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Methods for Presenting Real-world Objects Under Controlled Laboratory Conditions
Published on: June 21, 2019
Price controls: on the one hand ... and on the other
1U.S. Congressional Budget Office.
Health Care Financing Review
|January 3, 1994
Summary
Controlling healthcare costs involves managing prices or service quantities. Market restructuring for price competition is an alternative to regulation, though its outcomes are less certain.
Area of Science:
- Health economics
- Healthcare policy
Background:
- Controlling rising healthcare costs is a major policy challenge.
- Historically, cost containment has focused on price controls.
- Regulatory price controls can lead to market distortions and affect access.
Purpose of the Study:
- To explore market-based approaches for healthcare cost containment.
- To analyze the potential of price competition among providers.
- To address the uncertainty surrounding market-oriented health reforms.
Main Methods:
- Analysis of healthcare cost control mechanisms.
- Comparison of regulatory versus market-based strategies.
- Review of economic principles applied to healthcare services.
Main Results:
- Prices are more measurable and controllable than service quantities.
- Regulatory approaches to price control can have unintended consequences.
- Market restructuring aims to foster price competition, but outcomes are uncertain.
Conclusions:
- Healthcare cost containment requires managing prices and/or quantities.
- Market-oriented reforms offer an alternative to direct price regulation.
- Further research is needed to understand the impact of market restructuring on healthcare costs and access.
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