Question

As the supply of a product or service increases relative to the population of consumers, the price of that product or service should decrease. The population of practicing physicians in the U.S. has increased at twice the rate of the population as a whole. However, rather than going down physician pricing, incomes have gone up dramatically over the last 30 years. Explain the economic anomaly along with problem statement(s), potential alternatives and solutions to this anomaly.

Answer 1

Yes it is the well known concept of the marketing/field as the supply of the product or the sertvice increases the ultimate price decreases.

But this concept is not fitted for the practicing in the US, as the physician pricing and the income have gone dramatically. The rising cost of health care is the key threat to the long-term economic security of the nation. This is also due to the rising number of health problems in the US, specially in elderly care. As the population of the elderly care is increasing and the variety of severe diseases and disorders are increasing day by day.

It is seen that there is increasing demand of the physicains in U.

Hence to overcome this problem there should be some alternatives of this.

Potential alternatives: As above said problem of physician pricing and other lacking factors in my view it is advisable that the role of nursing and other pharmacy staff sould be widened in healthcare system in all the services except the surgery.

Their role can be improved for the pateint education , conselling and in general care so that the lack of such physicians can be resolved.