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The Day Was One

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Submitted By barney
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I agree, with all these high cost it’s a loose, loose situation. The hospital bill is not being paid by customers because they cannot afford to pay the high cost of medical. The hospital then loses money finding it very difficult to offer quality care and to keep their doors open. Customers will lose quality care and have to pay higher cost and insurance premiums keeps getting higher each year. Medications are very expensive and your health insurance can force you to get fill your medications from different pharmacies. For example I was filling my prescription at Stop and Shop and one day the pharmacy told me that they no longer accept my insurance and I would have to go to CVS to fill all my prescription from now on. These insurance companies control everything whether you pay or not.

What is a demand curve in health care? Provide an example of a demand curve in health care. How could this example affect the economics of health care?

This predictable relationship between price and quantity demanded allows us to define demand formally as the quantity of a good or service that buyers are willing and able to buy at every conceivable price. The demand curve shows this relationship graphically.
A graphical representation of this economic relationship produces the classic downward sloping demand curve and the upward sloping supply curve. At some point in time however, the treatment plan is completed, the patient is satisfied, and additional services are not needed. This is known as market equilibrium.
When an industry becomes more competitive – either by too much supply or too little demand – market equilibrium fees tend to become elastic while patient volume becomes very sensitive to even small changes in price. This may be where we have arrived, right now relative to medical price elasticity.

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