Patient risk taking and spending habits correlate with willingness to pay for novel total joint arthroplasty implants.
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.
Department of Orthopaedic Surgery, University of California, Irvine Medical Center, Orange, CA, USA.
Ran
R
Schwarzkopf
Department of Orthopaedic Surgery, University of California, Irvine Medical Center, Orange, CA, USA.
Timothy L
TL
Kahn
Co-payment; Risk taking behavior; Shared cost; Spending habits; Willingness to pay