In monopolistic competition many companies sell

Info icon This preview shows pages 3–4. Sign up to view the full content.

View Full Document Right Arrow Icon
bar other companies from engaging in the same business. In monopolistic competition, many companies sell different products in the equal commerce. The healthcare industry has changed significantly due to competition. Several studies conducted have revealed that competition increases the quality of health care (Jung & Polsky, 2013). Customers are also at the advantage of enjoying improved services hence increased customer satisfaction. In healthcare, competition involves basics such as price, excellence, and convenience. Competition around healthcare is based on preclusion, analyses, treatment of detailed ailments and improved services. Healthcare considers race as a vital role in development (Gaynor & Ginsburg, 2017). It involves workers, patients, healthcare providers and those paying for the services. Healthy competition is when the physicians compete to find a cure for various ailments and also provide the best health care than others. The medics may even compete in the market to eliminate competition from non-physicians such as psychologists and podiatrists (Gaynor & Ginsburg, 2017). Another component in health care includes administrations that deliver health care amenities such as hospitals and other health service organizations. In such an element, hospitals compete for doctors, third-party payers, and patients (Jung & Polsky, 2013).
Image of page 3

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern