Essay on Demand Curve For Medical Care

1323 Words Apr 1st, 2016 6 Pages
Price Fixing is an illegal practice to when a heath care provider will charge an artificially high price for a health care service, or when a Doctor or group of doctors will change prices for exactly the same service by some type of standard. We see this in the United States quite often, we have one of the highest medical cost in the world. Granted we also do have very good health care and several advancements that most of the world do not have. I will write about how the healthcare in this country has Price Fixing. Price fixing causes a shift in the Supply and Demand curve but since healthcare is different situation than let us say buying a car, you cannot survive without medical care at a certain extent but you can survive without having a brand new car. The demand curve for medical care is a straight vertical line because everyone needs health care and we cannot change that. In the United Sates when you go to the doctor it may cost several hundreds of dollars, but I want to focus on the price fixing in the pharmaceutical side of health care, an experience I recently had is that I needed/chose to take a medication for a period of six months, it is a popular drug for acne. I was very surprised when my parents told me that it was going to cost just under $9,000 dollars for me to take the medication. Luckily I have great insurance so it was fully covered but that sounds like an outrageous price for a medication. The pharisaical industry is a multi-billion-dollar industry in…

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