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Related Experiment Videos

Physicians' responses to Medicare fee schedule reductions.

J M Mitchell1, J Hadley, D J Gaskin

  • 1Georgetown Public Policy Institute, Georgetown University, Washington, DC 20007, USA. mitchejm@gunet.georgetown.edu

Medical Care
|October 6, 2000
PubMed
Summary

Physicians

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Area of Science:

  • Health Economics
  • Medical Practice Management
  • Physician Economics

Background:

  • Limited empirical research exists on physician responses to Medicare Fee Schedule changes.
  • Understanding physician behavior is crucial for healthcare policy and resource allocation.

Purpose of the Study:

  • To evaluate profit-maximizing and target-income theories in physician supply responses.
  • To analyze the impact of Medicare fee reductions on ophthalmologists and orthopedic surgeons.

Main Methods:

  • Pooled cross-section time series analysis of Medicare claims data (1991-1994).
  • Estimation of supply functions for cataract extractions and major joint procedures.

Main Results:

  • Fee reductions significantly impact physician supply decisions, with substitution effects dominating income effects for cataract surgeries.
  • Orthopedic surgeons' supply of joint procedures decreases as fees decline.
  • Income effect variables showed unexpected signs for joint procedures, though small in magnitude.

Conclusions:

  • The Medicare Fee Schedule can influence physician supply decisions.
  • The impact of fee changes varies across medical specialties and specific services.

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