Rethinking Frameworks in the Life Sciences: Perspectives from Real Estate and Precision Medicine

Joel Marcus, Executive Chairman and Founder of Alexandria Real Estate Equities, and Liz O’Day, CEO and Founder of Olaris Therapeutics, discuss how collaboration across stakeholders can enhance innovation in the life sciences.Read More

Regulating Innovation with Uncertain Quality: Information, Risk, and Access in Medical Devices

Working Papers

We study the impact of regulating product entry and quality information requirements on an oligopoly equilibrium and consumer welfare. Product testing can reduce consumer uncertainty, but also increase entry costs and delay entry. Read More

Physician Organization and Incentives in Childbirth: Evidence from Physician Practice Management Companies

Working Papers

This paper studies a growing form of medical practice consolidation: the Physician Practice Management Company (PPMC). Over 60,000 physicians have joined PPMCs to increase their collective market power and leverage economies of scale. Read More

The Impact of Patient Centered Medical Homes on Medication Adherence

Published Research

Accreditation of providers helps resolve the pervasive information asymmetries in health care markets. However, meeting accreditation standards typically involves flexibility in implementation, leading to heterogeneity in performance. Read More

Physician-Industry Interactions: Persuasion and Welfare

Working Papers

In markets where consumers seek expert advice regarding purchases, firms seek to influence experts, raising concerns about biased advice. Assessing firm-expert interactions requires identifying their causal impact on demand, amidst frictions like market power. Read More

The Role of Pharmacy Benefit Managers in Driving Pharmaceutical Prices and Utilization

Funded Research Proposal

The business model of Pharmacy Benefit Managers (PBMs) has evolved dramatically over the last few decades from basic insurance claims processors to becoming one of the key drivers of pharmaceutical pricing and utilization in the U.S. PBMs are the “middlemen” between insurers and drug manufacturers.Read More

The Economics of Patient-Centered Care

Published Research

The Patient-Centered Medical Home (PCMH) is a widely-implemented model for improving primary care, emphasizing care coordination, information technology, and process improvements. However, its treatment as an undifferentiated intervention obscures meaningful variation in implementation. Read More