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How should we pay our doctors?
Member rating: No Rating | Words: | Submitted: Tue Jun 20 2006
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How should we pay our doctors? The term "doctor" or "physician" refers to an individual who provides medical advice; logically in exchange for a reward. The way that doctors are paid for their services has stirred debates as to how altering the form of payment may enhance the efficiency and equity of medical services. The different forms of doctors' payments target the fundamental "principle-agent" problem within health economics. The problem arises as a physician acts both as a supplier and as a demander. This is because as the patient addresses the doctor for advice, the doctor will provide the advice (what to demand) and the supply. The problem though is based upon the lack of information that characterises the patient, as the knowledge of possible treatments is only possessed by the physician, thus is up to his/her judgement what he/she will provide. This form of...
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