An Economic Perspective of Healthcare Prices in the United States

dc.contributor.advisorKelly, Mark
dc.contributor.authorJunn, John
dc.contributor.departmentEconomics.
dc.contributor.otherBaylor University.en
dc.contributor.schoolsHonors College - Honors Program
dc.contributor.schoolsUniversity Scholar - Honors Program
dc.date.accessioned2024-05-16T14:17:24Z
dc.date.available2024-05-16T14:17:24Z
dc.date.copyright2024
dc.date.issued2024
dc.description.abstractThe United States currently leads the world in health expenditures despite ranking below the median for health outcomes among countries from the Organization for Economic Cooperation and Development (OECD). Despite knowledge of the United States’ overwhelming and exorbitant spending, the general public does not understand much of what contributes to this problem. In this thesis, we initially provide extensive literature that reveals that prices are the strongest factor associated with increasing health expenditures. We then compare the health systems and cost-containment strategies of Germany and the United Kingdom with those of the United States and compare the effects of such systems and policies on prices and health expenditure. Afterward, we develop an economic model that illustrates how the market structure of the United States healthcare industry contributes to the relatively high price of healthcare services in the United States, which shows that increased levels of productivity from these health goods and services prompt higher prices for these same goods and services. Lastly, we suggest potential policy reforms incentivizing price controls and competition among insurers and healthcare providers, resulting in lower prices and increased efficiency.
dc.identifier.urihttps://hdl.handle.net/2104/12684
dc.language.isoen_US
dc.rightsBaylor University projects are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. Contact libraryquestions@baylor.edu for inquiries about permission.en
dc.rights.accessrightsNo access - Contact librarywebmaster@baylor.edu
dc.subjectEconomics
dc.titleAn Economic Perspective of Healthcare Prices in the United States
dc.typeThesisen

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