Indicate whether the statement is true or false, and justify your answer.In the RAND HIE, the arc elasticity of demand for inpatient care was larger (in absolute value) than the arc elasticity of demand for outpatient care.

Indicate whether the statement is true or false, and justify your answer.In the RAND HIE, the arc elasticity of demand for inpatient care was larger (in absolute value) than the arc elasticity of demand for outpatient care.

EBK HEALTH ECONOMICS AND POLICY

7th Edition

ISBN:9781337668279

Author:Henderson

Publisher:Henderson

Chapter8: Managed Care

Section: Chapter Questions

Problem 8QAP

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Concept explainers

Medical Care Systems

In this modern world, good health is one of the most crucial assets for society. Maintaining good health in the present environment is a big task for both medical care providers and sick persons. It is the high cost of medical care services that makes the whole system more complex. To simplify the medical care system, various entities, such as insurance companies, the government, and investors have become a part of it. In broader terms, the medical care system is the health care system in which various peoples, institutions, organizations, and other resources provide healthcare services to meet the desired health needs of target populations.

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Indicate whether the statement is true or false, and justify your answer.
In the RAND HIE, the arc elasticity of demand for inpatient care was larger (in absolute value) than the arc elasticity of demand for outpatient care.

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