Table 5 Panel regression for medical expenses

Total amount of medical equipment worth over 1 million yuan

0.000

(0.001)

0.000**

(0.000)

0.004

(0.017)

0.008

(0.019)

0.001

(0.001)

Number of beds

0.000

(0.000)

0.000

(0.000)

0.001

(0.002)

− 0.005*

(0.002)

0.000*

(0.000)

Government’s financial investment/total hospital revenue

− 0.001

(0.031)

− 0.026*

(0.016)

1.519

(1.013)

− 0.350

(1.136)

0.003

(0.068)

GDP per capita in the district

0.000

(0.000)

0.000

(0.000)

− 0.000

(0.000)

0.000

(0.000)

0.000

(0.000)

Aging rate (over age 60) in the district

− 4.402

(6.963)

− 2.434

(1.578)

17.065

(158.525)

− 52.389

(151.848)

− 1.996

(6.302)

Healthcare market competition in the district

0.067***

(0.015)

0.009

(0.008)

0.492

(0.501)

0.415

(0.571)

− 0.015

(0.034)

Hospital type

− 0.185

(0.114)

− 0.044*

(0.025)

9.194***

(2.360)

3.014

(2.186)

0.557***

(0.132)

Hospital grade

0.269**

(0.118)

0.014

(0.026)

4.781***

(2.491)

5.159**

(2.319)

0.428***

(0.133)

Cons

0.689***

(0.252)

0.285***

(0.057)

2.552

(5.682)

6.107

(5.423)

0.813***

(0.232)

Level 3—District

 Cons

− 1.905***

(0.457)

− 3.313***

(0.384)

1.348***

(0.364)

1.342***

(0.348)

− 1.536***

(0.276)

Level 2—Hospital

 Cons

− 0.927***

(0.099)

− 2.550***

(0.112)

2.061***

(0.107)

1.954***

(0.108)

− 0.784***

(0.100)

Level 1—Year

 Cons

− 2.118***

(0.046)

− 2.737***

(0.046)

1.393***

(0.046)

1.526***

(0.046)

− 1.294***

(0.046)

N

300

300

300

300

300