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Consolidation

The process by which smaller healthcare providers or insurance companies merge with or acquire others, leading to fewer, larger entities in the market.

Competition

The rivalry between businesses in the healthcare market, such as hospitals or insurance companies, to attract patients or customers by offering better services, prices, or quality.

Licensure

The official permission granted by a state to individuals (like doctors or nurses) or organizations to practice a profession or operate a business in healthcare, ensuring they meet certain standards.

Mergers and acquisitions (vertical and horizontal)

Horizontal mergers occur when two companies offering similar services merge (e.g., two hospitals). Vertical mergers occur when companies at different stages of the supply chain merge (e.g., a hospital acquiring a physician group).

Certificates of public advantage

State laws that allow certain hospital mergers to proceed even if they reduce competition, often by granting immunity from antitrust laws in exchange for commitments to public benefits.

Certificates of need

State laws that require healthcare providers to obtain official permission from the state before constructing new facilities, expanding existing ones, or offering new services, often to control costs and prevent oversupply.