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Working Papers

“Corporate Ownership and Firm Performance: Evidence from Fertility Clinics” with Julia Bodner

Corporate investors are often credited with boosting target firm performance but criticized for prioritizing profits over consumer well-being. This tension is particularly evident in the healthcare sector, where information frictions contribute to underinvestment in quality. This paper finds that corporate ownership can improve healthcare outcomes in a setting where patients have access to service pricing and quality information – the market for In Vitro Fertilization (IVF). After acquisition by a fertility chain, clinic volume increases by 28.2%, and IVF success rates increase by 13.6%. Fertility chains also implement changes that enhance quality, benefit underperforming clinics, and expand the IVF market.

Work in Progress

Turbocharging Revenue: What Do Healthcare Providers Do With Windfall Gains?” with Atul Gupta and Adam Sacarny 

Study on unexpected physician deaths and the impact on peer decision-making and personnel changes with Mathijs De Vaan

Study of gender and peer effects in the operating room with Solène Delecourt


Yu, J., Bond, A., Braun, R. T., La Forgia, A., RoyChoudhury, A., Zhang, M., Kim., J, & Casalino, L. (2023). Physician Management Companies and Neonatology Prices, Utilization, and Adverse Clinical Outcomes. Pediatrics.


La Forgia, A. (2022). The Impact of Management on Clinical Performance: Evidence from Physician Practice Management Companies. Management Science.

 –AOM William H. Newman Award Finalist, 2020; AOM HCM Division Best Paper Award, 2020; AOM HCM Best Paper Based on a Dissertation Award, 2020; Industry Studies Association’s Giarratani Rising Star Award, 2020

La Forgia, A., Bond, A., Braun, R. T., Yao, L. Kjaer, K., Zhang, M., & Casalino, L. (2022). Association of Physician Management Companies and Private Equity Investment With Commercial Health Care Prices Paid to Anesthesia Practitioners. JAMA Internal Medicine.

– Media Coverage: ModernHealthcareHealthcareDiveBecker’s Hospital ReviewJAMA PodcastWall Street Journal

– Finalist for the 2023 NIHCM Research Award

La Forgia, A., Bond, A., Braun, R. T., Kjaer, K., Zhang, M., & Casalino, L. (2021). Association of Surprise Billing Legislation with Prices Paid to In-Network and Out-of-Network Anesthesiologists in California, Florida, and New York. JAMA Internal Medicine.

– Media Coverage: U.S. News and World ReportBenefitsProKaiser Health News


La Forgia, A. (2020). The Impact of Acquisitions on Clinical Decisions: Evidence from Physician Practice Management Companies. Proceedings of the Eightieth Annual Meeting of the Academy of Management.


La Forgia, A., Maeda, J. L., & Banthin, J. S. (2017). Are Integrated Plan Providers Associated with Lower Premiums on the Health Insurance Marketplaces? Medical Care Research and Review.

– Media Coverage: The New York Times Upshot


La Forgia, A., & Burns, L. R. (2017). Health Insurance in China. In L.R Burns & G. Liu (Eds.), China’s Health Care System and Reform (pp. 291-320). Cambridge, UK: Cambridge University Press.

Interviews, News, and Popular Press

Bichell, Rae Ellen. (October 12, 2022). Routine births are turning into moneymaking ‘emergency’ events at hospitals that work with private equity-backed staffing companies. Fortune.


Anesthesia Practice Management Success with Justin Harvey, Episode 154. (July 18, 2022). Here’s What Happens To Anesthesia Contracts When Private Practices Get Bought Out w. Dr. Ambar La Forgia.


Tribble, Sarah Jane. (June 15, 2022). Buy and Bust: When Private Equity Comes for Rural Hospitals. Kaiser Health News.


Krupp, Lexi. (March 22, 2022). Vermont’s largest hospital system and a massive insurance company are deadlocked. Thousands of patients are caught in the middle. Vermont Public Radio.

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