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The Time Price of Medical Care

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  • Cauley, Stephen Day
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    Abstract

    An econometric mod el is used to impute the value of time in the demand for medical care for member s of a prepaid group practice medical care program. Separate estimates are obtai ned for: (1) individuals who were employed full time, (2) housewives, and (3) ti me associated with taking children to a doctor. For individuals who were employe d full time, the estimate was close to the median wage rate. Sick leave was esti mated to substantially reduce the value of time. It was concluded that ignoring the time price of medical care may result in misleading statistical analysis and mistaken policy recommendations. Copyright 1987 by MIT Press.

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    Bibliographic Info

    Article provided by MIT Press in its journal Review of Economics & Statistics.

    Volume (Year): 69 (1987)
    Issue (Month): 1 (February)
    Pages: 59-66

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    Handle: RePEc:tpr:restat:v:69:y:1987:i:1:p:59-66

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    Cited by:
    1. Bernard van den Berg & Amiram Gafni & France Portrait, 2013. "Attributing a monetary value to patients’ time: A contingent valuation approach," Working Papers 090cherp, Centre for Health Economics, University of York.
    2. Wagner, Todd H. & Hu, Teh-wei & Duenas, Grace V. & Pasick, Rena J., 2000. "Willingness to pay for mammography: item development and testing among five ethnic groups," Health Policy, Elsevier, vol. 53(2), pages 105-121, September.
    3. �scar D. Lourenço & Pedro L. Ferreira, 2005. "Utilization of public health centres in Portugal: effect of time costs and other determinants. Finite mixture models applied to truncated samples," Health Economics, John Wiley & Sons, Ltd., vol. 14(9), pages 939-953.
    4. Angulo, Ana María & Barberán, Ramón & Egea, Pilar & Mur, Jesús, 2011. "An analysis of health expenditure on a microdata population basis," Economic Modelling, Elsevier, vol. 28(1-2), pages 169-180, January.
    5. Jaume Puig & Marc Sáez & Esther Martínez Garcia, 1998. "Health care provider choice in the case of patient-initiated contacts. An extended version of discrete choice of model demand," Working Papers, Research Center on Health and Economics 308, Department of Economics and Business, Universitat Pompeu Fabra.
    6. Wagner, Todd H. & Hu, Teh-wei & Hibbard, Judith H., 2001. "The demand for consumer health information," Journal of Health Economics, Elsevier, vol. 20(6), pages 1059-1075, November.
    7. Erlyana, Erlyana & Damrongplasit, Kannika Kampanya & Melnick, Glenn, 2011. "Expanding health insurance to increase health care utilization: Will it have different effects in rural vs. urban areas?," Health Policy, Elsevier, vol. 100(2), pages 273-281.
    8. Natalia N. Borisova & Allen C. Goodman, 2003. "Measuring the value of time for methadone maintenance clients: willingness to pay, willingness to accept, and the wage rate," Health Economics, John Wiley & Sons, Ltd., vol. 12(4), pages 323-334.
    9. Philip M. Clarke, 2002. "Testing the convergent validity of the contingent valuation and travel cost methods in valuing the benefits of health care," Health Economics, John Wiley & Sons, Ltd., vol. 11(2), pages 117-127.
    10. Daniel E. Jonas & Louise B. Russell & Jon Chou & Michael Pignone, 2010. "Willingness-to-pay to avoid the time spent and discomfort associated with screening colonoscopy," Health Economics, John Wiley & Sons, Ltd., vol. 19(10), pages 1193-1211.
    11. Begoña Álvarez, 2001. "La demanda atendida de consultas médicas y servicios urgentes en España," Investigaciones Economicas, Fundación SEPI, vol. 25(1), pages 93-138, January.
    12. M. Kate Bundorf & Laurence Baker & Sara Singer & Todd Wagner, 2004. "Consumer Demand for Health Information on the Internet," NBER Working Papers 10386, National Bureau of Economic Research, Inc.
    13. Julieta Trías, 2004. "Determinantes de la Utilización de los Servicios de Salud: El caso de los niños en la Argentina," CEDLAS, Working Papers 0009, CEDLAS, Universidad Nacional de La Plata.

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