What are the implications of the market structure on the demand and supply curve and price of the services offered?
Pick one of the following healthcare industries listed below. Using what you have learned so far about market structure and the impact on supply and demand, write 7 pages report (double-spaced) addressing the following questions:
- From what you have learned in class and research you have done on-line what is the market structure of that industry (e.g perfectly competitive, oligopoly, monopoly, other)
- What are the implications of the market structure on the demand and supply curve and price of the services offered?
- What is the implication of third-party payers like private health insurance or federal programs like Medicare and Medicaid on demand and supply in this industry?
- How has the government intervened in the industry and what was the economic rationale for the intervention? Was there a market failure or other rationale for intervention? Discuss
Choose one of the following industries to discuss the answers to the above questions:
a. Pharmaceutical Industry
b. For-profit health insurers
c. Not-for profit health insurers
d. Any physician specialty (e.g. cardiology, ophthalmology, etc.)
e. Hospital (national Network)
f. Small rural hospital