The Professor and Founding Chair in the Department of Pharmaceutical Economics and Policy in the School of Pharmacy and a Professor of Health Policy and Economics in the Leonard Schaeffer Center for Health Policy and Economics, with a joint appointment in the Department of Economics at the University of Southern California.  He received his B.A. summa cum laude from Amherst College in 1974 and his M.A. (1975), M. Ph. (1976) and Ph.D. in economics (1980) from Yale University.

Dr. Hay has authored or coauthored over 500 peer-reviewed scientific articles, abstracts, editorials and reports in the fields of pharmaceutical economics, health economics, outcomes research, disease management, statistics, econometrics, epidemiology and health care in journals including more than 200 peer-reviewed scientific articles and commentaries.  Dr. Hay was Founding Editor-in-Chief of Value in Health the peer-reviewed scientific journal of the International Society for Pharmacoeconomics and Outcomes Research.  This journal remains one of highest impact factor scientific journals in health economics and health services research as measured by the by the ISI Journal Citation Report.   

Dr. Hay served as the USC Project Coordinator for the Evidence-Based Medicine Practice Centers of Southern California funded by the US Agency for Health Research and Quality (AHRQ).  He is a Health Economics Research Scholar at the UCLA Center for Vaccine Research. He is a founding member and founding Executive Board member of the American Society for Health Economics (ASHEcon) and of the International Society for Pharmaceutical Economics and Outcomes Research (ISPOR).  He has served on the U.S. Agency for Health Research and Quality Health Services Research Study Section.  He has also served as a consultant to the U.S. National Institutes of Health, the U.S. Food and Drug Administration, the U.S. Environmental Protection Agency and the American Heart Association.