The association of ownership and system affiliation with the financial performance of inpatient psychiatric hospitals.

Using a pooled, cross-sectional time-series analysis, this study examines the relationship of financial performance of short-term, inpatient psychiatric hospitals to ownership and system affiliation. After controlling for market variables, case mix, the number of services, and bed size, the results indicate that for-profit psychiatric hospitals had higher revenues per adjusted discharge, higher expenses per adjusted discharge, and higher profitability compared to not-for-profit hospitals. System affiliated psychiatric facilities had lower revenues per adjusted discharge, lower expenses per adjusted discharge, and lower profitability than freestanding facilities.