Licensure of physicians means that to some extent, the supply of physicians can be viewed as...

Licensure of physicians means that to some extent, the supply of physicians can be viewed as a vertical line. Explain what this means for the price of physician services. Which factors might change the shape and position of the supply curve for physicians over time? What is the difference between a doctor, a physician’s assistant, a nurse practitioner and an RN? How has the creation of these new healthcare providers affected the demand and supply for health care?

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Expert Solution

If the supply of the physicians is a vertical line, then it can be stated that price of the physician services is demand determined. As the demand increases, price of physician services increases and as demand decreases, price of physician services decreases. The shape and position of the supply curve can change if there is change in the price of physician services. the position changes if there are more and more colleges providing physician services in the market.

A doctor is a person preceribing medicines at the time of disease, nurse practitioner receives training in accordance with nursing model wile physician assistant attend programs more in line with medical model and is similar to doctor. A RN is not direclty related to patients but has to maintain record of each patient.

These new healthcare providers has shifted the supply curve of halth services rightwards as number of persons providing healthcare has increased.

Rahul Sunny answered 2 hours ago

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