Journal
INTERNATIONAL JOURNAL OF INDUSTRIAL ORGANIZATION
Volume 21, Issue 10, Pages 1571-1589Publisher
ELSEVIER SCIENCE BV
DOI: 10.1016/S0167-7187(03)00073-0
Keywords
competition; cost efficiency; managed care; panel data; stochastic frontier function
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The paper examines how hospital cost efficiency has reacted to extensive horizontal integrations of hospitals and rapid growth of managed care in the US health care industry. Cost efficiency is estimated by using panel data approaches to relax the assumptions for the hospital effects imposed in earlier studies. The paper shows that higher managed care penetration over time is associated with greater hospital efficiency, and higher market concentration is positively associated with efficiency when markets are highly competitive or highly concentrated. (C) 2003 Elsevier B.V. All rights reserved.
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