just started working as a Health Service Manager for a health care
company within an industry below. First choose an industry below to
discuss the questions that follow:
- Pharmaceutical (generic drugs)
- Pharmaceutical (patented drug)
- For-profit health insurers
- Not-for profit health insurers
- Any physician specialty (e.g. cardiology, ophthalmology, etc.)
- Hospital (national Network)
- Small rural hospital
Your boss has asked you to write a memo detailing the factors impacting the supply of your product or services and how the market structure of your
Answer the first four questions (and Q6) below relying primarily
on the course readings and other resource material presented in this
class. You can use external UMUC library resources to research Q5 below
in order to research government regulations impacting your industry.
Cite and refer all resources used whether internal or external.
- Describe the product or service you supply to your patients.
- Identify the market structure of your industry and the analyze the key characteristics of your industry that lead to your identification of this market structure.
- Given this market structure, evaluate how prices charged for your services/products are determined.
- Evaluate how does the existence of private and public insurance influence the revenues you receive for this service/product.
- Given the government regulations impacting the health industry that have been discussed in this class, identify and discuss a government regulation that has been implemented in this industry.
- Identify a market failure(s) discussed in class that the government regulation attempted to address.
In writing your report be sure to include your name and in the
subject line identify the health care entity you chose above. In order
for your boss to easily review your report, please include section
headers to correspond to the questions below.
1)The first text for this course is written by Mayer, “Everything Economics”.
Access the text via the following link (copy and paste into browser)
The second textbook is: Economic Theory Through Application
And can be found at:
1) Mayer Chapter 9: Government in the Marketplace
2) Regulation of Healthcare Markets: http://hsr.sagepub.com/content/8/4/193.full.pdf
3) Economic Theory Through Application- 16.3 Government Policy (as it relates to healthcare) p. 730 to 740
4) Legislating Low Prices: Cutting Costs or Care? http://thf_media.s3.amazonaws.com/2013/pdf/bg2834.pdf
5) “Licensing Doctors: Do Economists Agree?” download at: http://econjwatch.org/articles/licensing-doctors-do-economists-agree
6) “How Government Regulation Made Healthcare So Expensive,” https://mises.org/blog/how-government-regulations-made-healthcare-so-expensive