Relationships between VC-funded startups and health with two-way fixed effects and county population weights
| Full sample | Propensity score matched sample | |||
|---|---|---|---|---|
| Lagged # of startups | Lagged # of innovative startup | Lagged # of startups | Lagged # of innovative startups | |
| Health outcomes as dependent variables | ||||
| Percent of adults that report fair or poor health | −0.01** (0.00) | −0.06** (0.03) | −0.00 (0.01) | −0.06 (0.04) |
| No. of observations | 12557 | 12557 | 1488 | 1488 |
| R2 | 0.67 | 0.67 | 0.72 | 0.72 |
| Avg. no. of physically unhealthy days per month | 0.00* (0.00) | 0.00 (0.01) | 0.00** (0.00) | −0.00 (0.00) |
| No. of observations | 12557 | 12557 | 1488 | 1488 |
| R2 | 0.67 | 0.67 | 0.76 | 0.76 |
| Avg. no. of mentally unhealthy days per month | −0.00* (0.00) | −0.00 (0.00) | −0.00 (0.00) | −0.00 (0.01) |
| No. of observations | 12557 | 12557 | 1488 | 1488 |
| R2 | 0.85 | 0.85 | 0.85 | 0.85 |
| Pct. adults aged 20 and above with diabetes | −0.02*** (0.00) | −0.06*** (0.02) | −0.01*** (0.00) | −0.04** (0.02) |
| No. of observations | 18826 | 18826 | 2129 | 2129 |
| R2 | 0.22 | 0.22 | 0.44 | 0.44 |
| HIV cases per 100,000 population (age 13 and older) | −1.47** (0.70) | −8.83*** (2.85) | −1.54* (0.80) | −8.40** (3.35) |
| No. of observations | 11807 | 11807 | 1656 | 1656 |
| R2 | 0.23 | 0.24 | 0.48 | 0.48 |
| Health factors as dependent variables | ||||
| Pct. adults who are current smokers | −0.02*** (0.01) | −0.05 (0.03) | −0.01 (0.01) | −0.05* (0.03) |
| No. of observations | 12557 | 12557 | 1488 | 1488 |
| R2 | 0.62 | 0.62 | 0.66 | 0.66 |
| Pct. obese adults (age 20 and older) | −0.03*** (0.01) | −0.10** (0.04) | −0.02*** (0.01) | −0.10*** (0.03) |
| No. of observations | 18827 | 18827 | 2129 | 2129 |
| R2 | 0.35 | 0.35 | 0.55 | 0.55 |
| Pct. adults binge or heavy drinking in last 30 days | −0.03*** (0.00) | −0.12*** (0.03) | −0.03*** (0.01) | −0.14*** (0.03) |
| No. of observations | 12557 | 12557 | 1488 | 1488 |
| R2 | 0.46 | 0.46 | 0.52 | 0.52 |
| Pct. uninsured adults (age 18 to 64) | −0.03** (0.01) | −0.04 (0.05) | −0.02* (0.01) | −0.05 (0.06) |
| No. of observations | 21969 | 21969 | 2477 | 2477 |
| R2 | 0.97 | 0.97 | 0.98 | 0.98 |
| Preventable hospital stays (Medicare enrollees)a | −0.86 (3.15) | −2.74 (13.06) | 0.10 (3.49) | −8.25 (14.32) |
| No. of observations | 21307 | 21307 | 2442 | 2442 |
| R2 | 0.96 | 0.96 | 0.98 | 0.98 |
| Pct. mammography screening (Medicare)b | −0.01 (0.01) | −0.05 (0.04) | 0.00 (0.01) | −0.01 (0.04) |
| No. of observations | 21530 | 21530 | 2451 | 2451 |
| R2 | 0.97 | 0.97 | 0.99 | 0.99 |
| Pct. flu vaccination (Medicare enrollees)c | −0.00 (0.01) | −0.01 (0.06) | −0.00 (0.01) | 0.02 (0.04) |
| No. of observations | 9374 | 9374 | 1086 | 1086 |
| R2 | 0.73 | 0.73 | 0.91 | 0.91 |
| Health resource utilization as dependent variables | ||||
| Rate of total inpatient days per persond | −0.00 (0.00) | −0.00 (0.00) | −0.00 (0.00) | −0.00 (0.00) |
