Frank W. Musgrave, Economics Department has published a book
Frank W. Musgrave, Economics Department has published a book entitled,
"The Economics of U.S. Health Care Policy: The Role of Market Forces."
The book includes some of the major policy issues covered are drug pricing,
Medicare reform , the medically uninsured, for-profit hospital monopoly price
power, managed care competitive pricing, and new negotiated markers. The
relevant economic concepts employed in the text include price elasticity of
demand/supply market structure from competitive to oligopolistic markers,
monopoly pricing power, measures of health care inflation and the biases of
the CPI, demand and supply factors, inverse relationship of present health
care expenditures as a percentage of GDP, measures/concepts of efficiency,
and the role of government in a market era. Also, consumer-directed health
care is features.