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Homework answers / question archive / What are 2-3 imperfections that impact medical markets and prevent optimal efficiency? In what ways do these imperfections negatively impact providers and the supply of healthcare services? What about the consumers on the demand side of the equation?
What are 2-3 imperfections that impact medical markets and prevent optimal efficiency? In what ways do these imperfections negatively impact providers and the supply of healthcare services? What about the consumers on the demand side of the equation?
The imperfection of medical market that do not lead optimal efficiency are- the imperfect or asymmetric information existing in the medical market and the negative externality caused by the medical wastages.
This imperfection negatively impact both the providers and the supply of health care services. They do not get their optimal pay. It will raise premiums of health care providers, the coverage will be lower which will lessen health insurance exchanges.
The consumer health expenditure and cost will increase which will decrease their demand for health care services
