Appendix Table 3:

Event Study Estimates Corresponding to Figure 6

	Number of HOPDs (Full Sample)	Number of HOPDs (Restricted Sample)	Share of procedures Performed within Owning Hospitals’ HOPDs	Number of Procedures Performed at Competing HOPDs
	(1)	(2)	(3)	(4)
Time == −4	0.0035	0.114	−0.004	−20.503**
	(0.084)	(0.107)	(0.018)	(9.278)
Time == −3	0.055	0.077	0.004	−6.983
	(0.051)	(0.066)	(0.011)	(4.231)
Time == −1	−0.11***	−0.227***	0.013***	3.844
	(0.043)	(0.064)	(0.005)	(2.858)
Time == 0	−0.093	−0.259***	0.019**	7.279
	(0.049)	(0.070)	(0.008)	(5.465)
Time == 1	−0.16***	−0.301***	0.037***	14.256
	(0.049)	(0.074)	(0.012)	(8.098)
Time == 2	−0.16***	−0.313***	0.041***	10.428
	(0.050)	(0.074)	(0.014)	(8.097)
Time == 3	−0.19***	−0.393***	0.054***	−0.655
	(0.051)	(0.076)	(0.018)	(7.490)
Time == 4	−0.19***	−0.332***	0.046	3.275
	(0.060)	(0.094)	(0.031)	(9.226)
Observations (N)	37,303	3,997	3,997	3,997
Unique Physicians	5,329	571	571	571

Standard errors in parentheses

All regressions are clustered at the physician level.

^**p < 0.05,

^***p < 0.01