Description:

Speaker: Hyein Cho

Title: "Value of Long-Term Care: Facility vs. Home"

Abstract: “I quantify and compare value of two approaches to long-term care: facility-based care and home-based care. In order to control for patients' selection into different types of care, I exploit a natural experiment in the South Korean national long term care insurance scheme and its detailed administrative data. I find that facility-based care increases mortality by 8 percentage points (baseline mortality rate is 30%), and the effect is larger for individuals who previously had access to informal care. On the other hand, home-based care reduces medical care usage without sacrificing individuals' health outcomes.”