Case study 1. why are private so high in the united states? 2. how are commercial...

Case study

1. why are private so high in the united states?

2. how are commercial insurance prices set for hospital services?

3. How are Medicare prices set for physician’s services?

4. How are Medicare prices set for hospital services?

5. should governments be involved in private price negotiations?

Expert Solution

Medical Care in US
The US medical care system being fully privatized, has many drawbacks of the price he sector charges and the ability of the system to satisfy the populations. Rather than having a chain of public health care facilities, US own a health care where someone has to pay for the service someone enjoys. The free market situation pulls up the price for every service due to various reasons. The idea to privatize the sector was after the decision of the government to follow a capitalize culture in the sector by reducing the burden from the part of the government to the system.
Being fully privatized, the government no longer could help in the process of decision making especially to price the service made. Having an inelastic constant demand in the sector, the firms always will be free enough to charge the price they want with the quality they provide.
The health care system in the US has complete autonomy on its working. The technological up gradation and the competition may force them hire better physicians for high remuneration. That may probably leads to charge high for their service since the sector doesn’t have the control from government.
Rather from the service of public health care system, private firms will always try to earn profit which probably leads to charge high price for every services they provide.
A complete autonomy could always charge high prices for the services and goods by a firm or a market. Even a private health care system could be charged optimally under the rules and regulations of the government. In better words, government regulatory could help in deciding and fixing price optimally which is bearable to the public, which the US system of medical-care lacks.

Rahul Sunny answered 8 months ago

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