Pricing the Priceless: A Health Care Conundrum

Pricing the Priceless: A Health Care Conundrum

by Joseph P. Newhouse
     
 

ISBN-10: 0262640589

ISBN-13: 9780262640589

Pub. Date: 09/01/2004

Publisher: MIT Press

The health care industry differs from most other industries in that medical pricing is primarily administered by the government and private insurers and in that it uses several types of contracts. Providers may receive a fixed sum for all necessary services within a given period of time, for the necessary services to treat a given condition, or for each specific

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Overview

The health care industry differs from most other industries in that medical pricing is primarily administered by the government and private insurers and in that it uses several types of contracts. Providers may receive a fixed sum for all necessary services within a given period of time, for the necessary services to treat a given condition, or for each specific service. The industry is changing dramatically, offering many natural experiments to aid understanding of the economics of pricing for health care.In Pricing the Priceless, Joseph Newhouse explains the different pricing systems and how they affect resource allocation and efficiency, focusing on the efficiency of pricing. He also discusses larger issues of equity, fair distribution of burden, and social justice. Although most of the examples are American-based, the same issues arise in all medical care financing and delivery systems, and the theories and models are general enough to apply to many institutional contexts. The topics include Medicare, managed care, the contemporary integration of health insurance and medical care, the management of moral hazard and stinting, uncertainty and risk aversion, the demand for health insurance, agency relationships, information disparities, regulation, and supply-side and demand-side selection.

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Product Details

ISBN-13:
9780262640589
Publisher:
MIT Press
Publication date:
09/01/2004
Series:
Walras-Pareto Lectures
Edition description:
New Edition
Pages:
266
Product dimensions:
6.00(w) x 9.00(h) x 0.50(d)
Age Range:
18 Years

Related Subjects

Table of Contents

Preface and Acknowledgmentsvii
Introduction1
1Fee-for-Service Medicine and Its Discontents7
2The Integration of Medical Insurance and Medical Care63
3The Management of Moral Hazard and Stinting: Demand- and Supply-Side Prices79
4Selection and the Demand Side105
5Selection and the Supply Side117
6Risk Adjustment, Market Equilibrium, and Carveouts: Pulling a Rabbit Out of a Hat?147
Notes209
References239
Index255

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