The Economics of Health Reconsidered

by Thomas H. Rice, Lynn Unruh

This book reconsiders the field of health economics as it is traditionally taught and practiced. It critically examines economic theory as applied to the health sector and questions the prevailing belief that a competitive healthcare marketplace results in the best outcomes. New information, including an overview of standard microeconomic theory, makes this new edition an ideal stand-alone text for health economics and health policy courses. Expanded and thoroughly updated, this edition A new chapter on traditional microeconomic theory that includes an overview of demand, supply, competition, monopoly, and social welfare, an expanded overview of the role of government, added information about market competition and the implications for health policy, expanded information about the demand for health insurance and health services, a new chapter discussing for-profit versus nonprofit organizations in healthcare, including specialty hospitals and the nursing home and pharmaceutical industries, a new chapter on healthcare-workforce issues including the markets for physicians and nurses, an update on the different ways developed countries can and have organized their healthcare systems

475 pages, Hardcover

First published January 1, 1998

Reviews

[Andrew Partington · Rating 5 out of 5]

Provides a systematic and cutting critique of the role of markets in health care. Table 3.1 "Assumptions of Market Competition and Their Further Treatment in the Remaining Chapters" can be used as a list for documenting the assumptions required to support market competition, all of which Rice & Unruh dissect using uncontroversial evidence. The authors demonstrate why the General Theory of Second Bests doesn't apply to health care.