PUP 4931r Lecture Notes - Lecture 38: Defensive Medicine, Consumer Sovereignty, Information Asymmetry
6 Apr 2018
School
Department
Course
Professor
Document Summary
Default in us is 20 years from filing. We spend about as much as they do in public funds. Health care market is imperfect for several reasons **** Barriers to entry, locally delivered so easy to monopolize. Information asymmetry rampant, no consumer sovereignty, 3rd party payment=moral hazard. But patents permit high costs to exceed rx research, development, distribution costs (cid:1688)market orientation(cid:1689) bans public payers from using clout to hold prices down. So we make up difference for rx company profits. Our high income & tax breaks leave us willing to pay excessively. Life style and end of life choices drive up costs. Obesity, diabetes, heart disease, untreated mental health conditions. High out of pocket costs hit poor hardest. John f. cogan, r. glenn hubbard, and daniel p. kessler: (cid:1688)making markets. Work: five steps to a better health care system. (cid:1689) Five changes in public policy to ensure a successful reform. Absence of standardized practice guidelines or evidence-based guidelines:
