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Psychiatric Hospital Ownership and Performance: Do Nonprofit Organizations Offer Advantages in Markets Characterized by Asymmetric Information?

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  • Tami L. Mark

Abstract

Nonprofit organizations have been hypothesized as being preferable to for-profit organizations in markets characterized by asymmetric information, such as the market for mental health care services. This paper empirically examines whether ownership affects the quality of private psychiatric hospital care. A quality deviation function and a frontier cost function are specified and estimated using data on psychiatric hospitals in California for the years 1984-1989. The results suggest that nonprofit hospitals may provide protection against asymmetric information relative to their for-profit counterparts. No difference in efficiency was found by ownership.

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  • Tami L. Mark, 1996. "Psychiatric Hospital Ownership and Performance: Do Nonprofit Organizations Offer Advantages in Markets Characterized by Asymmetric Information?," Journal of Human Resources, University of Wisconsin Press, vol. 31(3), pages 631-649.
    • Handle: RePEc:uwp:jhriss:v:31:y:1996:i:3:p:631-649
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    Cited by:

    1. Paul A. Grout & Michelle J. Yong, 2003. "The Role of Donated Labour and Not for Profit at the Public/Private Interface," The Centre for Market and Public Organisation 03/074, The Centre for Market and Public Organisation, University of Bristol, UK.
    2. Boyce, John R. & Hollis, Aidan, 2005. "Governance of electricity transmission systems," Energy Economics, Elsevier, vol. 27(2), pages 237-255, March.
    3. Daniel Kessler & Mark McClellan, 2001. "The Effects of Hospital Ownership on Medical Productivity," NBER Working Papers 8537, National Bureau of Economic Research, Inc.
    4. Na-Eun Cho & Yue Maggie Zhou, 2021. "Profits, Reputation, and the Risk of Medical Malpractice Liability," Strategy Science, INFORMS, vol. 6(3), pages 228-243, September.
    5. Susan F. Lu, 2016. "The Role of Donations in Quality Disclosure: Evidence from Nonprofit Nursing Homes Full Access," American Journal of Health Economics, MIT Press, vol. 2(4), pages 431-462, Fall.
    6. Anup Malani & Tomas Philipson & Guy David, 2003. "Theories of Firm Behavior in the Nonprofit Sector. A Synthesis and Empirical Evaluation," NBER Chapters, in: The Governance of Not-for-Profit Organizations, pages 181-216, National Bureau of Economic Research, Inc.
    7. Ettner, Susan L. & Hermann, Richard C., 2001. "The role of profit status under imperfect information: evidence from the treatment patterns of elderly Medicare beneficiaries hospitalized for psychiatric diagnoses," Journal of Health Economics, Elsevier, vol. 20(1), pages 23-49, January.
    8. Krieg, Randall G., 2002. "The need for policy direction in the provision of care to the mentally ill: an interdisciplinary view," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 31(2), pages 105-113.
    9. Eric Christensen & Richard Arnould, 2005. "The Impact of Asymmetric Information and Ownership on Nursing Home Access," International Journal of Health Economics and Management, Springer, vol. 5(3), pages 273-297, September.

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