Table 3:
Vertical Integration Effects on Physicians’ Outpatient Procedure Output and Charges
| Total Cases | Avg. Procedures Per Case | Total Charges (‘000) | Total Medicare Charges (‘000) | Total Commercial Charges (‘000) | |
|---|---|---|---|---|---|
| (1) | (2) | (3) | (4) | (5) | |
| −3.121 | −0.095 | 214.4*** | 76.3** | 4.3 | |
| (5.505) | (0.139) | (71.8) | (32.3) | (32.9) | |
| Year FE | Yes | Yes | Yes | Yes | Yes |
| Physician FE | Yes | Yes | Yes | Yes | Yes |
| Observations (N) | 37,303 | 37,303 | 37,303 | 37,303 | 37,303 |
| Unique Physicians | 5,329 | 5,329 | 5,329 | 5,329 | 5,329 |
Analytic sample includes the universe of outpatient procedure discharge records in Florida from 2009–2015. “Vertically Integrated” is equal to one for physicians that report hospital or health system ownership of their practice in a given year. “Medicare” includes all patients in the traditional (fee-for-service) public insurance program. “Commercial” refers to privately insured, non-Medicare patients. The procedures per case outcome captures the total number of Current Procedure Terminology (CPT) codes listed on a given outpatient discharge record. All reported charges are in nominal dollars (in thousands) and are not deflated by any cost-to-charge discount factor All models include year and physician fixed effects (FE). Standard errors are clustered at the physician level.
p < 0.05
p < 0.01