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Price Elasticities Of Demand For Various Health Care Services (Essay Sample)


Answer This Question.

Discuss what is known about price elasticities of demand for various health care services.

Answer 1 of these 2 questions.

Describe the costs (disadvantages) and benefits (advantages) of systems that use non-physicians as primary-care providers.

Describe the economic issues at play when a physician chooses whether to specialize and when they have chosen to specialize, the economic factors in picking a specialty.

Answer 1 of these 2 questions.

Comment on the notion of induced demand for physicians and how this relates to the observation that where there are more hospitals there are higher rates of utilization.

Discuss the search process for physician services by patients paying attention to how patients search, on what they search, what causes patients to switch from one physician to another and why you can conclude that price differences are more likely to be observed in larger cities than in smaller ones.

Answer 1 of these 2 questions.

Define and discuss the notion of the “residual claimant” and why the organization of a hospital is important in determining who it is likely to be the “residual claimant.”

Discuss the data as it relates to the changing nature of what hospitals do.

Answer This Question.

Discuss why the textbook and the lectures say that “Hospitals are odd Ducks” in their organization. Be sure to include details that are typical in hospitals that would be atypical anywhere else.


Health care
One of the most interesting elements about the price elasticity when it comes to health care services is that it does not follow the normal demand and supply curves. Unlike other basic goods and services, this is a commodity that does not obey the demand and supply curve. The element of demand that is associated with the health care services is largely inelastic. This is to mean that the element of price does not affect the demand for the services (Phelps, 2016). Unlike most services and goods they do not follow the normal law when the price changes the demand (Riley, 2018). The same is also the case when the price for the health care services does not affect the demand for the services in question.
There is a debate as to what is the determinant when it comes to the specialty elements that come into play when a physician is looking to specialize in a given area. One of the most common elements is associated with the economic aspects of the position and the direction that the physician is looking to direct their career (Chang, Hung, Wang, Huang & Chang, 2006).
Where there are more hospitals, there is a higher level of utilization in the sense that patients have more options. This is to mean that, patients are able to choose between different hospitals and more importantly between physicians (Phelps, 2016). As such, the level of utility is quite high given the fact that patients are able to choose between what they want and what they can afford. This gives them the ability to review prices and quality of services. As such, where t

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