Asked by Jacob Franks on Jun 22, 2024
Verified
The law of supply and demand plays little role in controlling health care costs in the United States because
A) doctors, not consumers, largely control what health care services consumers purchase.
B) the United States needs more doctors.
C) of the DRG system.
D) of the high proportion of doctors who are primary care providers.
E) none of the above
Law of Supply and Demand
An economic principle stating that the price of a good or service is determined by its availability (supply) and the desire for it (demand), assuming all else being equal.
DRG System
Diagnosis-related group system, a method used by healthcare providers to classify hospitalization costs and determine how much to reimburse for care based on the diagnosis.
Health Care Costs
refer to the expenses associated with the prevention, diagnosis, treatment, and management of illness and the preservation of mental and physical well-being.
- Gain insight into the variables driving up healthcare costs in the United States.
Verified Answer
Learning Objectives
- Gain insight into the variables driving up healthcare costs in the United States.
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