Ep 12: Private Equity in Mental Health Care with Dr. Jane Zhu

Episode Summary

In this episode, Rachel talks to Dr. Jane Zhu, an internal medicine physician, health services researcher, and Associate Professor of Medicine at Oregon Health & Science University. Dr. Zhu's work focuses on how ownership and financial structures shape healthcare delivery and equity — an increasingly important lens as private equity investment grows in behavioral health.

Rachel and Dr. Zhu explore her research on the geographic penetration of private equity ownership in outpatient and residential behavioral health, discussing the implications for access, quality, and clinician autonomy. They also dive into the broader trends of consolidation, policy oversight, and the transparency challenges that affect both patients and providers.

Episode Highlights

0:34 – Introduction to Dr. Zhu and her research focus
1:22 – Why private equity is expanding into behavioral health
3:08 – Key findings from Dr. Zhu's JAMA Psychiatry study
6:27 – Impacts on care quality, clinician autonomy, and patient access
9:52 – Policy and transparency implications for healthcare ownership
13:10 – Dr. Zhu's takeaway: balancing investment with public accountability

Articles & Resources

• Private Equity's Inroads into Mental Health Bring Concern – Psychiatry Online

• Geographic Penetration of Private Equity Ownership in Outpatient and Residential Behavioral Health – JAMA Psychiatry

Connect with Dr. Jane Zhu

Website: OHSU – Jane M. Zhu, MD, MPP, MSHP
LinkedIn: linkedin.com/in/janemzhu

Connect with The Mental Health Evolution

Website: The Mental Health Evolution
Instagram: @thementalhealthevolution
LinkedIn: The Mental Health Evolution
Facebook: The Mental Health Entrepreneur

Music by Zach Harrison