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economics of healthcare in the uk
Date Submitted: 10/04/2000 07:09:59
Length: 1 pages (317 words)
Views: 29658
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…care the patient is not educated enough about medicine to choose between two treatments and must therefore go with what the doctor recommends. This imbalance of knowledge gives the healthcare industry suppliers monopoly power. A healthcare supplier could lower the standard of service and not fear loss of customers. A doctor may also recommend a treatment that is costly and therefore will bring in higher profit for himself without the average person knowing any better.
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