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The impact of cost-...
The impact of cost-sharing on prescription drug demand : evidence from a double-difference regression kink design
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- Gamba, Simona (author)
- University Cattolica Sacro Cuore, ITA
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- Jakobsson, Niklas, Professor, 1981- (author)
- Karlstads universitet,Handelshögskolan (from 2013)
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- Svensson, Mikael, 1980 (author)
- Gothenburg University,Göteborgs universitet,Institutionen för medicin, avdelningen för samhällsmedicin och folkhälsa,Institute of Medicine, School of Public Health and Community Medicine
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(creator_code:org_t)
- 2022-02-25
- 2022
- English.
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In: European Journal of Health Economics. - : Springer. - 1618-7598 .- 1618-7601. ; 23, s. 1591-1599
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Abstract
Subject headings
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- Pharmaceuticals represent the third-largest expenditure item in health care spending in the OECD countries, and cost growth is around 5% per year in many OECD countries. One possible way to contain the rise in pharmaceutical spending is the use of cost-sharing schemes that makes insured individuals directly bear parts of the cost of a drug. This study estimates the price sensitivity of demand for prescription drugs using data on all prescription drug purchases from a random sample of 400,000 Swedes followed from 2010 to 2013. We use a regression kink design (RKD) by exploiting the kinked Swedish cost-sharing scheme to assess the price elasticity. Further, since the cost-sharing scheme has changed over time, we also use a double-difference RKD to account for potential confounding nonlinearities around the kink. Our results indicate that the standard RKD results are biased and exaggerate the price sensitivity. Our preferred double-difference RKD specifications show no or minor price sensitivity (95% CI price elasticity from - 0.12 to 0.02). The results are similar in several sub-group analyses across age groups, sexes, and income quartiles.
Subject headings
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Economics (hsv//eng)
- MEDICIN OCH HÄLSOVETENSKAP -- Hälsovetenskap -- Hälso- och sjukvårdsorganisation, hälsopolitik och hälsoekonomi (hsv//swe)
- MEDICAL AND HEALTH SCIENCES -- Health Sciences -- Health Care Service and Management, Health Policy and Services and Health Economy (hsv//eng)
Keyword
- Cost-sharing
- Drug consumption
- Health-care
- Moral hazard
- Regression kink design
- Natural experiment
- Economics
- Nationalekonomi
Publication and Content Type
- ref (subject category)
- art (subject category)
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