Areport from the Center for American Progress states that administration costs for health care in the United States are well above those in ohe igh-com 8.3 percent of spending in the health care sector, compared to a global average of about 3 percent. According to the report average biling and insurance-related costs per patient encounter include $215 for inpatient surgery. $62 for an emergency room visit and $20 for a primary care visit. The report noted that a structural overhaul of finance and pricing in the health care industry would greatly help in eliminating excess administrative costs, but moving to a complete single-payer health care system is not mandatory. According to the report seting uniform rates where al health insurers pay the same price for services would go a long way to reducing administrative costs Source: Sarah Ki, 2 charts that show eur health careadministrative costs are realy high" ver.com, April 2019. The article discusses the high administrative costs of health care in the United States. Even f private insurance companies were more efficient and brought administrative costs down consumers would equilibrium price and quantity the fll cost of medical treatment. This would resut in the market equibrum price and ouantity of medical services being than the efficient OA pay more than, more than OB. pay less than more than
Areport from the Center for American Progress states that administration costs for health care in the United States are well above those in ohe igh-com 8.3 percent of spending in the health care sector, compared to a global average of about 3 percent. According to the report average biling and insurance-related costs per patient encounter include $215 for inpatient surgery. $62 for an emergency room visit and $20 for a primary care visit. The report noted that a structural overhaul of finance and pricing in the health care industry would greatly help in eliminating excess administrative costs, but moving to a complete single-payer health care system is not mandatory. According to the report seting uniform rates where al health insurers pay the same price for services would go a long way to reducing administrative costs Source: Sarah Ki, 2 charts that show eur health careadministrative costs are realy high" ver.com, April 2019. The article discusses the high administrative costs of health care in the United States. Even f private insurance companies were more efficient and brought administrative costs down consumers would equilibrium price and quantity the fll cost of medical treatment. This would resut in the market equibrum price and ouantity of medical services being than the efficient OA pay more than, more than OB. pay less than more than
Chapter1: Making Economics Decisions
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Transcribed Image Text:A report from the Center for American Progress states that administration costs for health care in the United States are well above those in other high-income countries, accounting for
8.3 percent of spending in the health care sector, compared to a global average of about 3 percent. According to the report, average billing and insurance-related costs per patient
encounter include $215 for inpatient surgery. $62 for an emergency room visit, and $20 for a primary care visit. The report noted that a structural overhaul of finance and pricing in the
health care industry would greaty help in eliminating excess administrative costs, but moving to a complete single-payer health care system is not mandatory. According to the report.
setting uniform rates where all health insurers pay the same price for services would go a long way to reducing administrative costs.
Source: Sarah Kcan, 2 charts that show our health care administrative costs are really high"vox.com, April 201.
The article discusses the high administrative costs of health care in the United States. Even if private insurance companies were more eficient and brought administrative costs down,
consumers would
equilibrium price and quantity.
the full cost of medical treatment. This would result in the market equilbrium price and quantity of medical services being
than the efficient
O A pay more than; more than
O B. pay less than; more than
O C. pay more than; less than
O D. pay less than: less than
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