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Thinking straight about medical costs

Health affairs (Millwood, Va.), 1994-01, Vol.13 (5), p.8 [Peer Reviewed Journal]

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Title:
Thinking straight about medical costs
Author: Aaron, Henry J
Subjects: Econometrics ; Health care expenditures ; Health care industry ; Health care policy ; Health insurance ; Hospital costs ; Insurance coverage ; Legislation ; Medicaid ; Medicare ; Middle class ; Per capita ; Price levels ; Prices ; Regulation ; Statistical analysis ; Trends ; Uninsured people
Is Part Of: Health affairs (Millwood, Va.), 1994-01, Vol.13 (5), p.8
Description: In discussing health costs, one needs to keep straight which facts are known with some certainty and which allegations remain arguable. One simple economic concept helps to clarify matters: expenditure equals price multiplied by quantity. Only expenditure is directly observable, price and quantity are not. The key point, which many seem not to recognize, is that to know price or quantity one has to know both. The problem is in not knowing how to measure quantity. The character of health care services is changing at blinding speed, and no market evaluations of these services exist to permit comparisons among services and over time.
Publisher: Chevy Chase: The People to People Health Foundation, Inc., Project HOPE
Language: English
Identifier: ISSN: 0278-2715
EISSN: 2694-233X
Source: ProQuest Central

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