Industrial Organization Of Health Care Markets

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The Industrial Organization Of Health Care Markets

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Author : Martin Gaynor
language : en
Publisher:
Release Date : 2014

The Industrial Organization Of Health Care Markets written by Martin Gaynor and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Economics categories.

The US health care sector is large and growing - health care spending in 2011 amounted to $2.7 trillion and 18% of GDP. Approximately half of health care output is allocated via markets. In this paper, we analyze the industrial organization literature on health care markets focusing on the impact of competition on price, quality and treatment decisions for health care providers and health insurers. We conclude with a discussion of research opportunities for industrial organization economists, including opportunities created by the US Patient Protection and Affordable Care Act.

Industrial Organization Of Health Care Markets

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Author : Benjamin R. Handel
language : en
Publisher:
Release Date : 2021

Industrial Organization Of Health Care Markets written by Benjamin R. Handel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.

In this paper we outline the tools that have been developed to model and analyze competition and regulation in health care markets, and describe particular papers that apply them to policy-relevant questions. We focus particularly on the I.O. models and empirical methods and analyses that researchers have formulated to address policy-relevant questions, although we also provide an overview of the institutional facts and findings that inform them. We divide the chapter into two broad sections: (i) papers considering competition and price-setting among insurers and providers and (ii) papers focused specifically on insurance and market design. The former set of papers is largely concerned with models of oligopolistic competition; it is often focused on the US commercial insurance market where prices are market-determined rather than being set administratively. The latter focuses on insurance market design with an emphasis on issues raised by asymmetric information, leading to adverse selection and moral hazard. In addition, we discuss the literature on consumer choice frictions in this market and the significant implications of those frictions for I.O. questions.

Health Economics

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Author : Xavier Martinez-Giralt
language : en
Publisher: Routledge
Release Date : 2013-06-17

Health Economics written by Xavier Martinez-Giralt and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-06-17 with Business & Economics categories.

Research in Health Economics has developed into a separate discipline for the last 25 years. All this intense research activity, has translated in the inclusion of courses of health economics, mostly at graduate level. However, the Industrial Organization aspects of the health care market do not occupy a central place in those courses. We propose a textbook of health economics whose distinguishing feature is the analysis of the health care market from an Industrial Organization perspective. This textbook will provide teachers and students with a reference to study the market structure aspects of the health care sector. The book is structured in three parts. The first part will present the basic principles of economics. It will bring all readers to the required level of knowledge to follow subsequent parts. Part II will review the main concepts of health economics. The third part will contain the core of the book. It will present the industrial organization analysis of the health care market, based on our own research.

Essays On The Industrial Organization Of Healthcare Markets

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Author : Cici McNamara
language : en
Publisher:
Release Date : 2022

Essays On The Industrial Organization Of Healthcare Markets written by Cici McNamara and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.

Electronic health record (EHR) alerts can serve as nudges that remind physicians of relevant clinical guidelines and inform them when their patients are eligible for recommended services. This paper examines another possible mechanism by which EHR alerts might influence physician behavior, which is by validating new technologies. I analyze the effects of an EHR alert for colorectal cancer screening implemented at the primary care clinics of a large academic health system. This alert functioned both as a standard nudge and implicitly validated a new screening technology. I find that the implementation of the alert more than doubled the new technology's share of screenings and increased overall screening rates by 29%. I use a nested logit model to quantify how much the nudge and validation contribute to the increase in screening rates and find that the nudge accounts for 80% of the increase.

Essays On Industrial Organization And Health Care Markets

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Author : Alexander Lee Olssen
language : en
Publisher:
Release Date : 2021

Essays On Industrial Organization And Health Care Markets written by Alexander Lee Olssen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.

