Asked by
Nelson Ayonab
on Dec 11, 2024
Verified
Economic analysis indicates that the increasing government expenditures and growth of third-party payments accompanying the Medicare and Medicaid programs
A) reduced the demand for healthcare services.
B) reduced the incentive of consumers to economize on their use of healthcare.
C) increased the incentive of consumers to economize on their use of healthcare.
D) placed downward pressure on the prices of healthcare services.
Third-Party Payments
Transactions where a person or entity other than the direct participants (buyer and seller) undertakes to cover the cost or payment, commonly found in healthcare and insurance industries.
Medicare
A federal health insurance program in the United States primarily for people aged 65 and older, as well as for some younger people with disabilities.
Medicaid
A social health care program for families and individuals with low income and resources.
- Acknowledge the consequences of subsidies and third-party payments on healthcare pricing and the incentives for individuals to economize.
- Grasp the involvement of third-party coverage in the elevation of healthcare expenditures and the techniques to control healthcare expenses.
Verified Answer
DM
Learning Objectives
- Acknowledge the consequences of subsidies and third-party payments on healthcare pricing and the incentives for individuals to economize.
- Grasp the involvement of third-party coverage in the elevation of healthcare expenditures and the techniques to control healthcare expenses.