Essay On Competition In Healthcare

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Recommended: How healthcare markets differ from perfectly competitive markets

As we discuss competition in healthcare, there are some basic assumptions that we must consider. For instance, healthcare in the United States has been deemed a right. Therefore, we cannot turn people away from the emergency room., Consequently, at the end of the day, regardless of what transpires, we as a society will take care of you. Furthermore, competition decreases cost and consolidation within a market increases cost thereby lowering quality. Within the healthcare ecosystem, time and time again, evidence has proven these facts. In addition, unit pricing for services and treatments are increasing. Thus, more people are currently insured than ever before. According to the Urban Institute’s 2017 Health Reform Monitoring Survey, there are only 10.2% of nonelderly adults that are now uninsured. However, being insured does not equate to affordable care.
The rise of deductibles has created a financial crisis within the insured population. Distribution of services is not equal based on geographic factors. Regulations are increasing and statutes that were implemented in the past do not fit with …show more content…

Prices will need to fall, thereby allowing innovation, and proliferation of new ideas and models to emerge, Undoubtedly, there will be winners and losers. With our society changing its desire for what it wants, no longer do we wish to sacrifice service when purchasing goods. Thus, we are moving to a much greater experience economy where mass customization will replace mass production. Hence, value will be viewed within this context where quality and service (the experiential ideals of entertain me, activate me, and engage me) will need to be balanced by cost. Demand side economics with overtake supply side models, as they should if we want to create greater value for the

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