This thesis comprises three essays on the industrial organization of health care markets. In the first essay, joint with Mert Demirer, I study how formulary–contingent rebates affect insurers formulary placement of branded statins. The prices charged for on–patent, branded pharmaceuticals represent a large, and controversial, component of medical spending in the U.S. In contrast to many countries and many other government programs, drug prices in the Medicare Part D program are determined by privately negotiated rebates between insurance plans and drug manufacturers. How large are these rebates? What would happen to formularies, consumer surplus, and firm profits if the government could increase the rebates of a blockbuster Medicare Part D drug? We estimate a simultaneous model of insurance demand and statin demand for the population of statin users in 2010. Our demand estimates allow us to quantify how insurer profits change under different statin formulary structures. We use these profit functions to estimate the rebates for Crestor and Lipitor, two blockbuster drugs, using a moment inequality approach; we estimate rebates between 25% and 54% for branded statins. In counterfactuals, we analyze the effect of rebates on formulary design and consumer surplus. We show that increasing only Crestor rebates has no effect on consumer surplus because of offsetting effects on winners and losers. In contrast, increasing only Lipitor rebates does increase consumer surplus. If rebates reduced U.S. prices to match those paid in Canada, then consumer surplus would increase by up to 3.1% In the second essay, I compare estimates of formulary–contingent rebates using three empirical moment inequality models. Unobserved private rebates are an important determinant of the prices that insurers pay drug manufacturers in Medicare Part D. There is growing interest in understanding these negotiated rebates and there consequences on market equilibrium. However rebates are secret and have proven difficult to estimate. In this paper I compare three moment inequality models that I use to estimate formulary–contingent rebates for branded statins. The first model, which only allows for measurement error, imposes the strong assumption that their is no rebate heterogeneity that is unobserved to the econometrician. Due to the fact that different insurers use different agents (Pharmacy Benefit Mangers) in rebate negotiations, this assumption is unlikely to hold. As a consequence I develop two models that allow for unrestricted insurer–specific unobserved rebate heterogeneity. Somewhat surprisingly, the measurement errors only model produces reasonable results in this context, however the rebates for Lipitor are approximately twice as large in my preferred model relative to the measurement errors only model. In the third essay, also joint with Mert Demirer, I study the effects of government negotiated drug prices using Nash–in–Nash bargaining models. One of the most controversial aspects of Medicare Part D is that the government is prohibited from being involved in price negotiations despite the fact that it provides almost $100 billion to the program in subsidies each year. We model pharmaceutical drug price setting using Nash–in–Nash bargaining models. We compare two models: one where insurers negotiate drug prices and another where the government negotiates prices. We show that the ability for the government to improve consumer surplus depends on both upstream and downstream market structure. With many insurers and few drug manufacturers, the government can increase consumer surplus, but with few insurers the government cannot increase consumer surplus no matter how much bargaining power it has vis–a–vis drug manufacturers. We also show that a Nash–in–Nash bargaining model where insurers and drug manufacturers negotiate over both manufacturer prices and copays can be used to estimate unobservable manufacturer prices and bargaining weights as long as there are profit spillovers across bilateral negotiations.

Competition In Health Care Markets

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Author : Martin Gaynor
language : en
Publisher:
Release Date : 2011

Competition In Health Care Markets written by Martin Gaynor and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Competition categories.

This paper reviews the literature devoted to studying markets for health care services and health insurance. There has been tremendous growth and progress in this field. A tremendous amount of new research has been done in this area over the last 10 years. In addition, there has been increasing development and use of frontier industrial organization methods. We begin by examining research on the determinants of market structure, considering both static and dynamic models. We then model the strategic determination of prices between health insurers and providers where insurers market their products to consumers based, in part, on the quality and breadth of their provider network. We then review the large empirical literature on the strategic determination of hospital prices through the lens of this model. Variation in the quality of health care clearly can have large welfare consequences. We therefore also describe the theoretical and empirical literature on the impact of market structure on quality of health care. The paper then moves on to consider competition in health insurance markets and physician services markets. We conclude by considering vertical restraints and monopsony power -- National Bureau of Economic Research web site.

Competition And Quality In Health Care Markets

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Author : Martin Gaynor
language : en
Publisher: Now Publishers Inc
Release Date : 2006

Competition And Quality In Health Care Markets written by Martin Gaynor and has been published by Now Publishers Inc this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Business & Economics categories.

Provides an economic assessment of the impact of competition on quality in health care markets. This book offers performance standards for competition; findings from economic theory; and, empirical evidence on health care competition and quality.

Industrial Organization Of Markets For Health Insurance And Medical Services

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Author : Hugh Stanley Richardson
language : en
Publisher:
Release Date : 1997

Industrial Organization Of Markets For Health Insurance And Medical Services written by Hugh Stanley Richardson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Health insurance categories.

Competition In The Health Care Sector

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Author : Warren Greenberg
language : en
Publisher: Beard Books
Release Date : 2002

Competition In The Health Care Sector written by Warren Greenberg and has been published by Beard Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Business & Economics categories.

Source of the debate on how much competition and regulation are necessary in the health care industry. This is a reprint of proceedings from a 1977 conference.

Issues In The Industrial Organization Of The Market For Physician Services

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Author : Martin Gaynor
language : en
Publisher:
Release Date : 1994

Issues In The Industrial Organization Of The Market For Physician Services written by Martin Gaynor and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Health insurance categories.