Every year more and more importance is given to the relationship between the economy and healthcare. This is due to the fact that these two systems are closely interrelated and have a direct impact on each other. There is a particular area called health economics, which studies how the activities of the parties involved in the medical services industry affect costs and overall results. Hence, this scientific work aims to determine how market competition contributes to the formation of market failure in healthcare.
First of all, it is necessary to gain an understanding of what a market failure is. It is defined as the occurrence of an uneven distribution of goods and services (Cohen & Flood, 2022). In order to avoid such negative consequences as deterioration of the quality of care provided and the health of patients, it is necessary to limit unnecessary activities and implement new approaches. One of them is competition in the market, which on the one hand can have a number of advantages. At the same time, competition on the market can cause an increase in prices for certain medicines and lead to a significant turnover of specialists, which requires an immediate solution.
In conclusion, it should be emphasized that market competition is of particular value for the formation of proper development of healthcare. However, such a phenomenon as market competition may also have a negative outcome. Thus, increased competition can lead to a constant jump in prices, cancellation, or deterioration of the technological aspects due to the deterioration of their work. Therefore, organizations providing medical services should focus on the healthcare market and conduct research on how it affects the provision of services.
References
Cohen, D., & Flood, C. (2022). Health economics. Health Studies, 269-294.
Appendix A
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Begin each appendix on a new page with the word “Appendix” at the top center. Use an identifying capital letter (e.g., Appendix A, Appendix B, etc.) if you have more than one appendix. If you are referring to more than one appendix in your text, use the plural appendices (APA only).
Label tables and figures in the appendix as you would in the text of your manuscript, using the letter A before the number to clarify that the table or figure belongs to the appendix.
Appendix B
Demographic Information for Cummings et al. (2002)’s Review
If an appendix consists entirely of a table or figure, the title of the table or figure should serve as the title of the appendix.