Figure 7-4 Figure 7-4 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 7-4. With insurance and a third-party payer system, what price do doctors receive for medical services?

Question

Figure 7-4  Figure 7-4 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 7-4. 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, the price doctors receive is typically higher than the out-of-pocket cost to patients, which is often subsidized by insurance. In this scenario, the price doctors receive is $55.

Figure 7-4 Figure 7-4 Represents the Market for Medical