The Eighth Edition of this key textbook has been revised and updated throughout, and reflects changes since the implementation of the Affordable Care Act ACA. In addition to its revised treatment of health insurance, the text also introduces the key literature on social capital as it applies to individual and public health, as well as looking at public health initiatives relating to population health and economic equity, and comparing numerous policies across Western countries, China, and the developing world. It provides up-to-date discussions on current issues, as well as a comprehensive bibliography with over 1, references. Extra material and teaching resources are now also available through the brand new companion website, which provides full sets of discussion questions, exercises, presentation slides, and a test bank. Students in traditional economics programs as well as public health and nursing programs will appreciate the insights the book offers into the rapidly growing field of health economics.
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This best-seller examines health care economics through core economic themes rather than concepts unique to the health care economy. The Sixth Edition updates content to reflect the major changes in the health policy arena.
From the Publisher: This comprehensive introduction to the economics of health and health care thoroughly develops and explains economic ideas and models and reflects the full spectrum of the most current health economics literature. It provides students with a solid working knowledge of the analytical tools of economics and econometrics as applied to contemporary health care issues.
From the Inside Flap: Preface This is the third edition of a book that was conceived in and first published in To indicate how much the world of health economics has changed, the first edition made a single reference to "managed care," and that was in the context of monopoly power in the provision of health care. In addition, the debate on the Clinton health plan illuminated a large set of issues that invigorated the discipline of health economics. This book was first written to assist health economics instructors in developing a clear, step-by-step understanding of health economics for their students.
We also believe that it is important for instructors to show what health economics researchers are doing in theory and in empirical work. The book synthesizes contemporary developments around a set of basic economic principles, including maximization of consumer utility or well-being and economic profit, wishing to make these principles accessible to undergraduate students, as well as to graduate students.
Rather than organizing the book around the institutions specific to the health care economy, we have used core economics themes as basic as supply and demand, as venerable as technology or labor issues, and as modern as the economics of information. Moreover, we have sought to improve accessibility to the book for the wide range of health services students and practitioners whose knowledge of economics may be more limited. We have followed the philosophy that students must have a working knowledge of the analytical tools of economics and econometrics to appreciate the field of health economics.
Some students may be ready to plunge directly into Cost-Benefit Analysis chapter 4 or The Production of Health chapter 5 upon completion of the introductory chapter 1. However, chapters 2 Microeconomic Tools and 3 Statistical Tools allow the students and their teachers to develop or to review the needed analytical concepts before tackling the core subject matter.
In chapters 2 and 3, students with as little as one semester of microeconomics may review and study how economists analyze problems, using examples that are relevant to health economics. No calculus is needed.
Consistent with an emphasis on clarity of exposition, this book makes extensive use of graphs, tables, and charts. Discussion questions and exercises are provided to help students master the basics and to prompt them to think about the issues. Features on up-to-date applications of theory and policy developments are also included, as well as the occasional tidbit containing purely background information.
Finally, we caution that some of the chapters, such as those on insurance, although devoid of advanced mathematics, may still require considerable effort. No painless way is available to appreciate the scope of the contributions that scholars have made in recent years. These sections can be omitted without detracting from the flow of the book.
More advanced students of the health care economy who wish to be challenged further can utilize a comprehensive references section, with more than sources, so that their and our work can be enriched through referral to the original sources. It is critical that this textbook contain the most current knowledge and address the needs of our readers. As with the second edition, almost every chapter is revised to incorporate significant developments in the field.
In response to the instructors and students who use this book, we have moved the chapter on cost-benefit analysis forward, so that it is now chapter 4. We have made major changes in the treatment of insurance and managed care. Also in response to user demand, we have broken up a single health insurance chapter into two components. Insurance chapter 7 , which looks at the individual determinants of insurance, now precedes Consumer Choice chapter 8 , as well as a set of chapters on important, related economic topics.
