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SUMMARY:Emergency Department Reimbursement -- An application of yardstick 
 competition for service systems - Professor Nicos Savva\,  Associate Profe
 ssor of Management Science and Operations at the London Business school
DTSTART:20160308T123000Z
DTEND:20160308T133000Z
UID:TALK64979@talks.cam.ac.uk
CONTACT:Crystal
DESCRIPTION:Yardstick competition is a regulatory scheme for local monopol
 ists (e.g.\, hospitals)\, where the monopolists’ reimbursement is linked
  to its performance relative to other monopolists. This regulatory scheme 
 is known to work well in providing cost-reduction incentives and offers th
 e theoretical underpinnings behind the hospital DRG-based reimbursement sy
 stem used throughout the world. This work investigates how yardstick compe
 tition performs in service systems (e.g.\, hospital emergency departments)
 \, where in addition to reducing cost the regulator’s goal is to reduce 
 waiting times. We show that the usual form of yardstick competition create
 s too long waiting times by failing to incentivise sufficient capacity inv
 estment\, and discuss how it can be appropriately modified to achieve this
  goal. This is joint work with Tolga Tezcan and Ozlem Yildiz. 
LOCATION:Cambidge Judge Business School\,  W2.02
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