Question

Review the "Economic Rules of the Dysfunctional Medical Markey", which of these rules have you experienced in your lif in relationship to the health care industry? Have your friends or loved ones been influenced by these rules in a positive or a negative manner?

Answer 1

Economic Rules of the Dysfunctional Medical Market

Toward the finish of Chapter 1 of E. Rosenthal's book, American Sickness, (on D2L, Week 3), she destinations these financial guidelines of the useless restorative market. I post them here for review which are applicable for health care industry:

1. Greater treatment is constantly better. Default to the most costly choice.

2. A lifetime of treatment is desirable over a cure.

3. Luxuries and promoting matter more than great care.

4. as advances age, costs can rise as opposed to fall.

5. There is no free decision. Patients are trapped. What's more, they're stuck purchasing American.

6. More contenders competing for business doesn't mean better costs; it can drive costs up, not down.

7. Economies of scale don't mean lower costs. With their market control, huge suppliers can just request more.

8. There is no such thing as a settled cost for a methodology or test. Also, the uninsured pay the most astounding costs of all.

9. There are no norms for charging. There's cash to be made in charging for everything and anything.

10. Costs will ascend to what the market will bear.