Health Economics

Can we really use economic thinking to understand our health care system? Health Economics, now in its sixth edition, not only shows how this is done, but also provides the tools to analyze the economic behavior of patients and providers in health care markets. Health Economics combines current economic theory, recent research, and up-to-date empirical studies into a comprehensive overview of the field. Key changes to this edition include: - additional discussion of the consequences of the Patient Protection and Affordable Care Act (PPACA), in light of current political changes; - an extensive discussion of quality measures; - more discussion of preventive services; - a new section on drug markets and regulation; - discussion of Accountable Care Organizations (ACOs); - new references, problem sets, and an updated companion website with lecture slides. Designed for use in upper-division undergraduate economics studies, the book is suitable for students and lecturers in health economics, microeconomics, public health policy and practice, and health and society. It is also accessible to professional students in programs such as public policy, public health, business, and law.

Charles E. Phelps, PhD, has contributed to the field of health economics at the RAND Corporation (1971-1984) and the University of Rochester (1984-2010), USA. Now retired from the faculty, he continues through work with the National Academy of Medicine (to which he was elected in 1991) and various consulting arrangements. He has supervised 35 doctoral candidates across the fields of economics, political science, public policy, statistics, and nursing.

CHAPTER 1 Why Health Economics? CHAPTER 2 Utility and Health CHAPTER 3 The Transformation of Medical Care to Health CHAPTER 4 The Demand for Medical Care: Conceptual Framework CHAPTER 5 Empirical Studies of Medical Care Demand and Applications CHAPTER 6 The Physician and the Physician-Firm CHAPTER 7 Physicians in the Marketplace CHAPTER 8 The Hospital as a Supplier of Medical Care CHAPTER 9 Hospitals in the Marketplace CHAPTER IO The Demand for Health Insurance CHAPTER 11 Health Insurance Supply and Managed Care CHAPTER 12 Government Provision of Health Insurance CHAPTER 13 Medical Malpractice CHAPTER 14 Externalities in Health and Medical Care CHAPTER 15 Managing the Market: Regulation, Quality Certification, and Technical Change CHAPTER 16 Universal Insurance Issues and International Comparisons of Health Care Systems