Figure 7-5 Figure 7-5 represents the market for medical services with and without insurance, and the effect of a third-party payer system on the demand for medical services.
-Refer to Figure 7-5. With insurance and a third-party payer system, what price do doctors receive for medical services?

Question

Figure 7-5  Figure 7-5 represents the market for medical services with and without insurance, and the effect of a third-party payer system on the demand for medical services.
-Refer to Figure 7-5. With insurance and a third-party payer system, what price do doctors receive for medical services?

Quizplus · Accepted Answer

In a third-party payer system, doctors typically receive the full price set by the insurance, which is often higher than the out-of-pocket cost to patients. In this scenario, the price doctors receive is $65.

Figure 7-5 Figure 7-5 Represents the Market for Medical