home chains within the last few years; by 2007, it owned six of the 10 largest chains. Critics have alleged that P.E nursing homes compromise quality of care in pursuit of profits and have called for greater regulatory oversight. Nursing home quality is an important public concern because the well-being of some of the nation's most vulnerable citizens is at stake; in addition, the industry's principal payer government has a strong interest in nursing home performance and its continued financial viability. However, the empirical evidence on the purported impact of P.E ownership on nursing home quality remains limited and often contradictory. The proposed research will be guided by the following research aims: 1) To examine the impact of private equity acquisition on nursing home quality as visualized by Donabedian's Structure-Process-Outcome (SPO) framework. 2) To analyze the impact of private equity acquisition on nursing home financial performance (i.e. costs, revenues, and margins). The data for this study comes from five different sources: Online Survey, Certification and Reporting (OSCAR), Nursing Home Compare dataset, Brown University's Long-Term Care Focus dataset, Medicare Cost Reports, and Area Resource File (ARF) for the study period 2000-2008. The sample will consist of nursing homes located in California, Florida, Illinois, New York, and Texas. The primary independent variables would be Private equity ownership. It would coded as a dichotomous variable (0 or 1) for nursing home ownership expressing whether the said nursing home is owned by private equity or not. For research aim 1, quality would be as visualized as Donabedian's Structure- Process-Outcome (SPO) framework and modeled as a function of private equity ownership. For research aim 2, financial performances would be measured by multiple variables (costs, revenues and margins) expressed as a function of private equity ownership. The proposed study will increase our understanding of the impact of private equity ownership on nursing home performance. This will facilitate the framing of appropriate policy responses, and help protect the interests and quality of life of some of the most vulnerable Americans.