The economic theory of market competition has been at the forefront of many arguments calling for the restructuring of t

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The Economic Theory Of Market Competition Has Been At The Forefront Of Many Arguments Calling For The Restructuring Of T 1 (88.11 KiB) Viewed 51 times

The economic theory of market competition has been at the forefront of many arguments calling for the restructuring of the American healthcare system. Some policy makers claim that a competitive market brings efficiency to a costly system, as well as greater social welfare. Since the 1990's healthcare reforms show evidence that supports increased competition slows the growth of costs, but less support is available for the efficiency claim. During that same period, uninsured and underinsured were increasing, as were complaints that the corporatization of health care was decreasing the quality of care. Since the enactment of the Affordable Care Act in 2010, the issue with no/low coverage was addressed, however the impact on costs has led to some policy-makers calling for a repeal of the act. replacing it with a yet-to-be-defined alternative. Because economic theory and research help guide policy makers by providing them with supporting information, healthcare economists believe that careful evaluation of the assumptions on which economic theory is based are still valid when discussing healthcare. Answer the following question. Support your answer from your textbook. Follow the discussion board rubric. Mercy Hospital is a faith-based facility organized as a non-profit corporation. Which economic assumption is called into question for this type of organizational status?