The Organization of Health Insurance Markets chapter 11 , which looks at the development of health insurance markets and asks the question "who pays? In this chapter, we make a major effort to link theoretical models and empirical findings. The section on governmental actions regarding the health economy has been reorganized. Chapter 20 looks at conceptual issues regarding government intervention in health care markets; chapter 21 investigates the principal regulatory mechanisms, including antitrust policy.
These are followed by an updated chapter 22, which includes information about the changes to Medicare and Medicaid. Finally, we finish the book with two new chapters. Chapter 25 looks at economic "bads. Chapter 26 is an entirely new chapter on pharmaceuticals.
Rather than a simple "industry study," we look at those portions of the pharmaceutical industry with particularly novel economic contents. These include questions as to the optimal combinations of drug therapies and other economic technologies, the appropriate amount of patent protection that an industry in this case the pharmaceutical industry should enjoy, and price discrimination by pharmaceutical firms or why drugs are cheaper in Mexico than in the United States.
Another change involves the emergence of Internet resources for students and scholars. Tables and charts that were once available only in book form, and then only after several years, are now available much more quickly, and are often available on the Internet long before they are available if at all in print.
The downside to this explosion of information involves editorial oversight not all sources are good ones and frustrating tendencies for Internet sites to disappear. We have chosen to focus on governmental sites such as the following for references that we believe to be both long lasting and reliable. National Institutes of Health nih. Alternative Course Designs As a developing field, the economics of health and health care has an evolving body of literature, and there is no single "correct" order for the course design.
Economists particularly U. Students and scholars of public health assign the governmental sector far more importance; it is "public" health. Unfortunately, a text is necessarily linear in that one chapter has to follow another. The Economics of Health and Health Care offers instructors considerable flexibility. We have divided the 26 chapters into nine parts: Basic Economic Tools chapters Supply and Demand chapters Information chapters Insurance and Organization of Health Providers chapters Technology chapters Labor chapters Hospitals and Nursing Homes chapters Social Insurance chapters Policy Issues and Analyses chapters The categories are not entirely exclusive.
Chapter 7, looking at the demand and supply of insurance, is as important to part 4 on insurance as it is to part 2 on demand and supply of goods. From front to back, the organization follows an "economics" model in which consumers and firms are first analyzed in a world without government and governmental policies.
As a result, explicit discussions of government policies do not come until chapter 19, although regulation, licensing, mandates, and the like are discussed in reference to other topics much earlier. Many economics instructors may wish to follow the chapters in the order of the book. Other instructors, particularly those who are interested in public health and in governmental policies, may wish to "tool up" on some of the earlier analyses, and then skip directly to parts 8 and 9, in which we look at social insurance, health care regulation, and health care reform.
After that, they may wish to browse selected topics. Although some analyses build on each other within chapters, we have sought to minimize cross-referencing among chapters. New Instructional Materials We are pleased to provide our users with two new features.
With the increased use of our book for professional, as well as distance education, the manual will prove invaluable for teachers in both traditional and nontraditional settings. Instructors should contact their Prentice Hall sales representative for the user identification number and password to access the faculty resources.
ISBN 13: 9780136080305
Supplier-induced demand explained In economics , supplier induced demand SID may occur when asymmetry of information exists between supplier and consumer. The supplier can use superior information to encourage an individual to demand a greater quantity of the good or service they supply than the Pareto efficient level, should asymmetric information not exist. The result of this is a welfare loss. Health economics The doctor-patient relationship is key to the practice of healthcare and is central to the delivery of high quality efficient care while maintaining costs.
The Economics of Health and Health Care : International Student Edition, 8th Edition
Information and Insurance Markets Learn More — opens in a new window or tab Any international postage and import charges are paid in part to Pitney Bowes Inc. Hospitals and Long-Term Care Ch. Supply and Demand Ch. Learn more — opens in a new window or tab. These 2 locations in Queensland: Email to friends Share on Facebook — opens in stanl new window or tab Share on Twitter — opens in a new window or tab Share on Pinterest — opens in a new window or tab Add to Watch list.