In healthcare, much of the conversation centers around what happens after people get sick: treatments, surgeries, hospitalizations, and expensive medications. But the most cost-effective and humane approach to improving health is often the one that gets the least attention and the least funding: prevention. Preventive care is not glamorous. It doesn’t generate headline-grabbing breakthroughs […]
Tag: Externalities
Healthcare is an industry where economic principles often clash with reality. While the ideal market relies on efficiency and balance — where supply and demand are in equilibrium — healthcare defies these norms. Market failures occur when resources are not allocated efficiently. Four primary sources of market failure in healthcare are market power, asymmetric information, […]