Question

Preventative care refers to care taken to prevent future diseases rather than to treat current ones. Compared to emergency room care, preventative care is rarely urgent, and benefits can be difficult to measure. Would you expect preventative care to be more or less price sensitive compared to inpatient care? Why?

Answer 1

Preventative care is qualitative in nature and ensures the citizens against the future risks, many governments worldwide are collaborating with World Health Organisation (WHO) and Non Governmental Organizations like Melinda Gates Foundation etc to work in the research for prevention against newly occuring diseases, by providing them funds, labs, infrastructure and other related facilities, the main motto behind such collaborations is to stabilize the R&D in this sector because preventive projects are more price sensitive with respect to time. Recently Zika virus spreaded in several african and latin american nations, many people died and thousands of people were affected by this epidemic, governments spended millions of dollars in order to prevent the disease from further elevation. Thus prevention is better than control, although the benifits of the expenditure are not visible intially, but it ensures long term security of the people of a nation. Thus we can say that preventative care is more price sensitive than inpatient care, reachabilility point of view.