6.M. Workshop: Private equity investment in Europe’s primary care sector

Abstract

Abstract This workshop explores the growing role of private equity funds in Europe's primary care sector. Based on a rapid response report of the European Observatory on Health Systems to the French National Health Insurance Fund (Caisse nationale de l’assurance maladie, CNAM), it offers a platform for sharing examples from across Europe, facilitating cross-country learning through country presentations and audience participation. Private equity investments in Europe’ health sector have increased exponentially in recent years, including in primary care, but this trend has so far received very little attention. This is surprising, as this development has the potential to change the healthcare landscape in Europe dramatically. The short investment and resale horizon of private equity funds and the emergence of practice chains and monopolistic structures are of particular concern. Ultimately, the growing private equity involvement in Europe's primary care sector could undermine equitable access to health care, reduce physicians’ autonomy, affect local or regional cooperation, erode data protection and raise health care costs. However, private equity investments may also be associated with benefits, such as providing needed capital or enabling employment for young physicians who want to work part-time or do not want to run a practice as entrepreneur. So far, there is little transparent information on ownership structures and very little research on the impact of private equity investments on outcomes, such as equity, access and quality of care. This workshop aims to provide a snapshot of trends in Europe and to inform current debates on how regulators should best respond. It provides an overview of the situation in four European countries (Germany, the Netherlands, Ireland and Sweden) and of policy responses so far. The workshop will provide opportunity for the audience to comment on and discuss the country presentations, share experience in their own countries, and consider policy options in Europe to improve transparency on ownership structures and ensure the interests of patients, the public, and health workers are protected. The workshop will be of interest to researchers, practitioners and policy-makers working on primary care in Europe. Key messages • The workshop provides a forum for discussing the growing role of private equity investment in Europe's primary care sector. • It explores regulatory options to safeguard the interests of patients, health workers and the public.