Pricing the Priceless
A Health Care Conundrum
By (author) Joseph P. Newhouse
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Pricing the Priceless by Joseph P. Newhouse
Book DescriptionThe health care industry differs from most other industries in that medical pricing is primarily administered by the government and private insurers and in that it uses several types of contracts. Providers may receive a fixed sum for all necessary services within a given period of time, for the necessary services to treat a given condition, or for each specific service. The industry is changing dramatically, offering many natural experiments to aid understanding of the economics of pricing for health care. In Pricing the Priceless, Joseph Newhouse explains the different pricing systems and how they affect resource allocation and efficiency, focusing on the efficiency of pricing. He also discusses larger issues of equity, fair distribution of burden, and social justice. Although most of the examples are American-based, the same issues arise in all medical care financing and delivery systems, and the theories and models are general enough to apply to many institutional contexts. The topics include Medicare, managed care, the contemporary integration of health insurance and medical care, the management of moral hazard and stinting, uncertainty and risk aversion, the demand for health insurance, agency relationships, information disparities, regulation, and supply-side and demand-side selection.
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Book DetailsISBN: 9780262640589
(229mm x 152mm x 12mm)
Imprint: MIT Press
Publisher: MIT Press Ltd
Publish Date: 7-Sep-2004
Country of Publication: United States
Books By Author Joseph P. Newhouse
Free for All?, Paperback (April 1996)» View all books by Joseph P. Newhouse
This work presents the results and an account of an experiment to examine the effect that free health care would have on the amount of people using these services, and on their health. It is the product of a study carried out between 1971 and 1982.
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Author Biography - Joseph P. Newhouse
Joseph P. Newhouse is John D. MacArthur Professor of Health Policy and Management at Harvard University and Director of the Division of Health Policy Research and Education. He is the founding editor of the Journal of Health Economics.
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