Calculate the price elasticity of demand for healthcare in Japan using on data from year 2000. Region Outpatient visits Price/ visit Tokyo 1.0/ month 30 Hokkaido 1.2/ month 15

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Designers of National Health Insurance proposals have been greatly concerned with a number of questions. What would happen to the quantity of various services demanded if prices to patients were cut to zero or were cut 75 percent? Knowledge of elasticities is crucial to answering these questions. In a recent study of the demand for dental care, Manning and Phelps estimated price elasticities separately for adult females, adult males, and children. Their results were as follows: a. b. C. d. Service Cleanings Fillings Extractions Examinations Dentures Crowns Orthodontia Adult Females .79 .58 -.21 .56 .59 -.54 Adult Males .14 .73 1.51 .03 -2.20 -.89 Children 1.34 .95 .97 .59 1.70 .08 Source: W.G. Manning, Jr. and C.E. Phelps, "The Demand for Dental Care," The Bell Journal of Economics, Autumn 1979, pp. 503-525. If prices to all patients were cut, would expenditure on examinations rise or fall? Why? {Note: Negative entries in the table refer to Giffen goods.} For which service would a…

Price ($) 100 SO 20 $1,600 $800 Demand $12,000 $1,200 Demand (under coinsurance) 100 120 Supply In the above figure, the decreased coinsurance rate leads to deadweight loss of ___ Quantity of care (visits)

Page 11 of 11 1707 words KX Zix Accessibility: Investigate 10. Cost Shifting The following figure represents a hospital facing both private and Medicare patients. Please use the graph to answer the following questions. Hospital Payment ($) 0 B Patients (Hospital Admissions) A. If Medicare decides to cut the DRG price, what will be the effect on the number of private and Medicare patients served by the hospital. Please draw the new demand curves and label the new number of patients in the graph above and discuss the effect briefly. B. What is the concept of cost-shifting? What does the above analysis tell you about cost-shifting? Display Settings Focus + 1009

Based on the data presented in the table below estimate elasticity of demand for two price changes:  a) price increase from $3 to $9 per hour; and b) price decrease from $9 to $3 per hour. Make sure to use the midpoint formula. Price Per Hour of Therapy Demand for Therapy 0 16 1 15 2 14 3 13 4 12 5 11 6 10 7 9 8 8 9 7 10 6 11 5 12 4 13 3 14 2 15 1 16 0

Price controls decrease the innovation rate for drugs but make existing drugs more affordable. True False

In the presence of insurance coverage, over the counter purchases of drugs like acetaminophen, ibuprofen and naproxen sodium will have a higher elasticity of demand than physician prescribed drugs.  True  False

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What does income elasticity of demand mean for insurance companies and medical providers for making a decision?