Table 2 shows the descriptive statistics of variables used in the
analysis. Our empirical analyses utilize individual hospital-level data
from 2018 to 2020 in the U.S. The final dataset includes 3,477
observations, and 78% of them are non-profit hospitals. Both hospital
quality of care and patient satisfaction are measured on a 5-point
scale, and the average points of the performance measures are 3.16 and
3.08, respectively. In our sample, about 68% hold PFACs and practice
patient engagement. The average level of physical resources in the
hospitals is about $110.7 million, and the level of financial resources
is about $833.4 million. Our analysis uses the physical and financial
resources as the logged value. The sample hospitals have an average of
0.28 physicians and dentists per bed and 2.11 registered nurses per bed.
The social and institutional resources are measured as a percentage of
the minority or non-white population in the county where each hospital
is located. Counties in our sample have an average of 22% minority
population.
Regarding other hospital characteristics, sample hospitals have 182 beds
on average, and 52% are in a minor or major teaching affiliation status
in the sample period. The hospitals have 33% and 10% of patient
discharges covered by Medicare and Medicaid programs. The community
demand for financial assistance from each hospital is measured by the
hospital’s unreimbursed and uncompensated care costs, and the average
value is about $14 million. The sample average CMI index is 1.69. Among
the community-level control variables, the total population in each
county is about 256.6 thousand people on average, and about 17% of the
population is over 65 years old. The average per capita personal income
level is $51.8 thousand. The sample counties have an average uninsured
rate of 10%. Our analysis uses community demand for hospital financial
assistance, total population, and personal income as logged values. All
variables measured in dollar amounts are converted to 2018 real value
using the Consumer Price Index (CPI) from the Bureau of Labor Statistics
(BLS).
Table 2. Descriptive Statistics