Equity and efficiency in health care.
Adam Smith's belief that markets will make society more equitable and efficient is examined in the case of reforms to make health care more competitive. Eight ways in which health care does not often satisfy the requirements for competitive markets, and nine ways in which providers can manipulate markets are identified. The concept of 'embedded inefficiencies' is introduced to explain why competition may not increase efficiency.
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University of Medicine and Dentistry of New Jersey, Camden 08103.
D003284:Contract Services / Q000191:economics / Q000639:trends; D003363:Cost Control / Q000639:trends; D005060:Europe; D006297:Health Services Accessibility / Q000191:economics / Q000639:trends*; D006801:Humans; D008389:Marketing of Health Services / Q000191:economics / Q000639:trends*; D010043:Outcome and Process Assessment, Health Care / Q000379:methods*; D014481:United States