Returns to Physician Human Capital: Analyzing Patients Randomized to Physician Teams
AbstractPatient sorting can confound estimates of the returns to physician human capital. This paper compares nearly 30,000 patients who were randomly assigned to clinical teams from one of two academic institutions. One institution is among the top medical schools in the country, while the other institution is ranked lower in the quality distribution. Patients treated by the two teams have identical observable characteristics and have access to a single set of facilities and ancillary staff. Those treated by physicians from the higher-ranked institution have 10-25% shorter and less expensive stays than patients assigned to the lower-ranked institution. Health outcomes are not related to the physician team assignment, and the estimates are precise. Procedure differences across the teams are consistent with the ability of physicians in the lower-ranked institution to substitute time and diagnostic tests for the faster judgments of physicians from the top-ranked institution.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 14174.
Date of creation: Jul 2008
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Note: AG HC HE LS
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Find related papers by JEL classification:
- I12 - Health, Education, and Welfare - - Health - - - Health Production
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-07-30 (All new papers)
- NEP-HEA-2008-07-30 (Health Economics)
- NEP-HRM-2008-07-30 (Human Capital & Human Resource Management)
- NEP-LAB-2008-07-30 (Labour Economics)
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