Decision Sciences
8 years ago

Panel data reveals significant cost inefficiencies in Japanese hospitals.

Applied Economics Letters
Stochastic cost frontier and cost inefficiency of Japanese hospitals: a panel data analysis
ATSUSHI FUJ, Makoto Ohta

Paper Summary

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The study looked at how the estimates of cost efficiency in Japanese hospitals change when using panel data and considering hospital-specific differences. Three models were used to analyze the data: one with a hospital-specific intercept for panel data, one without the intercept for panel data, and one treating the data as cross-sectional. The results showed that using panel data significantly affects the estimate of cost inefficiency compared to cross-sectional data. Additionally, the intercept of the cost frontier varies significantly among hospitals.