Pricing health services: Transaction cost approach
(Sprache: Englisch)
According to the assumptions of classical economics, the price should be set at the intersection of the supply and demand curve under the assumption of full information and rationality of market participants. However, in health care pricing is often...
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According to the assumptions of classical economics, the price should be set at the intersection of the supply and demand curve under the assumption of full information and rationality of market participants. However, in health care pricing is often regulated and price is set by the regulatory body. Due to the fact that the regulations in terms of pricing include activities that lead to price-setting of a good (health service), costs associated with these activities should be treated as transaction costs.The study is the result of the research on the transaction costs of the pricing of health services. The primary objective of the study is to identify the transaction costs occurring during the pricing of health services and characterize the factors that affect the level of transaction costs. An additional objective of this study is to link the conclusions about the level of transaction costs to the conclusions regarding the accuracy of the cost-based pricing in health care.
The empirical part of the work was carried out based on the analysis of primary and secondary sources. Its aim was to present how pricing is organized in seventeen countries selected.
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Text Sample:Chapter Introduction:
Objective of the study
The characteristic of health services, being an example of universal services , is associated with a number of features (such as information asymmetry, adverse selection, risk selection and moral hazard) that lead to market failures and the presence of externalities or monopolization . These features are universal for health care in virtually all socio-economic systems. Characteristics of health services combined with their extraordinary social importance requires the need of their regulation by the state.
One of the primary areas of possible state interference is the organization of the pricing process. Pricing of health services are all activities performed to determine the price of individual health services and to update them. State interference in this area may include the determination of pricing procedure and the appointment of the institution responsible for this process. The price of each of health services in such conditions is determined ex ante or ex post and applies to all transactions between the payer and all providers.
The analysis of international experience shows that under regulated pricing often involves setting prices on the basis of information on the costs of their provision . Previous research conducted by the author on the pricing of health services have shown that the proper basis for determining the prices of such services is cost information set using cost accounting model that meets certain criteria, including the rules of causality, efficiency and neutrality .
Traditionally the analysis of the role of cost information in pricing of health services applies only to how should the cost of service provision be determined. The research focus on the methodology of cost accounting used in the pricing process. They show that the most accurate cost accounting models, that guarantee the highest accuracy of pricing, are based on a bottom-up microcosting approach, according to which
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the cost of each service is determined based on its actual process .
This traditional approach ignores the problem of how much costs the pricing itself, treating it as an exogenous factor. Inclusion of the institutional approach in the analysis involves identifying what are the transaction costs of the pricing process and which factors affect them. Each pricing transaction, which does not take place in the open market, requires the establishment of appropriate institutions resulting in positive transaction costs. The level of transaction costs depends e.g. on the number of subjects involved in the pricing or on the type of cost data collected. Some authors link the transaction costs in health care with institutional arrangements, although their works are limited mostly to the specific situation in health care - the organization of coordinated care .
The study is the result of the research on the transaction costs of the pricing of health services. Due to the fact that the regulations in terms of pricing include activities that lead to price-setting of a good (health service), costs associated with these activities should be treated as transaction costs. According to the assumptions of classical economics, the price should be set at the intersection of the supply and demand curve under the assumption of full information and rationality of market participants.
The primary objective of the study is to identify the transaction costs occurring during the pricing of health services (and relate these cost to the institutional environment and the organization of pricing transaction) and characterize the factors that affect the level of transaction costs - to present the force and direction of the relationship between each of the factors and the level of transaction costs.
An additional objective of this study is to link the conclusions about the level of transaction costs to the conclusions regarding the accuracy of the cost-based pricing in health care.
This traditional approach ignores the problem of how much costs the pricing itself, treating it as an exogenous factor. Inclusion of the institutional approach in the analysis involves identifying what are the transaction costs of the pricing process and which factors affect them. Each pricing transaction, which does not take place in the open market, requires the establishment of appropriate institutions resulting in positive transaction costs. The level of transaction costs depends e.g. on the number of subjects involved in the pricing or on the type of cost data collected. Some authors link the transaction costs in health care with institutional arrangements, although their works are limited mostly to the specific situation in health care - the organization of coordinated care .
The study is the result of the research on the transaction costs of the pricing of health services. Due to the fact that the regulations in terms of pricing include activities that lead to price-setting of a good (health service), costs associated with these activities should be treated as transaction costs. According to the assumptions of classical economics, the price should be set at the intersection of the supply and demand curve under the assumption of full information and rationality of market participants.
The primary objective of the study is to identify the transaction costs occurring during the pricing of health services (and relate these cost to the institutional environment and the organization of pricing transaction) and characterize the factors that affect the level of transaction costs - to present the force and direction of the relationship between each of the factors and the level of transaction costs.
An additional objective of this study is to link the conclusions about the level of transaction costs to the conclusions regarding the accuracy of the cost-based pricing in health care.
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Bibliographische Angaben
- Autor: Monika Raulinajtys-Grzybek
- 2015, 164 Seiten, Maße: 15,5 x 22 cm, Kartoniert (TB), Englisch
- Verlag: Anchor Academic Publishing
- ISBN-10: 3954893746
- ISBN-13: 9783954893744
Sprache:
Englisch
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