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An Alternative Model for Analyzing the Physician-Hospital Relationship in Rural Areas

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  • Fannin, James Matthew
  • Barnes, James N.

Abstract

We introduce a modeling framework called Transaction Cost Economics to help decision makers in rural health care markets choose among alternative organizational relationships in order to more cost-effectively deliver healthcare services. In particular, the hospital-physician relationship is analyzed and the transactional attributes, institutional environment, and market characteristics are identified as key variables influencing the organizational relationship between hospital and physician. As asset specfic investments are made by either the hospital or physician, vertically integrated relationships are more likely to occur. The degree of remoteness of rural areas is also considered to affect the impact of these asset-specific investments.

Suggested Citation

  • Fannin, James Matthew & Barnes, James N., 2006. "An Alternative Model for Analyzing the Physician-Hospital Relationship in Rural Areas," 2006 Annual Meeting, February 5-8, 2006, Orlando, Florida 35255, Southern Agricultural Economics Association.
    • Handle: RePEc:ags:saeaso:35255
    DOI: 10.22004/ag.econ.35255
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    References listed on IDEAS

    as
    1. Lyons, Bruce R., 1995. "Specific investment, economies of scale, and the make-or-buy decision: A test of transaction cost theory," Journal of Economic Behavior & Organization, Elsevier, vol. 26(3), pages 431-443, May.
    2. Martin Gaynor & James B. Rebitzer & Lowell J. Taylor, 2004. "Physician Incentives in Health Maintenance Organizations," Journal of Political Economy, University of Chicago Press, vol. 112(4), pages 915-931, August.
    3. Edelman, Mark & Menz, Brian, 1996. "Selected Comparisons and Implications of a National Rural and Urban Survey on Health Care Access, Demographics and Policy Issues," Staff General Research Papers Archive 5267, Iowa State University, Department of Economics.
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