@techreport{NBERw13747,
 title = "Managed Care and Medical Expenditures of Medicare Beneficiaries",
 author = "Michael Chernew and Philip DeCicca and Robert Town",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "13747",
 year = "2008",
 month = "January",
 URL = "http://www.nber.org/papers/w13747",
 abstract = {This paper investigates the impact of Medicare HMO penetration on the medical care expenditures incurred by Medicare fee-for-service enrollees. We find that increasing penetration leads to reduced health care spending on fee-for-service beneficiaries. In particular, a one percentage point increase in Medicare HMO penetration reduces such spending by .9 percent. We estimate similar models for various measures of health care utilization and find penetration-induced reductions, consistent with our spending estimates. Finally, we present evidence that suggests our estimated spending reductions are driven by beneficiaries who have at least one chronic condition.},
}