Table 1

Overall effect of the zero-mark-up medicines policy (2012–2020)

ModelMeasurement
(yit)
Observations (n)Coefficient
(λ)
Cluster-robust SEP value
Pooled regression model (model 1)Proportionate medicines revenue1210−0.09160.0058<0.001
Proportionate medical service revenue12100.08860.0064<0.001
Proportionate government subsidy revenue12100.00300.00400.452
Hospital-level fixed-effect model (model 2)Proportionate medicines revenue1210−0.09120.0057<0.001
Proportionate medical service revenue12100.08790.0063<0.001
Proportionate government subsidy revenue12100.00330.00390.398
Two-way fixed-effect model (model 3)Proportionate medicines revenue1210−0.03230.0086<0.001
Proportionate medical service revenue12100.03480.00980.001
Proportionate government subsidy revenue1210−0.00250.00760.740