Health Medical Homework Help. Grand Canyon University Competitive Economic Structure Discussion
I?m working on a Health & Medical exercise and need support.
“Health Medical Homework Help”,
“text”: “Health Medical Homework Help. Grand Canyon University Competitive Economic Structure Discussion
I?m working on a Health & Medical exercise and need support. respond to the following discussion post as a peer. The ideal economic structure and the gold standard is perfect competition. There are four characteristics needed to create perfect competition and they are; there must be many sellers with smaller market shares, the products must be the same, there can?t be any barriers to entering the marketplace, Consumer information is perfect, transparent, and easy to find (Dewar, 2020).Unfortunately, perfect competition is hard to achieve. Within the healthcare system, consumers generally aren?t educated on medical services and procedures which can lead to a physician making the choice to work opportunistically, and not in the best interest of the patient, wither overprescribing or under prescribing care (Dewar, 2020). Regulations for health and safety create barriers to the market, where only some firms are able to compete within the marketplace, as well as licensure creating barriers because it limits the number of providers and decreases potential competition. An example of perfect competition within the healthcare system would be over the counter drugs like ibuprofen, or acetaminophen. Both drugs come in branded names and generic names for less cost. There are many choices of the drugs that do the same thing, and consumers are well educated about these drugs, they are very common and there is information readily available. ReferencesDewar. (2020). essentials of health economics. jones and Bartlett learning. Health Medical Homework Help”,
“url”: “/health-medical-homework-help-4110/”
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respond to the following discussion post as a peer. The ideal economic structure and the gold standard is perfect competition. There are four characteristics needed to create perfect competition and they are; there must be many sellers with smaller market shares, the products must be the same, there can?t be any barriers to entering the marketplace, Consumer information is perfect, transparent, and easy to find (Dewar, 2020).
Unfortunately, perfect competition is hard to achieve. Within the healthcare system, consumers generally aren?t educated on medical services and procedures which can lead to a physician making the choice to work opportunistically, and not in the best interest of the patient, wither overprescribing or under prescribing care (Dewar, 2020). Regulations for health and safety create barriers to the market, where only some firms are able to compete within the marketplace, as well as licensure creating barriers because it limits the number of providers and decreases potential competition.
An example of perfect competition within the healthcare system would be over the counter drugs like ibuprofen, or acetaminophen. Both drugs come in branded names and generic names for less cost. There are many choices of the drugs that do the same thing, and consumers are well educated about these drugs, they are very common and there is information readily available.
References
Dewar. (2020). essentials of health economics. jones and Bartlett learning.
Health Medical Homework Help