| No. of observations | 25116 | 25116 | 2763 | 2763 |
| R2 | 0.06 | 0.06 | 0.34 | 0.34 |
| Short-term general hospital inpatient rate | 0.00 (0.00) | 0.00 (0.00) | 0.00 (0.00) | 0.00 (0.00) |
| No. of observations | 25116 | 25116 | 2763 | 2763 |
| R2 | 0.06 | 0.06 | 0.30 | 0.31 |
| Rate of total outpatient visit per persone | 0.00 (0.00) | 0.01 (0.01) | 0.00 (0.00) | 0.02 (0.02) |
| No. of observations | 25121 | 25121 | 2764 | 2764 |
| R2 | 0.09 | 0.09 | 0.27 | 0.27 |
| Short-term general hospital outpatient visit rate | 0.00 (0.00) | 0.01 (0.01) | 0.00 (0.00) | 0.02 (0.02) |
| No. of observations | 25116 | 25116 | 2763 | 2763 |
| R2 | 0.08 | 0.09 | 0.25 | 0.25 |
| Emergency department visit rate | 0.00* (0.00) | 0.00 (0.00) | 0.00** (0.00) | 0.00* (0.00) |
| No. of observations | 25116 | 25116 | 2763 | 2763 |
| R2 | 0.05 | 0.05 | 0.23 | 0.22 |
| Full sample | Propensity score matched sample | |||
|---|---|---|---|---|
| Lagged # of startups | Lagged # of innovative startup | Lagged # of startups | Lagged # of innovative startups | |
| Percent of adults that report fair or poor health | −0.01** (0.00) | −0.06** (0.03) | −0.00 (0.01) | −0.06 (0.04) |
| No. of observations | 12557 | 12557 | 1488 | 1488 |
| 0.67 | 0.67 | 0.72 | 0.72 | |
| Avg. no. of physically unhealthy days per month | 0.00* (0.00) | 0.00 (0.01) | 0.00** (0.00) | −0.00 (0.00) |
| No. of observations | 12557 | 12557 | 1488 | 1488 |
| 0.67 | 0.67 | 0.76 | 0.76 | |
| Avg. no. of mentally unhealthy days per month | −0.00* (0.00) | −0.00 (0.00) | −0.00 (0.00) | −0.00 (0.01) |
| No. of observations | 12557 | 12557 | 1488 | 1488 |
| 0.85 | 0.85 | 0.85 | 0.85 | |
| Pct. adults aged 20 and above with diabetes | −0.02*** (0.00) | −0.06*** (0.02) | −0.01*** (0.00) | −0.04** (0.02) |
| No. of observations | 18826 | 18826 | 2129 | 2129 |
| 0.22 | 0.22 | 0.44 | 0.44 | |
| HIV cases per 100,000 population (age 13 and older) | −1.47** (0.70) | −8.83*** (2.85) | −1.54* (0.80) | −8.40** (3.35) |
| No. of observations | 11807 | 11807 | 1656 | 1656 |
| 0.23 | 0.24 | 0.48 | 0.48 | |
| Pct. adults who are current smokers | −0.02*** (0.01) | −0.05 (0.03) | −0.01 (0.01) | −0.05* (0.03) |
| No. of observations | 12557 | 12557 | 1488 | 1488 |
| 0.62 | 0.62 | 0.66 | 0.66 | |
| Pct. obese adults (age 20 and older) | −0.03*** (0.01) | −0.10** (0.04) | −0.02*** (0.01) | −0.10*** (0.03) |
| No. of observations | 18827 | 18827 | 2129 | 2129 |
| 0.35 | 0.35 | 0.55 | 0.55 | |
| Pct. adults binge or heavy drinking in last 30 days | −0.03*** (0.00) | −0.12*** (0.03) | −0.03*** (0.01) | −0.14*** (0.03) |
| No. of observations | 12557 | 12557 | 1488 | 1488 |
| 0.46 | 0.46 | 0.52 | 0.52 | |
| Pct. uninsured adults (age 18 to 64) | −0.03** (0.01) | −0.04 (0.05) | −0.02* (0.01) | −0.05 (0.06) |
| No. of observations | 21969 | 21969 | 2477 | 2477 |
| 0.97 | 0.97 | 0.98 | 0.98 | |
| Preventable hospital stays (Medicare enrollees)a | −0.86 (3.15) | −2.74 (13.06) | 0.10 (3.49) | −8.25 (14.32) |
| No. of observations | 21307 | 21307 | 2442 | 2442 |
