How Private Equity Is Buying Up Ambulance Companies

Episode notes

Private equity has moved into emergency medical services, acquiring ambulance companies across the United States. In this episode, Lucas and Luna examine the rollout of American Medical Response and Global Medical Response, and how private equity consolidated the fragmented ambulance industry. They discuss the economics of emergency transport, the impact on response times and paramedic pay, and the controversy over surprise billing. Lucas explains that private equity firms were attracted to the steady cash flows from Medicare and insurance reimbursements, but critics argue that cost-cutting has hurt service quality. They also look at how the pandemic changed the landscape, with higher call volumes and staffing shortages. Luna asks whether the model can work in rural areas where call volumes are low. The episode includes a donation segment where the hosts note that listener support keeps the show ad-free.

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