The Impact of direct-to-consumer advertising on health insurance markets

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      <subfield code="a">The Impact of direct-to-consumer advertising on health insurance markets</subfield>
      <subfield code="c">William Encinosa...[et.al]</subfield>
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      <subfield code="a">Direct-to-consumer advertising (DTCA) for drugs has increased from US$200 million in 1997 to US$4 billion in 2011. While studies show that DTCA impacts the patient-physician relationship, little is known of the effect of DTCA on health insurance markets. We test whether DTCA raises the costs in these markets or makes the markets more efficient in drug pricing. Across 212 markets, we examine the impact of DTCA on insurers' negotiated prices for 166 drugs. Controlling for unobserved pharmacy and pharmacy benefit manager attributes, as well as manufacturer advertising market selection effects, we find that an increase in a manufacturer's DTCA spending lowers insurer prices and reduces insurance market price dispersion. These competitive effects intensify as DTCA competition increases between drug manufacturers.</subfield>
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      <subfield code="a">Seguro de asistencia sanitaria</subfield>
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      <subfield code="a">Empresas de seguros</subfield>
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      <subfield code="t">Geneva papers on risk and insurance : issues and practice</subfield>
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      <subfield code="g">06/10/2014 Volumen 39 Número 4 - octubre 2014 , p. 749-767</subfield>
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