Journal Article: Time Is Money: Outpatient Waiting Times and Health Insurance Choices of Elderly Veterans in the United States

Journal of Health Economics
Vol. 30, No. 4
May 2011
Pizer, D. and J. Prentice
pp. 626-636

Growth in the number of days between an appointment request and the actual appointment reduces demand. Although such waiting times are relatively low in the US, current policy initiatives could cause them to increase. We estimate multiple-equation models of physician utilization and insurance plan choice for Medicare-eligible veterans. We find that a 10% increase in VA waiting times increases demand for Medigap insurance by 5%, implying that a representative patient would be indifferent between waiting an average of 5 more days for VA appointments and paying $300 more in annual premium.

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