4. True or False. There is no such thing as “too much competition” in the private...

4. True or False. There is no such thing as “too much competition” in the private hospital market. Be sure to justify your answer.

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Expert Solution

This statement is false that there is no such thing as too much competition in the private hospital market because, in fact, the competition level in the private hospital market is very high because private hospital market is an area where every competitor is looking for the maximum revenue and the circulation of turnover because a patient is like a commodity and to charge a higher price for the services is the priority of the private hospital therefore instead of guiding or suggesting something beneficial for the patient private hospitals are engaging lots of things to charge higher prices from the patient, therefore, this is a clear scenario that there is very high competition in the private hospital market and because of this competition this market is flourishing very fast.

The main concern of the patient is to approach the private hospital in lieu of better facilities and better medical care but as per the scenario, private hospitals are nowadays charging very high prices against a good medical facility.

Rahul Sunny answered 1 year ago

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