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The mainstream economic theory of regulation treats politicians and administrators as brokers among interest groups. [4] [5] Bootleggers and Baptists is a specific idea in the subfield of regulatory economics that attempts to predict which interest groups will succeed in obtaining rules they favor. It holds that coalitions of opposing interests ...
Health economics is a branch of economics concerned with issues related to efficiency, effectiveness, value and behavior in the production and consumption of health and healthcare. Health economics is important in determining how to improve health outcomes and lifestyle patterns through interactions between individuals, healthcare providers and ...
Regulatory economics is the application of law by government or regulatory agencies for various economics-related purposes, including remedying market failure, protecting the environment and economic management.
Regulatory capture theory is a core focus of the branch of public choice referred to as the economics of regulation; economists in this specialty are critical of conceptualizations of governmental regulatory intervention as being motivated to protect the public good.
Changes in the organization of a healthcare system happen at multiple levels at both the front-line and managerial level. Regulation refers to actions at the state level that modify or alter the behavior of various actors within the health care system. The actors may include health care providers, medical associations, individual consumers ...
An early use of "government failure" was by Ronald Coase (1964) in comparing an actual and ideal system of industrial regulation: [5] Contemplation of an optimal system may provide techniques of analysis that would otherwise have been missed and, in certain special cases, it may go far to providing a solution.
In a system of free-market healthcare, prices for healthcare products and services are set freely by agreement between patients and health care providers, which are subject to the laws and forces of supply and demand and free from any intervention by a government, price-setting monopoly, or other outside authority.
The Florida Bar defines "health law" as "legal issues involving federal, state, or local law, rules or regulations and health care provider issues, regulation of providers, legal issues regarding relationships between and among providers, legal issues regarding relationships between providers and payers, and legal issues regarding the delivery of health care services."