We thank Julie Holland Mortimer, Amalia Miller, Federico Ciliberto, Tim Layton, Christopher Adams, Maura Coughlin, Ashvin Gandhi, Sylvia Hristakeva, Catherine Ishitani, Alex MacKay, Luca Maini, Loren Smith, Amanda Starc, Zarek Brot-Goldberg, Stacie Dusetzina, Gretchen Jacobson, Faith Leonard and seminar participants at the American Society of Health Economics Annual Meeting, AcademyHealth Annual Research Meeting, the Congressional Budget Office, the Southeastern Health Economics Study Group, the University of Virginia, and the Washington University in St. Louis for valuable discussions and comments. We thank Christie Lee Luo and Swayami Navangul for excellent research assistance. This paper combines work from Yde (“Vertical Integration and Regulated Profits in Pharmacy Benefits Markets”) that was initially conducted in parallel with that of Kakani, Kanter, Frank, and Bond. Kakani, Frank, and Bond acknowledge funding support from the Commonwealth Fund, Kakani acknowledges funding support from the National Institute on Aging (1K01AG092905), Frank acknowledges funding support from Arnold Ventures, and Yde acknowledges funding support from the Jefferson Scholars Foundation and the Bankard Fund for Political Economy at the University of Virginia for this work. The content is solely the responsibility of the authors. This research was approved by the Institutional Review Board of Weill Cornell Medical College. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.
Pragya Kakani
Dr. Kakani also reports receiving research funding unrelated to this work from the following government and non-profit entities: National Cancer Institute, National Institute Aging, the Centers for Disease Control and Prevention, Arnold Ventures, The National Institute for Health Care Management, the Peterson Center on Healthcare, and The Physicians Foundation.
Amelia M. Bond
1. I received financial support from the Commonwealth Fund for this work.
2. I have received funding support for unrelated research from the following government and non-profit entities in the past three years: the Agency for Healthcare Research and Quality, Defense Health Agency, Arnold Ventures, and The Physicians Foundation. I have received personal fees from Williams & Connolly LLP unrelated to the submitted work.
3. I am not an officer, director, or board member of any relevant non-profit organizations or profit-making entities.
4. None of my close relatives have received any financial support for my work on this paper. None of my close relatives have received any financial support in the past three years from a party that would have a financial, ideological, or political stake in this paper. None of my close relatives are an officer, director, or board member in a profit or non-profit organization that has a relevant relationship to the contents of this paper.
5. No party had the right to review this paper prior to its release. However, early versions of the paper were shared with the individuals listed in the acknowledgments, for feedback.
