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Patient risk taking and spending habits correlate with willingness to pay for novel total joint arthroplasty implants.

ABSTRACT: In this study, we compare patients' risk-taking and spending behaviors to their willingness to pay (WTP) for novel implants in a joint arthroplasty. 210 patients were surveyed regarding risk-taking and spending behavior, and WTP for novel implants with either increased-longevity, increased-longevity with higher risk of complications, or decreased risk of complications compared to a standard implant. Patients with increased recreational risk-taking behavior were more WTP for increased-longevity. Patients who "rarely" take health-risks were more WTP for decreased risk of complications. Patients with higher combined risk scores were more WTP for all novel implants. Patients who paid more than $50,000 for their current car were more WTP for decreased complications. This study shows that patients' risk taking and spending behavior influences their WTP for novel implants.

SUBMITTER: Schwarzkopf R

PROVIDER: S-EPMC4926826 | biostudies-other | 2015 Mar

REPOSITORIES: biostudies-other

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Patient risk taking and spending habits correlate with willingness to pay for novel total joint arthroplasty implants.

Schwarzkopf Ran R Kahn Timothy L TL

Arthroplasty today 20150320 1

In this study, we compare patients' risk-taking and spending behaviors to their willingness to pay (WTP) for novel implants in a joint arthroplasty. 210 patients were surveyed regarding risk-taking and spending behavior, and WTP for novel implants with either increased-longevity, increased-longevity with higher risk of complications, or decreased risk of complications compared to a standard implant. Patients with increased recreational risk-taking behavior were more WTP for increased-longevity. ...[more]

PMID: 28326362

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