Second Assignment

Second Assignment - provided. People pay a certain price...

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Maxwell G. Miller February 13, 2007 Section 5 Second Written Assignment Reaction to “A New Strain on the Cost of Health Care” by Milt Freudenheim The reason that the cost of individual procedures have been going down is due to the fact that by reducing the cost, in turn there will be many more procedures being performed. If more procedures happen that means more money is flowing in and less is being wasted. If the demand for the medical procedures is high, then hospitals could make the price lower to allow more health insurance companies to pay for the service
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Unformatted text preview: provided. People pay a certain price for health care whether they use the service of not. If the public knows that if they have a need for the health care, and the quality of the procedure is better, then it is worth paying the extra money for a premium. Also, by increasing the quality of the instruments used and making it easier for doctors to perform these procedures, this decreases the time needed for the operation. If it takes less time to do the operation then that means more operations can be done in the extra time....
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This note was uploaded on 04/03/2008 for the course ECON 101 taught by Professor Gottlieb during the Spring '08 term at Rutgers.

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