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A MICROECONOMIC MODEL OF HEALTHCARE SYSTEMS: FROM THEORETICAL TO PRACTICAL
Title
A MICROECONOMIC MODEL OF HEALTHCARE SYSTEMS: FROM THEORETICAL TO PRACTICAL.
Creator
Helligso, Jesse, Hamann, Kerstin, University of Central Florida
Abstract / Description
This thesis is a microeconomic market analysis of healthcare systems. Different countries use various forms for financing and providing healthcare, and the effects of market forces on the quality, access and economic efficiency of these divergent healthcare markets is the primary subject. The purpose of this thesis is to describe the forces working in the healthcare market. Free-market healthcare systems allow medical providers to become price-setters. Price-setting by medical providers...
Show moreThis thesis is a microeconomic market analysis of healthcare systems. Different countries use various forms for financing and providing healthcare, and the effects of market forces on the quality, access and economic efficiency of these divergent healthcare markets is the primary subject. The purpose of this thesis is to describe the forces working in the healthcare market. Free-market healthcare systems allow medical providers to become price-setters. Price-setting by medical providers creates an economically inefficient system which decreases public access to healthcare but creates a high quality system. Single-payer systems make government the price-setter which creates a system in which medical providers are price-takers. Government price-setting guarantees access but quality and economic efficiency vary drastically between countries. Universal single-payer systems tend to set prices higher than the theoretically necessary price which creates a high quality, economically inefficient system. Socialized single-payer systems tend to set prices lower than the theoretically necessary price which creates government savings, wait-lists and poorer quality. The quality, economic efficiency, and equity of the healthcare system are determined by the form of the market used in the country. Ultimately, this market determines price. In a free-market system price is determined by providers of healthcare, in a socialized market price is determined by government, and in a universal healthcare system price is negotiated by both healthcare providers and government. Price negotiation in a universal system creates the greatest access to healthcare, and quality of healthcare. Socialized systems can be more economically efficient than a universal system, but quality and access can be limited. Price negotiation in a universal healthcare system fixes the problems of price negotiation inherent in the healthcare market.
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Date Issued
2007
Identifier
CFE0001821, ucf:47355
Format
Document (PDF)
PURL
http://purl.flvc.org/ucf/fd/CFE0001821
Constructing and Validating an Integrative Economic Model of Health Care Systems and Health Care Markets: A Comparative Analysis of OECD Countries
Title
Constructing and Validating an Integrative Economic Model of Health Care Systems and Health Care Markets: A Comparative Analysis of OECD Countries.
Creator
Helligso, Jesse, Wan, Thomas, Liu, Albert Xinliang, King, Christian, Hamann, Kerstin, University of Central Florida
Abstract / Description
This dissertation argues that there are three basic types of health care systems used in industrial nations: free market (private insurance and provision), universal (public insurance and private provision), and socialized (public insurance and provision). It examines the role of market forces (supply and demand) within the health care systems and their effects on health outcomes by constructing an integrative model of health care markets and policies that is lacking within the scientific and...
Show moreThis dissertation argues that there are three basic types of health care systems used in industrial nations: free market (private insurance and provision), universal (public insurance and private provision), and socialized (public insurance and provision). It examines the role of market forces (supply and demand) within the health care systems and their effects on health outcomes by constructing an integrative model of health care markets and policies that is lacking within the scientific and academic literature. The results show that, free market systems have decreased access to care, good quality of care, and are economically inefficient resulting in 2.7 years of life expectancy lost and wasted expenditures (expenditures that do not increase life expectancy) of $3474 per capita ($1.12 trillion per year in the U.S.). Socialized systems are the most economically efficient systems but have decreased access to care compared to universal systems, increased access to care compared to free market systems and have the lowest quality of care of all three systems resulting in 3 months of life expectancy lost per capita and a saving of $335 per capita. Universal systems perform better than either of the other 2 systems based on quality and access to care. The models show that health insurance is a Giffen Good; a good that defies the law of demand. This study is the first fully demonstrated case of a Giffen good. This investigation shows how the theoretically informed integrative model behaves as predicted and influences health outcomes contingent upon the system type. To test and substantiate this integrative model, regression analysis, Time-Series-Cross-Section analysis, and structural equation modeling were performed using longitudinal data provided and standardized by the Organization for Economic Cooperation and Development (OECD). The results demonstrate that universal health care systems are superior to the other two systems.
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Date Issued
2018
Identifier
CFE0007335, ucf:52114
Format
Document (PDF)
PURL
http://purl.flvc.org/ucf/fd/CFE0007335