Pick one of the following healthcare industries listed below. Using what you have learned so far about market structure and the impact on supply and demand, write 7 pages report (double-spaced) addressing the following questions:
- From what you have learned in class and research you have done on-line what is the market structure of that industry (e.g perfectly competitive, oligopoly, monopoly, other)
- What are the implications of the market structure on the demand and supply curve and price of the services offered?
- What is the implication of third-party payers like private health insurance or federal programs like Medicare and Medicaid on demand and supply in this industry?
- How has the government intervened in the industry and what was the economic rationale for the intervention? Was there a market failure or other rationale for intervention? Discuss
Choose one of the following industries to discuss the answers to the above questions:
a. Pharmaceutical Industry
b. For-profit health insurers
c. Not-for profit health insurers
d. Any physician specialty (e.g. cardiology, ophthalmology, etc.)
e. Hospital (national Network)
f. Small rural hospital