Uk Health Market Care

UK HEALTH MARKET CARE

INTRODUCTION

This study provides analysis and evaluation of economic function of the health care market in United Kingdom. The method of analysis includes using different economic models demand, supply, incentive, elasticity on demand and supply which have been applied in different operations of the health care market. This research will help us to answer various economics problems such as how economic function correlates with the health sector in both public and privates’ sector, how market force work in health system and how the determinant of demand and supply might influence health market in a wide range and decision to be made, in case of market failure and how the government intervene if there is any policy to be applied.

The government of UK is there to make sure that it controls and provide high standard of health care service for both people, like other countries. UK has adopted a different mechanism to make sure health sector operates and performs its services at best standard. The government expect that life expectancy will increase in ageing population in long run, advance of the medical treatment, safe delivery is likely to improve the government expects and income of the government will grow rapidly as it has constant supply of health workforce.

Health care in UK is predominately funded by the government, while around 85% of subsidizing originates from the community contribution. The demand of private care service is growing rapidly, Kingston et al. (2018) with increase ageing population led to excess demand of health care in most of public health centres. It has been disclosed that as the structure of demand change, demand in health care for children and for elderly will also change.

Private health care always interacts with the market force demand and supply that will lead a shift, cost of production of drugs. According to the analysis done on this assignment, it revealed that market failures in health care is caused by health insurance companies in the market do affect competition term of treatment, by supplying low quality drug products which do not meet client’s need of marginal utility,

One of the solutions to counteract market failure is that the government has to make major reform and adjustment of the policy which might lead the government with new perception in health market.

With increase of demand in health services in older people more practice doctors and specialized ambulatory care will be needed.

Several factors have been affecting health market in UK, such factors include shortage of resources and workforce, shift of cost production and increase of ageing population.

I recommend in this study that Government always has to observe, regulate, direct the market, intervene when necessary an exit of market failure by imposing tax subsidies