- Third Party Payer Market Suppose That Co Payments Are Set At 20 Per Doctor Visit And Quantity Demanded Is 60 From Pati 1 (75.8 KiB) Viewed 8 times
Third-Party Payer Market -Suppose that co-payments are set at $20 per doctor visit and quantity demanded is 60 from patients -In order for doctors to supply 60 doctor visits the price has to be $100 -Suppose that in a regular market (no third-party), the equilibrium price is $60 and the quantity is 30 Questions: 1. What are the total out of pocket costs for patients? 2. What are the total third-party payer (insurance company) costs? 3. What are the total costs in a third-party payer market? 4. What are the total costs in a regular market (no third-party)? 5. Why is there a difference between a regular market and a third-party payer market in regards to total costs? What is the difference? 6. ***Graph the market on a piece of paper/tablet. Please make sure that you label all of the key points and information on the graph and submit a picture or file of your graph below your short answers into the textbox below. Please make sure that your image is NOT an HEIC or HEIF file. You should upload your image as a JPEG file, PNG file, etc. ****