Table 3.
Result of fixed effect model
| log (medical revenue) | log (outpatient visit) | log (total occupy beds of inpatient) | log (surgery revenue) | log (sickbed utilization rate) | |
|---|---|---|---|---|---|
| (1) | (2) | (3) | (4) | (5) | |
| Subsidy percentage | − 0.024*** | − 0.013*** | − 0.026*** | − 0.014*** | − 0.018*** |
| (< 0.001) | (< 0.001) | (0.001) | (0.003) | (0.001) | |
| Type of THCs [C220] | −0.022 | − 0.002 | 0.074 | 0.071 | − 0.038 |
| (0.036) | (0.038) | (0.109) | (0.226) | (0.068) | |
| Number of Physician | 0.005*** | 0.005*** | 0.005** | 0.011** | 0.002 |
| (0.001) | (0.001) | (0.002) | (0.005) | (0.002) | |
| Number of authorized bed | 0.006*** | 0.005*** | 0.034*** | 0.018*** | −0.000 |
| (0.001) | (0.001) | (0.003) | (0.006) | (0.002) | |
| Separation revenue policy | −0.054*** | −0.085*** | − 0.228*** | −0.290** | − 0.108*** |
| (0.020) | (0.022) | (0.061) | (0.128) | (0.039) | |
| Individual effect | YES | YES | YES | YES | YES |
| Time effect | YES | YES | YES | YES | YES |
| Observations | 10,791 | 10,791 | 10,791 | 10,791 | 10,791 |
| R2 | 0.264 | 0.097 | 0.063 | 0.006 | 0.052 |
| Adjusted R2 | 0.171 | −0.018 | −0.055 | −0.120 | −0.068 |
| F Statistic (df = 5; 9579) | 688.720*** | 204.784*** | 129.574*** | 10.739*** | 105.410*** |
Note: ***p < 0.01; **p < 0.05;* p < 0.1
p value of Hausman Test is < 0.05, which indicates that fixed effect model is better