The structure of the physicians service market has resulted in the development of the supplier-induced demand...
The structure of the physicians service market has resulted in the development of the supplier-induced demand hypothesis to explain conduct in the market. In at least a 250 word posting, discuss the theoretical and empirical issues surrounding the supplier-induced demand hypothesis.
Homework Answers
Physicians generally use supplier agency relationships wherein physicians take undue financial advantages by recommendations of health services that patients would have refused if well informed.
Hence whenever supply of physician increases this also induces demand for them because of previous unmet excess demand due to low supply. Thus this causes supply induced demand relationship.
This has been empirically proven Grytten and Sorensen in 1999 and also by J. Olsen 2002.
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