The United States healthcare market is considered imperfect market. The healthcare industry it’s very complex and makes difficult to consumers to have the services they need on their own at the price they want.
Therefore, healthcare insurance or government plans such as Medicare, Medicaid acts as intermediary and sell these plans to their customers. These packages are already built and offer limited cover to enrollees and the prices are fixed with providers which definitely benefit from those deals.
These external agencies will be negotiated directly with providers and cover a portion of the medical bills according to health care plan customers decide to sign up. Nevertheless, some healthcare plans are subsidies by the government or portion of the healthcare plan is paid by the employer.
In all this case supply and demand behave as imperfect market and not as a free market. Because there is no healthcare plan available in the United States that is customised by customer needs and wants on their own terms. In order to consider a free market consumer, need to purchase healthcare plans directly from providers.
According to Forbes “The ultimate answer for curing our mostly dysfunctional healthcare market is to get the patient in control instead of third parties, which primarily are the government, large insurance, and in some cases large employers (Forbes, et al,.2018)”
Forbes, S. (2018, July 17). Only Free Markets Will Save–And Strengthen–Healthcare. Retrieved from https://www.forbes.com/sites/steveforbes/2018/07/17/only-free-markets-will-save-and-strengthen-healthcare/.insurances and, in some cases large employer ()”.
The United States has both market and social justice aspects of healthcare. First, the market justice is based solely in the private market. Where individuals have the resources or financial stability to purchase a healthcare plan that meet their needs and wants. These individuals value healthcare plan as a reward in the long term.
One of the many reasons are they frequently visit the doctor, and can they detect medical conditions on time. This means they can have less absences at work to treat an illness and earn more money in the long term.
Because, hospital or clinic has equipment state of the art and has more resources available to invest to treat patient’s health. Nevertheless, the time wait is less than market justice. For example, in the market justice is basically the government decide which service and good should be provided according to individual need.
For example, Medicaid is basically run by the government to help low-income families. But, some clinics or hospitals in Texas do not accept patients with Medicaid and the ones they do have an extensive requirement by the government before they treat the patient.
Perhaps, “It stems from principles of shared responsibility and concern for the communal well-being, with government as the vehicle for ensuring equity ()”
Budetti, Peter P. “Market Justice and US Health Care.” Jama, vol. 299, no. 1, 2008, doi:10.1001/jama.2007.27.