Table 7:

The Effect of Payments, by Risk of Severe Drug Side Effects

	Dependent variable:
	Patients Prescribed Any Anticoagulant			Patients Prescribed the Targeted Anticoagulant
	All Patients	Low Bleeding Risk	High Bleeding Risk	All Patients	Low Bleeding Risk	High Bleeding Risk
	(1)	(2)	(3)	(4)	(5)	(6)
Payment Count, by Type
Own Compensation	0.3590 (0.2306)	0.1037 (0.1273)	0.2553 (0.1582)	0.5149 (0.1683)	0.2054 (0.0964)	0.3095 (0.1126)
Own Food	0.0809 (0.0115)	0.0335 (0.0060)	0.0474 (0.0084)	0.0654 (0.0074)	0.0246 (0.0039)	0.0408 (0.0054)
Peer Compensation	0.0288 (0.0175)	0.0120 (0.0086)	0.0168 (0.0136)	0.0198 (0.0113)	0.0151 (0.0061)	0.0047 (0.0080)
Peer Food	−0.0014 (0.0062)	0.0028 (0.0025)	−0.0042 (0.0054)	−0.0013 (0.0034)	−0.0018 (0.0015)	0.0005 (0.0028)
Mean Dep. Var.	4.7635	1.9595	2.8049	1.0153	0.4489	0.5664
N (Doctor × Drug × Quarter)	1,554,036	1,554,036	1,554,036	3,688,884	3,688,884	3,688,884

Notes: Table shows estimates of the impact of pharmaceutical payments on anticoagulant prescriptions, for the sample of patients diagnosed with atrial fibrillation and who received at least one anticoagulant prescription during the study period. The different columns show results separately by major bleeding risk—an adverse risk of NOAC use—based on the HAS-BLED risk score. The sample is partitioned by bleeding risk based on our calculation of the HAS-BLED score. See Section 5 for details. Columns 1–3 show estimates of the impact of payments (pooled across all three NOAC drugs) on the total number of anticoagulants prescribed per quarter (pooled across all anticoagulants, including NOACs and warfarin). Columns 4–6 show similar estimates, but where both payments and the prescription volume outcomes are measured separately for each NOAC in our sample. Physician-drug, specialty-drug-quarter fixed effects, controls for all other types of payments, and payment-type-specific linear time trends included in all specifications. Standard errors are clustered within doctor.