Table 6

Associations between Physician Health Management Skills and Cardiovascular Disease Hospitalization Expenditures

	Outcome: Ln (CVD-Related Hospital Expenditure)
	(1)	(2)	(3)
Panel A: No Patient Fixed Effects
HMS	−0.317^***	−0.421^**	−0.355^***
(×100)	(0.107)	(0.196)	(0.133)
Observations	340,419	85,115	80,401
R-squared	0.057	0.062	0.058
Panel B: Including Patient Fixed Effects
HMS	−0.275^***	−0.359^**	−0.255^**
(×100)	(0.0919)	(0.156)	(0.126)
Observations	340,419	85,115	80,401
Mean hosp. exp. (1,000 DKK)	4.05	4.85	5.03
R-squared	35%	37%	35%
Year FE	Yes	Yes	Yes
Region	Yes	Yes	Yes
Ind. cov.	Yes	Yes	Yes
Comorbidities	Yes	Yes	Yes
Sample	All shifters	Residential	Clinic closures

Notes: The table only includes observations for t = {–2, 0–2} for individuals who are separated from their physician before t = 0. Linear regression models. Standard errors are clustered at clinic level. Robust standard errors in parentheses, clustered on the clinic level. ^*p < 0.1, ^**p < 0.05, ^***p < 0.01.