To Find the Answer, One Must Know the Question: Health Economics and Public Policy
To Find the Answer, One Must Know the Question: Health Economics and Public Policy
This chapter discusses health economics from a public policy perspective, focusing on health care policy issues in the United States. Although economists have made substantial progress in a number of areas, public policy demands ever more precise answers, such as how to best structure cost sharing in health insurance plans or how to structure medical malpractice insurance to best achieve the goals of injury deterrence, compensation, and reducing the high administrative cost of tort liability. Various participants in the health care market respond to traditional economic incentives, such as prices and incomes. The chapter examines the influence of incentives on supply and demand of medical services, such as health insurance and personal health care services. It also discusses professional ethics and medical malpractice, technological change, and the organization of health care delivery. Finally, it explores challenges facing health care in the United States.
Keywords: health economics, public policy, health care policy, United States, economic incentives, prices, incomes, health insurance, professional ethics, medical malpractice
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