Too much ado about two-part models and transformation?: Comparing methods of modeling Medicare expenditures

Many methods for modeling skewed health care cost and use data have been suggested in the literature. This paper compares the performance of eight alternative estimators, including OLS and GLM estimators and one- and two-part models, in predicting Medicare costs. It finds that four of the alternativ...

Full description

Saved in:
Bibliographic Details
Published in:Journal of health economics 2004-05, Vol.23 (3), p.525-542
Main Authors: Buntin, Melinda Beeuwkes, Zaslavsky, Alan M.
Format: Article
Language:English
Subjects:
Activities of Daily Living
Alternatives
Comparative studies
Costs
Estimators
Health
Health administration
Health care
Health care cost modeling
Health Care Costs
Health care expenditures
Health economics
Health expenditure
Health services
Humans
Mathematical models
Medical care
Medicare
Medicare - economics
Methodology
Methods
Modelling
Models, Econometric
Statistical analysis
Studies
United States
USA
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:Many methods for modeling skewed health care cost and use data have been suggested in the literature. This paper compares the performance of eight alternative estimators, including OLS and GLM estimators and one- and two-part models, in predicting Medicare costs. It finds that four of the alternatives produce very similar results in practice. It then suggests an efficient method for researchers to use when selecting estimators of health care costs.
ISSN:0167-6296
1879-1646
DOI:10.1016/j.jhealeco.2003.10.005