Authors libby rittenberg 215

Data for period 1960–1992 from Health Care Finance Association (which was the predecessor to the Centers for Medicare and Medicaid Services); Data for period 1993–2003 from Centers for Medicare and Medicaid Services, Office of the Actuary: National Health Statistics Group Why were Americans willing to increase their spending on health care so dramatically? The model of demand and supply gives us part of the answer As we apply the model to this problem, we will also gain a better understanding of the role of prices in a market economy The Demand and Supply for Health Care Figure 4.15 Total Spending for Physician Office Visits Total spending on physician office visits is $30 per visit multiplied by 1,000,000 visits per week, which equals $30,000,000 It is the shaded area bounded by price and quantity Attributed to Libby Rittenberg and Timothy Tregarthen Saylor URL: http://www.saylor.org/books/ Saylor.org 215