Table 1.

Descriptive statistics for variables in the profit models (n = 1317)

Variable	Mean	SD	Min	Max
Operating margin	0.0113	0.1081	− 0.4321	0.3379
Total margin	0.0513	0.0905	− 0.2918	0.3523
Efficiency scorea	0.8914	0.0536	0.4388	1.0000
Academic medical center	0.1230	0.3286	0	1
Average length of stay	4.7476	1.2313	1.7026	15.2356
Beds	295.3789	239.0801	20	2654
Herfindahl–Hirschman Indexb,c	0.3454	0.2376	0.0523	1
Medicaid expansion state	0.6674	0.4713	0	1
Medicaid share of admissions	0.1966	0.0924	0.0106	0.7457
Medicare share of admissions	0.4792	0.0959	0.1296	0.7496
Occupancy rate	0.6168	0.1432	0.1532	0.9853
System member	0.8011	0.3994	0	1
Unemployment ratec	5.2117	1.3343	2.2000	21.8000

^aTo facilitate interpretation, we reverse coded (1-inefficiency score) cost-inefficiency. To provide a “truer” benchmark for the efficiency estimate, the SFA analysis included all (n = 1823) metropolitan, NFP and FP, general, acute care hospitals for which complete data were available

^bBased on all competing hospitals (includes acute, general, local government hospitals but not federal hospitals) for which admissions data were available

^cCounty-level variable