HLTH - 556 DB 2 - Urgently Required. 10-12 Hours. Need A + Work

Liberty University

             When looking at my personal beliefs I find that the role of our Government that should remain in the healthcare arena is that of provider / insurer oligopoly. Throughout the years changes in healthcare have always been a topic that is considered very controversial. In more recent times the healthcare reform in 2012 known as the Affordable Care Act (ACA) also known as Obamacare, has allowed the ability for healthcare transformation. This transformation has afforded the ability of creation of an oligopoly. Oligopoly takes place when a small group of suppliers offer a service or product rather than a single supplier such as in a monopoly (McLaughlin & McLaughlin, 2015).  Rather than allowing provider monopolies causing serious inefficiency in allocation of resources for the patient creation of provider Oligopolies allow consumers to receive services that are more appropriate.  Of course with any businesses backed or supported by the government there may be some favoritism and thus suppliers may feel they can push limits to better their outcomes. However in an oligopoly prices should be more moderate or fair due to competition verses a monopolistic situation.

            I support the idea of oligopoly in healthcare because it allows individuals the opportunity to select from various suppliers as well as affords the opportunity for providers to choose who they deal with from an insurance perspective. With that being said of course nothing is perfect. Some say that allowing a few companies to control the market may cause an increase in premiums and decrease in services. However it seems that the additional potential suppliers are not willing or able to meet the demands and regulations set forth by healthcare reform and thus are or have removed themselves out of the insurance world. Larger established insurers have the means to operate and meet or exceed set standards placed upon them. Smaller companies therefore have a lower opportunity to offer a competitive product since the government applies rules and guidelines and because of their inability to meets those demands will exit the game. This very position of healthcare having a set number of options rather than many companies spanning from small to large corporations allows both hospitals and providers the opportunity to negate prices and ultimately places power in the hands of providers rather than the insurance companies.  “Let every person be subject to the governing authorities. For there is no authority except from God, and those that exist have been instituted by God”.

            Working for a large healthcare insurance company certainly plays a vast part on my perspective on this topic. I see where placing options in the hands of the consumer help regulate the business aspect. For example my company has lost members because they do not have contracts with certain providers. Members rather switch insurance companies than start over with another provider. Many patients find physicians and establish relationships, rather than seek another provider they prefer to switch insurances. If our system was built on a monopolistic ideology then providers and facilities would be at the mercy of the insurance company.

 

Reference

McLaughlin, C. P., & McLaughlin, C. D. (2015). Health policy analysis: An interdisciplinary

 

approach (2nd ed.). Sudbury, MA: Jones and Bartlett.