Differences In Financial Outcomes Research Articles

Association of Medicare Advantage Enrollment With Financial Burden of Care : A Retrospective Cohort Study.

Compared with traditional Medicare (TM), Medicare Advantage (MA) plans typically offer supplemental benefits and lower copayments for in-network services and must include an out-of-pocket spending limit. To examine whether the financial burden of care decreased for persons switching from TM to MA (TM-to-MA switchers) relative to those remaining in TM (TM stayers). Retrospective longitudinal cohort study comparing changes in financial outcomes between TM-to-MA switchers and TM stayers. Population-based. 7054 TM stayers and 1544 TM-to-MA switchers from the Medical Expenditure Panel Survey, 2014 to 2021. Individual health care costs (out-of-pocket spending and cost sharing), financial burden (high and catastrophic), and subjective financial hardship (difficulty paying medical bills, paying medical bills over time, and inability to pay medical bills). Compared with TM stayers, TM-to-MA switchers had small differences in out-of-pocket spending ($168 [95% CI, -$133 to $469]) and proportions of total health expenses paid out of pocket (cost sharing) (0.2 percentage point [CI, -1.3 to 1.7 percentage points]), families with out-of-pocket spending greater than 20% of their income (high financial burden) (0.3 percentage point [CI, -2.5 to 3.0 percentage points]), families reporting out-of-pocket spending greater than 40% of their income (catastrophic financial burden) (0.7 percentage point [CI, -0.1 to 1.6 percentage points]), families reporting paying medical bills over time (-0.2 percentage point [CI, -1.7 to 1.4 percentage points]), families having problems paying medical bills (-0.4 percentage point [CI, -2.7 to 1.8 percentage points]), and families reporting being unable to pay medical bills (0.4 percentage point [CI, -1.3 to 2.0 percentage points]). Inability to account for all medical care and cost needs and variations across MA plans, small baseline differences in out-of-pocket spending, and potential residual confounding. Differences in financial outcomes between beneficiaries who switched from TM to MA and those who stayed with TM were small. Differences in financial burden ranged across outcomes and did not have a consistent pattern. The National Research Foundation of Korea.

Differences in financial outcomes for family and nonfamily farms

PurposeNonfamily farms are responsible for a disproportionate amount of US agriculture production. The importance of these operations to the volume of agriculture production in the United States has led researchers and policymakers to understand nonfamily farms as large commercial operations. This paper examines whether the distinction between family and nonfamily helps explain the financial outcomes of farm operations and households.Design/methodology/approachWe test for differences in financial outcomes of the household and operations of family and nonfamily farms using an Oaxaca-Blinder decomposition. We compare these results to a decomposition of other possible typologies.FindingsWe present evidence that nonfamily farms are a heterogeneous group with a majority of small operations that are dominated by a small number of large operations. We discover that differences associated with the family-nonfamily distinction are largely explained by observable farm and operator characteristics that arise mechanically from the definition. However, we find suggestive evidence that family-nonfamily classification captures differences in economic behavior that lead to higher profitability measures to nonfamily farms. We find little evidence of any inherent structural differences between family and nonfamily farms that helps explain financial outcomes related to leverage or household finances.Practical implicationsWe conclude that including nonfamily farms in official statistics of farm households may provide a more comprehensive overview of the farm sector, as our results suggest that family and nonfamily farms do not have innate differences that help explain many of their financial outcomes.Originality/valueWe incorporate previously unused data on nonfamily farm households and test the difference in mean financial outcomes between family and nonfamily farms.

Characteristics of Online Crowdfunding Campaigns for Urological Cancers in the United States.

We examined the characteristics and financial outcomes of online crowdfunding campaigns for patients with major urological cancers in the U.S. This cross-sectional study analyzed publicly available data from GoFundMe, the largest online medical crowdfunding service, via automated web scraping. Online campaigns from 2010 to 2018 with the following primary cancer types were included: kidney, prostate, bladder and testicular. Financial outcomes were compared using Kruskal-Wallis and Wilcoxon rank-sum tests. Multivariable analyses were utilized to identify predictors of campaign financial outcomes. Kidney cancers were the most frequent online campaign type (478), followed by prostate (379), bladder (202) and testicular (175) malignancies. Urological cancer campaign recipients frequently requested funding for medical expenses (71%) during active treatment (57%). After adjustment, testicular cancer and children's cancer campaigns generated more donations than other urological and adult cancer campaigns (p <0.05). Family and friend-authored campaigns generated more donations and average donation amounts than self-authored campaigns (p <0.05). Campaign narratives focused on disheartening circumstances received fewer donations than narratives focused on the recipient's high moral character or contributions to society (p <0.05), and unclear narratives received the smallest donation amounts (p <0.05). Urological cancer crowdfunding in the U.S. is primarily used to finance uncovered costs associated with medical care during active treatment. Crowdfunding financial outcomes are likely related to the campaign recipient's age, malignancy type, social network and primary appeal of the narrative. Urologists should be aware of trends in medical crowdfunding in order to better understand the financial burden this patient population faces.

