The big cost of big medicine – calculating the rent in private healthcare

IF 1.6 Q2 ECONOMICS

REVIEW OF SOCIAL ECONOMY Pub Date : 2020-08-11 DOI:10.1080/00346764.2020.1804607

Mark Stelzner, D. Nam

引用次数: 1

Abstract

ABSTRACT As a country, the United States spends significantly more on healthcare than other advanced industrialized countries, and Americans have comparably worse health outcomes. Both are developments of the last four decades. In this paper, we look at how change in antitrust and patent law and thus change in market power in the largest four subsectors of healthcare, hospitals, physician groups, prescription drugs, and net medical insurance, have contributed to the increasing cost of medical care in the United States. We show that the annual rent – the degree to which health care is overpriced as a result of market power – was between 2.47 and 4.30 percent of GDP in 2016 – truly a big cost for big medicine.

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大药的大成本——计算私人医疗机构的租金

作为一个国家，美国在医疗保健方面的支出明显高于其他发达工业化国家，而美国人的健康状况相对较差。两者都是过去四十年的发展。在本文中，我们研究了反托拉斯法和专利法的变化，以及医疗保健、医院、医生团体、处方药和净医疗保险这四个最大的子部门的市场力量的变化，是如何导致美国医疗保健成本上升的。我们的研究表明，2016年，年租金(市场力量导致医疗保健价格过高的程度)占GDP的2.47%至4.30%，这对大型医疗机构来说确实是一笔巨大的成本。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

REVIEW OF SOCIAL ECONOMY ECONOMICS-

CiteScore

2.60

自引率

10.00%

发文量

期刊介绍： For over sixty-five years, the Review of Social Economy has published high-quality peer-reviewed work on the many relationships between social values and economics. The field of social economics discusses how the economy and social justice relate, and what this implies for economic theory and policy. Papers published range from conceptual work on aligning economic institutions and policies with given ethical principles, to theoretical representations of individual behaviour that allow for both self-interested and "pro-social" motives, and to original empirical work on persistent social issues such as poverty, inequality, and discrimination.