Economic Analysis of Supply and Market Structure of Healthcare Industry – Hospital
Your boss has asked you to write a memo detailing the factors impacting the supply of your product or services and how the market structure of your impacts the quantity supplied and the pricing of your product or service.
- Describe the product or service you supply to your patients.
- Identify the market structure of your industry and analyze the key characteristics of your industry that lead to your identification of this market structure.
- Given this market structure, evaluate how prices charged for your services/products are determined.
- Evaluate how does the existence of private and public insurance influence the revenues you receive for this service/product.
- Given the government regulations impacting the health industry that have been discussed in this class, identify and discuss a government regulation that has been implemented in this industry.
- Identify a market failure(s) discussed in class that the government regulation attempted to address.
In writing your report be sure to include your name and in the subject line identify the health care entity you chose above. In order for your boss to easily review your report, please include section headers to correspond to the questions below. The memo should be at least 4 double-spaced pages (excluding the cover page).