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Is the decision to merge really a question of access to capital?

Institutional mergers are not a panacea for hospitals with financial or operating problems, and the apparent advantage of multihospital systems does not lie in their access to capital and human resources. The critical disadvantage of independent hospitals may be the result of attitudes held by governing boards. This article suggests that boards adopt new business tenets, especially regarding accountability, risk, pricing, competition, regulation, innovation, resource management, and purpose.