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Stress Testing Cardiac Care Markets through Deregulation / Daniel R. Arnold, Michael R. Richards, Yashaswini Singh, Christopher M. Whaley.
- Format:
- Book
- Author/Creator:
- Arnold, Daniel R.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w35645.
- NBER working paper series no. w35645
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2026.
- Summary:
- The diffusion of technological innovation depends on incentives, regulations, and firms' strategic behaviors. We study these intersections within cardiac procedure markets following Medicare's expansion of non-hospital facility options for treatment, enabled by clinical advancements. State-level regulations restrain federal pro-competition policy. Where market entry occurs, business stealing is concentrated among the lowest cost treatment settings, rather than high-cost hospitals--increasing Medicare spending by approximately $2.5 million. Medicare policy also generates externalities for untargeted procedures and other payers, except when hospitals and physicians are vertically integrated. Federal rulemaking interacts with and is mitigated by complex market dynamics--including in potentially unanticipated ways.
- Notes:
- August 2026.
- Print version record
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