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| Author: | Bradford, W. D. |
| Title: | Stochastic frontier estimation of cost models within the hospital |
| Journal: | Review of Economics and Statistics
2001 : MAY, VOL. 83:2, p. 302-309 |
| Index terms: | ESTIMATION HOSPITALS DISEASE |
| Language: | eng |
| Abstract: | This paper evaluates two technologies used to treat coronary artery disease. The authors estimate two separate stochastic frontier models-one for balloon angioplasty patients and one for cardiac bypass surgery patient - using data taken from detailed chart and cost files of a large urban hospital. Cost estimates for the two technologies are purged of inefficiency so that forecasts of the cost consequences of technology shift can be based on "best- practice" production techniques. Learning behavior, physician effects, and patient clinical characteristics are also taken into account. The authors find that there are potential cost savings associated with making angioplasty a more perfect substitute for bypass surgery, as well as current inefficiency in production. |
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