Agency theory: new insights into the health care industry.
The economic theory of agency deals with the relationship that arises when one individual delegates authority to another. It offers powerful insights into the organization of health care delivery systems. This paper examines how relationships between doctors, patients, and hospitals can be explored within an agency framework and applied to institutional, fee-for-service, and HMO settings.
D003284:Contract Services / Q000592:standards*; D004651:Employment; D005376:Financial Management / Q000592:standards*; D006298:Health Services Administration; D006801:Humans; D008962:Models, Theoretical; D009014:Morals; D010817:Physician-Patient Relations; D010818:Practice Patterns, Physicians' / Q000191:economics*; D011678:Punishment; D012201:Reward; D014481:United States