Healthcare Economist July 19, 2024
If you go to the doctor or dentist in the US, you often can get a discount if you pay out of pocket as compared to paying through insurance. Why is that the case? Wouldn’t the physician like to get a big insurance company to pay them as compared to potentially incurring credit card fees for patient self payment? The reason why doctors don’t like insurance is because payment is slow, uncertain and administratively burdensome to their staff.
A recent paper by Sahni et al. (2024) first identifies the criteria for an efficient market system and shows that in the US health care is far from an efficient payment system.
Efficient financial transactions ecosystems from other industries and countries...
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