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Economics
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A highly competitive health care industry could not solve?

Externalities in the consumption of health services, or

The question of equality of distribution of health care services, or

The problem of "excess consumption for health care services, or

all of the above.

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Kristelle Balando
Kristelle BalandoLv10
28 Sep 2019

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Related questions

The market for health care services can be examined using the tools of supply and demand. In this market, the quantity variable is the hours of health care services. Consumers demand health care services while doctors (or others) supply health care services. We will assume health care services are all of the same quality (so 1 hour of heath care service A is the same as 1 hour of health care service B). The market price is the price per hour of health care services (dollars per hour). Given this, suppose a law mandates that doctors cannot charge a price higher than Pmax, where this maximum price is set below the free-market equilibrium price in this market. What will be the effect of this law on the quantity demanded, quantity supplied and the price paid for health care services? Who benefits and who loses from imposing this maximum price that sellers can charge/receive for health care services? (Note: given the price actually paid by consumers for health care must equate supply and demand. This price can include both monetary forms of payment and non-monetary forms of payment; in this example, what forms might such non-monetary payments take? That is if health care must be "rationed" among consumers).

Research two to three electronic health care resources. These could be websites, mobile applications, or multimedia resources used by health care consumers for their medical needs.

Write a 350- to 700-word summary discussing the following prompts based on your research:

Describe the websites, applications, or multimedia resources.How do health care providers use these resources to enhance their products and services?What are the implications of using these resources in the health care industry? What are the implications for the consumer?

Cite any outside sources.

1. Moral Hazard in health care usually refers to the additional consumption of medical care by the insured relative to the uninsured; that is, as the price falls to zero, people consume more services. Should all of the additional "insurance-related consumption be considered waste? why or why not?

2. The implication is that if we raise prices at the point of service, using deductibles and copayments, we can reduce consumption. Is it possible that we can reduce it too much?

3. To what extent can this strategy...Excepting certain kinds of primary care from deductibles and copayment...be adopted for other kinds of health care? are there "optimal" copayments for all medical procedures and service, ones that can discriminate between welfare enhancing versus welfare reducing moral hazard?

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