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  • Title: Health insurance and the demand for medical care: evidence from a randomized experiment.
    Author: Manning WG, Newhouse JP, Duan N, Keeler EB, Leibowitz A, Marquis MS.
    Journal: Am Econ Rev; 1987 Jun; 77(3):251-77. PubMed ID: 10284091.
    Abstract:
    We estimate how cost sharing, the portion of the bill the patient pays, affects the demand for medical services. The data come from a randomized experiment. A catastrophic insurance plan reduces expenditures 31 percent relative to zero out-of-pocket price. The price elasticity is approximately -0.2. We reject the hypothesis that less favorable coverage of outpatient services increases total expenditure (for example, by deterring preventive care or inducing hospitalization).
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