Major concepts of health care economics.

Fuchs, Victor R · Ann Intern Med · 2015

review · Level V

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Abstract

This article applies major economic concepts, such as supply, demand, monopoly, monopsony, adverse selection, and moral hazard, to central features of U.S. health care. These illustrations help explain some of the principal problems of health policy-high cost and the uninsured-and why solutions are difficult to obtain.

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