Question

From an economic perspective, why is the physician-patient relationship fundamentally problematic? How do we attempt to alleviate the problems associated with the relationship?

Answer 1

From an economic perspective, patients constitute the market for physicians and it is the responsibility of the physician to serve the patients in the best way so that they remain healthy. But, it contracts the market for physicians and it attracts moral hazard and conflict of interests among the physicians. Due to fear of contraction of the market if patients remain healthy, physicians can go to the costly mode of health care plan, can prescribe unnecessary tests, branded and costly medicines and not focusing upon the acute needs of the patients. So, it creates problem in the relationship between physician and patient relationship.

We attempt to alleviate the problem, by setting up standards and procedure of treatment plan, making treatment process to be result and quality oriented and granting rights to the patients to take second opinion or ask for the other methods of treatment. Further, taking consents of the patients before going for the treatment is also done. Besides, ethical guidelines are also applied so that patients are given due respect and privacy.