| 0.96 | 0.96 | 0.98 | 0.98 | |
| Pct. mammography screening (Medicare)b | −0.01 (0.01) | −0.05 (0.04) | 0.00 (0.01) | −0.01 (0.04) |
| No. of observations | 21530 | 21530 | 2451 | 2451 |
| 0.97 | 0.97 | 0.99 | 0.99 | |
| Pct. flu vaccination (Medicare enrollees)c | −0.00 (0.01) | −0.01 (0.06) | −0.00 (0.01) | 0.02 (0.04) |
| No. of observations | 9374 | 9374 | 1086 | 1086 |
| 0.73 | 0.73 | 0.91 | 0.91 | |
| Rate of total inpatient days per persond | −0.00 (0.00) | −0.00 (0.00) | −0.00 (0.00) | −0.00 (0.00) |
| No. of observations | 25116 | 25116 | 2763 | 2763 |
| 0.06 | 0.06 | 0.34 | 0.34 | |
| Short-term general hospital inpatient rate | 0.00 (0.00) | 0.00 (0.00) | 0.00 (0.00) | 0.00 (0.00) |
| No. of observations | 25116 | 25116 | 2763 | 2763 |
| 0.06 | 0.06 | 0.30 | 0.31 | |
| Rate of total outpatient visit per persone | 0.00 (0.00) | 0.01 (0.01) | 0.00 (0.00) | 0.02 (0.02) |
| No. of observations | 25121 | 25121 | 2764 | 2764 |
| 0.09 | 0.09 | 0.27 | 0.27 | |
| Short-term general hospital outpatient visit rate | 0.00 (0.00) | 0.01 (0.01) | 0.00 (0.00) | 0.02 (0.02) |
| No. of observations | 25116 | 25116 | 2763 | 2763 |
| 0.08 | 0.09 | 0.25 | 0.25 | |
| Emergency department visit rate | 0.00* (0.00) | 0.00 (0.00) | 0.00** (0.00) | 0.00* (0.00) |
| No. of observations | 25116 | 25116 | 2763 | 2763 |
| 0.05 | 0.05 | 0.23 | 0.22 | |
Note(s): Standard errors are in parentheses. *p < 0.10; **p < 0.05; ***p < 0.01. All models are weighted by county population
The matched sample is from one-to-one nearest neighbor matching
In all models, we included poverty rate, unemployment rate, median household income, percentages of the population between 15 and 24, between 25 and 44, between 45 and 64, 65 and above, Health Professional Shortage Area indicators, county-level fixed effects, and state-year fixed effects. Full results are available from the authors on request
aRate of hospital stays for ambulatory-care sensitive conditions per 100,000 Medicare enrollees
bPercentage of female Medicare enrollees ages 65–74 that received an annual mammography screening
cPercentage of fee-for-service (FFS) Medicare enrollees that had an annual flu vaccination
dTotal inpatient days of short-term general, short-term non-general, long-term, and Veterans hospitals. Inpatient days are the no. of adult and pediatric days of care, excluding newborn days of care, rendered during the entire reporting period. Neonatal and swing admissions are included
eTotal outpatient visits for short-term general, short-term non-general, long-term, and Veterans hospitals. It consists of emergency visits, other visits (including clinic and referred visits), and total visits. An outpatient visit is defined as a visit by a patient not lodged in the hospital while receiving medical, dental, or other services. Each visit an outpatient makes to a discrete unit constitutes one visit regardless of the no. of diagnostic and/or therapeutic treatments that the patient receives
Source(s): Author’s own creation/work