African American Financial Socialization

Financial socialization, or who and how individuals were influenced financially, while growing up, has an impact on their current financial literacy and well-being. Little is known about African Americans’ financial socialization, so this study explored their financial socialization through the best and brightest of the community-educated African Americans; and then determine if the way in which they were socialized has an impact on their financial knowledge. The African American community is a heterogeneous community and differences in education levels would probably produce differences in financial outcomes. Primary data and 2015 FINRA survey data were used in this study. This study found that participants’ top three financial influences were parents, followed by life experiences, and then formal influences. Furthermore, those who were financial socialization by self-directed influences were more likely to be more financially knowledgeable than those who were financially socialized by other informal influences.

Single center cost analysis of single-port and conventional laparoscopic surgical treatment in colorectal malignant diseases.

Single-port laparoscopy (SPL) is a relatively new technique, used in various procedures. There is limited knowledge about the cost effectiveness and the learning curve of this technique. The primary aim of this study was to compare hospital costs between SPL and conventional laparoscopic resections (CLR) for colorectal cancer; the secondary aim was to identify a learning curve of SPL. All elective colorectal cancer SPL and CLR performed in a major teaching hospital between 2011 and 2012 that were registered in the Dutch Surgical Colorectal Audit were included (n=267). The economic evaluation was conducted from a hospital perspective, and costs were calculated using time-driven activity-based costing methodology up to 90days after discharge. When looking at SPL only, the introduction year (2011) was compared to the next year (2012). SPL (n=78) was associated with lower mortality, lower reintervention rates, and more complications as compared to CLR (n=189); however, none of these differences were statistically significant. A significant shorter operating time was seen in the SPL. Total costs were higher for SPL group as compared to CLR; however, this difference was not statistically significant. For the SPL group, most clinical outcomes improved between 2011 and 2012; moreover, total hospital costs for SPL in 2012 became comparable to CLR. No significant differences in financial outcomes between SPL and CLR were identified. After the introduction period, SPL showed similar results as compared to CLR. Conclusions are based on a small single-port group and the conclusions of this manuscript should be an impetus for further research.

Ethnic Differences in Financial Outcomes Among Low-Income Older Asian Immigrants: A Financial Capability Perspective

ABSTRACTThis exploratory study examined ethnic differences in financial outcomes among low-income older Asian immigrants from a financial capability perspective. We used survey data collected from a convenience sample of Chinese, Korean, and “Other Asian” ethnic participants in a subsidized employment program (n = 159). We ran logit regressions of dichotomous financial outcomes. Regression analysis showed significant ethnic differences in some financial outcomes after controlling for financial capability and other factors. Findings did not support our hypothesis that financial capability explains ethnic differences in financial outcomes. Findings suggest the need to develop culturally suitable financial capability measures for future research.

Family Financial Socialization: Theory and Critical Review

Financial literacy research of the past 40 years (1970–2010) has largely ignored the reasons for sociodemographic differences in financial outcomes. The primary purpose of this paper is to initiate a theoretical discussion regarding family financial socialization—what it is; why it is important; and how its tenets could help advance understanding of individual differences in financial literacy. To this end, we propose a conceptual model that integrates family socialization theory and recent trends in financial literacy research. The study concludes with an interdisciplinary critical review of 100 articles which provide illustrations, highlight gaps, and present opportunities for further research with many practical guidelines for advancing deeper understanding of financial literacy from a socialization perspective.

To mediate or not to mediate: Financial outcomes in mediated versus adversarial divorces

AbstractA statewide sample of 199 mediated and 201 adversarial divorce cases in Connecticut was analyzed for differences in financial outcomes between the two formats. No differences were found between mediated and adversarial cases in family income or liability outcomes for women, in likelihood of periodic alimony being received, or in amount of alimony received. However, women in mediated cases obtained a significantly greater percentage of assets than women in adversarial cases, periodic alimony for a significantly longer duration, and significantly more child support. Adversarial cases had significantly more postjudgment modifications and took longer from complaint to judgment.