The year 2022 was a big one for merger and acquisition activity among hospitals and health systems in Wisconsin. To understand how the health care marketplace is being transformed by this and other trends – including higher costs, labor shortages and the shift to digital – BizTimes Milwaukee asked several key leaders in the industry to share their observations and forecasts for 2023.
Consolidation continues as costs climb
“If we take a look back at the last decade, one of the major changes that occurred was an acceleration of consolidation,” said Bill Santulli, president of Advocate Health’s Midwest region.
There have been approximately 1,519 hospital mergers in the past 20 years, with more than 680 since 2010, according to a 2018 statement before the Committee on Energy and Commerce Oversight and Investigations Subcommittee in the U.S. House of Representatives.