Compare and contrast the market power of monopolistic and monopsony markets in health care.

Posted: September 6th, 2022

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 In this assignment you will examine competitive market models and competitive forces in health care economics. Prices, supply and demand, quality of care, consumerism, and provider compensation are affected by the competitive forces found in health insurance and in the labor market. There is a direct relationship between insurance models, the labor market, and the financial performance of health care systems. You will write a paper about the economics of health care market models, health care delivery structures, provider compensation, and financial risk for health care systems.
 State of florida
Instructions
Write a 6–8-page paper in which you:
Analyze your state’s current competitive market model in health care. 
Compare and contrast the market power of monopolistic and monopsony markets in health care.
Analyze the main competitive forces and the major factors that influence the fundamental manner in which the competitive forces determine prices, supply and demand, quality of care, consumerism, and providers’ compensation.
Evaluate the positive benefits and negative aspects, respectively, of HMO-managed care from the provider’s point of view—i.e., a physician and a health care facility—and from a patient’s point of view. Provide a rationale for your response.
Assess the efficiency of the types of economic incentives available to providers in the delivery of health care services in your own state.
You will research your state and explain the healthcare structure in terms of who the players are and the market based on the public and private payers. This is public payers like Medicare and Medicaid and Private insurers like Blue Cross Blue Shield and Cigna. What is the percentages in your state?
Who are the competitors and how do the competitors influence price, supply and demand, and quality of healthcare. Hospital Compare will be a good site to review. https://www.medicare.gov/care-compare/?providerType=Hospital&redirect=true Who competes in the private and public sectors?
 Sources
https://hbr.org/1979/03/how-competitive-forces-shape-strategy
https://www.businessnewsdaily.com/5446-porters-five-forces.html
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4805716/
https://www.leapfroggroup.org/ratings-reports?gclid=EAIaIQobChMI1Ji8lv_y9QIVx-DICh1U6Ad0EAAYASABEgJcSvD_BwE

South Florida leads the pack in transforming health care: An executive discussion


https://ballotpedia.org/Healthcare_policy_in_Florida
https://academyhealth.org/sites/default/files/publications/files/FileDownloads/AHTransformingHealthCareDelivery.pdf
http://edr.state.fl.us/content/presentations/affordable-care-act/HealthCareSpending_Economics_Oct2015.pdf
https://www.econstor.eu/bitstream/10419/37056/1/61809220X.pdf
https://www.openmarketsinstitute.org/learn/hospitals-monopoly
https://link.springer.com/article/10.1007/s10198-018-0959-1

Reading: Monopoly and Monopsony: A Comparison


https://www.investopedia.com/ask/answers/032415/whats-difference-between-monopoly-and-monopsony.asp
https://www.nber.org/system/files/working_papers/w26122/w26122.pdf
https://obamawhitehouse.archives.gov/sites/default/files/page/files/20161025_monopsony_labor_mrkt_cea.pdf

Monopsony and market power in the labor market

Monopoly and Monopolistic Competition (Similarities and Dissimilarities)


https://courses.lumenlearning.com/boundless-economics/chapter/monopolistic-competition/

Difference Between Monopoly and Monopsony


https://ratings.leapfroggroup.org/?gclid=EAIaIQobChMInMCsqf_y9QIVhoTICh2y6wmdEAAYAiAAEgJvofD_BwE
https://www.cms.gov/Medicare/Quality-Initiatives-Patient-Assessment-Instruments/HospitalQualityInits/HospitalCompare

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