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Health Economics & Policy 3 rd Edition James W. Henderson

Health Economics & Policy 3 rd Edition James W. Henderson. Chapter 8 The Market for Health Care Professionals. The Theory of Labor Markets. Input pricing Demand for inputs Human capital investment Discounting and the rate of return on investment in human capital.

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Health Economics & Policy 3 rd Edition James W. Henderson

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  1. Health Economics & Policy3rd EditionJames W. Henderson Chapter 8 The Market for Health Care Professionals

  2. The Theory of Labor Markets • Input pricing • Demand for inputs • Human capital investment • Discounting and the rate of return on investment in human capital

  3. Specialty and Geographic Distribution • Primary care-specialty care • Urban-rural

  4. Active Physicians in the U.S.

  5. Physician Compensation • Pricing physician services • Organization of physicians’ practices

  6. Medical Practice Incomes of Physicians, Net of Expenses

  7. Models of Physician Behavior • Monopolistic competitor • Imperfect agent

  8. Controlling Physician Behavior • Do physicians respond to incentives? • Empirical evidence on impact of financial incentives • Randomized trials (RAND experiment) • Same disease studies (Epstein, Begg, and McNeil, 1986) • Same physician studies (Welch, Hillman, and Pauly, 1990; and Murray et al., 1992)

  9. Demand Inducement • Theory • Evidence

  10. The Market for Nursing Services

  11. The Market for Dental Services

  12. Summary and Conclusions • Motives for pursuing medical career • Changing incentive structure beginning to have an impact

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