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Physicians' Risk Attitudes, Laboratory Usage, and Referral Decisions

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  • David R. Holtgrave
  • Frank Lawler
  • Stephen J. Spann

Abstract

Individual differences in physicians' laboratory use and referral rates are important aspects of practice variation that have real financial and health consequences. A way to explain these differences is needed. In this empirical study, physicians' risk attitudes (measured on a multidimensional scale) are shown to be good predictors of use rates for certain specific laboratory procedures, but not good predictors of physicians' referral rates. A 15-item survey form that measured risk-taking attitudes in the financial, health, social, and ethical domains was administered to all clinical faculty at an academic family practice center ( n = 14). Each physician's utilization rates for the 17 most frequently ordered laboratory procedures were calculated for all patient visits for one calendar year. Overall referral rates were calculated for the same period. Physicians' risk attitudes (12 completed the survey) accounted for over 50% of the variance for several of the laboratory procedures. For example, the rank-order correlation between the complete blood count utilization rate and a Likert-scale item meas uring physicians' propensity to take physical risks was 0.91 (p

Suggested Citation

  • David R. Holtgrave & Frank Lawler & Stephen J. Spann, 1991. "Physicians' Risk Attitudes, Laboratory Usage, and Referral Decisions," Medical Decision Making, , vol. 11(2), pages 125-130, June.
    • Handle: RePEc:sae:medema:v:11:y:1991:i:2:p:125-130
    DOI: 10.1177/0272989X9101100210
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    References listed on IDEAS

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    1. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    2. Stephen D. Nightingale, 1987. "Risk Preference and Laboratory Use," Medical Decision Making, , vol. 7(3), pages 168-172, August.
    3. Epstein, A.M. & Begg, C.B. & McNeil, B.J., 1984. "The effects of physicians' training and personality on test ordering for ambulatory patients," American Journal of Public Health, American Public Health Association, vol. 74(11), pages 1271-1273.
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    1. Sophie Massin & Antoine Nebout & Bruno Ventelou, 2018. "Predicting medical practices using various risk attitude measures," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 19(6), pages 843-860, July.
    2. Galizzi, Matteo M. & Miraldo, Marisa & Stavropoulou, Charitini & van der Pol, Marjon, 2016. "Doctor–patient differences in risk and time preferences: A field experiment," Journal of Health Economics, Elsevier, vol. 50(C), pages 171-182.

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