Equilibrium Effects of Health Care Price Information

• 成果类型: Article
• 署名作者: Brown, Zach Y.
• 署名单位: University of Michigan System; University of Michigan; National Bureau of Economic Research
• 刊物名称: REVIEW OF ECONOMICS AND STATISTICS
• ISSN/ISSBN: 0034-6535
• DOI: 10.1162/rest_a_00765
• 发表日期: 2019-10
• 页码: 699-712
• 关键词: transparency; COMPETITION; insurance; internet; MARKETS; GROWTH; COSTS; MODEL

摘要

Do information frictions in health care markets lead to higher prices and price dispersion? Focusing on medical imaging procedures, this paper examines the equilibrium effect of a unique statewide price transparency website. Price information leads to a shift to lower-cost providers, especially for patients subject to a deductible. Furthermore, supply-side effects play a significant role in the long run, benefiting all insured individuals. Supply-side effects reduce price dispersion and are especially relevant in concentrated markets. These effects are important given that high prices are thought to be a primary cause of high private health care spending.