IDSB04H3 Lecture Notes - Lecture 8: Managed Care, Moral Hazard, Community Rating
26 Nov 2012
School
Department
Course
Professor
Document Summary
Lecture 8 idsb04 - healthcare and the economy. Need to maximize value for spending (efficiency): better outcomes at same or lower cost. Health economics is drving health care policy and health system planning. Comprehensive primary care-oriented redistributive systems (heterodox, social justice. Factors that lie outside of healthcare system/services, are all as important than medical care. Low cost interventions for developing countries (orthodox neoclassical approach) vs. approach) Ideally health economics assesses fairness and equity in context fo local culture, history and politics. Supply goes up and demand goes down; demand goes down, supply goes up. If supply fixed and demand high= price goes up. If price free=demand could go down (arguable; moral hazard as people will overuse services) People have to spend for healthcare, healthcare creates its own demand = by everybody (multiple sources of demand) Some health spending has no medical benefit (unnecessary services, profits, corruption, malpractice premiums etc)
