What is the relevance of the concepts of supply and demand,free market,and price sensitivity with regard to health care costs?

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The concepts of supply and demand, free market, and price sensitivity are relevant to health care costs because consumer insensitivity to costs has increased the demand for health care services. In a free market, prices would be determined by supply and demand, but in the health care industry, third-party payers (such as insurance companies or government programs) often pay for the majority of health care services. This has led to consumers being less sensitive to the cost of health care services, driving up demand and ultimately, costs.

What Is the Relevance of the Concepts of Supply and Demand,free