As a senior radiology consultant and after many years of experience in investment banking, David Joslin helped put together multi-million dollar deals for major healthcare companies. He has led a team in their corporate strategy, project development, and financial management tasks. After coordinating many multi-million dollar healthcare M&A deals, David Joslin is familiar with the benefits these mergers have for patients. In 2019, for example, healthcare M&As accounted for transactions that exceed the $11.3 billion. Between 2017 to 2018, healthcare M&As increased by 14.4 percent.
David Joslin explains that the purpose of healthcare M&As is to have a positive impact on the patient. Most healthcare M&As involved small community-based healthcare centers merging with large regional hospitals. According to David Joslin, when these mergers take place is usually to guarantee the survival and growth of the smaller hospitals. Healthcare mergers aim to have a positive impact on employees and the overall business, but patients also see a lot of benefits.
David Joslin mentions that overall, patients see a decrease in out of pocket costs after a healthcare merger. Once the transaction is finalized, healthcare centers and hospitals have more access to capital, which in turn can lower overall costs for patients. The numbers prove that healthcare mergers mean significant financial savings 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.
David Joslin points out that although people focus on the cost reduction for patients, another benefit includes better care. For example, if a larger hospital doesn’t acquire a local health center, the people in that community can lose access to care. Small practices see the most benefits since they have the back up and support of large hospitals, which means better 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 better care. However, if those mergers don’t happen, local and small healthcare centers can go under, and the community can lose access to healthcare.
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. 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 Joslin currently lives in Sarasota with his family.