2) it may put more hospital functions under greater physician influence or control.
Surely there are numerous other forces at work here and only the smartest and best informed physicians will win. I don't believe the golden age of medicine was very good for patients, at least on a population basis. However physicians are often well-positioned to consider the patients' best interests. Hopefully, the current grass-roots push towards more accountability and better quality-of-care data will combine with a strong physician perspective and professional management skills at hospitals to improve health outcomes overall.
Then again, the landscape may prove just too complex to navigate.