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An econometric study of costs of teaching and research in Finnish hospitals

✍ Scribed by Miika Linna; Unto Häkkinen; Eero Linnakko

Publisher
John Wiley and Sons
Year
1998
Tongue
English
Weight
109 KB
Volume
7
Category
Article
ISSN
1057-9230

No coin nor oath required. For personal study only.

✦ Synopsis

In this study we used stochastic frontier cost functions to estimate the teaching and research costs of Finnish hospitals. Average and marginal cost estimates were used to evaluate the current reimbursement system as well as to calculate the total expenditure on teaching and research in hospitals. The efficiency adjustment had significant impact on the marginal and average cost estimates of the teaching and research output.

The main policy implication of this study is that university teaching hospitals are able to produce both teaching and research output at significantly lower marginal and average incremental costs than other hospitals. According to our results 55% of the total state reimbursement budget for teaching and research (FIM 665 million) should be allocated to teaching and 45% to research.

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