Pricing the Priceless A Health Care Conundrum

ISBN-10: 0262640589

ISBN-13: 9780262640589

Edition: 2004

Authors: Joseph P. Newhouse

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Description:

The 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 details

List price: $30.00
Copyright year: 2004
Publisher: MIT Press
Publication date: 8/20/2004
Binding: Paperback
Pages: 266
Size: 5.75" wide x 8.75" long x 0.75" tall
Weight: 0.748
Language: English

Joseph P. Newhouse is the John D. MacArthur Professor of Health Policy and Management, Harvard University.

Preface and Acknowledgments
Introduction
Fee-for-Service Medicine and Its Discontents
The Integration of Medical Insurance and Medical Care
The Management of Moral Hazard and Stinting: Demand- and Supply-Side Prices
Selection and the Demand Side
Selection and the Supply Side
Risk Adjustment, Market Equilibrium, and Carveouts: Pulling a Rabbit Out of a Hat?
Notes
References
Index
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