Abstract
The concept of 'value' typically includes a combination of cost and quality measures. Some approaches to incorporating value into payment systems treat cost and quality as separate dimensions, but policymakers have expressed interest in a single scalar index that combines cost and quality. Treating risk-adjusted cost as an input and multiple measures of quality as outputs, we examine whether data envelopment analysis input efficiency is associated with higher quality and lower cost in a sample of physician practices using 2008 US Medicare claims data from Colorado. The findings suggest that input efficiency might provide a useful scalar measure of value for a value-based payment system for physician services.
Original language | English (US) |
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Pages (from-to) | 1465-1480 |
Number of pages | 16 |
Journal | Health Economics (United Kingdom) |
Volume | 23 |
Issue number | 12 |
DOIs | |
State | Published - Dec 1 2014 |
Bibliographical note
Publisher Copyright:Copyright © 2013 John Wiley & Sons, Ltd. Copyright © 2013 John Wiley & Sons, Ltd.
Keywords
- cost
- data envelopment analysis
- payment
- quality
- value