IDEAS home Printed from https://ideas.repec.org/a/spr/aphecp/v16y2018i4d10.1007_s40258-018-0381-y.html
   My bibliography  Save this article

The Case for a Private Healthcare Insurance Monopoly

Author

Listed:
  • Paul E. Orzechowski

    (College of Staten Island, City University of New York (CUNY))

Abstract

This article advocates for a regulated private monopoly as an audacious solution to replace Obamacare, help manage Medicare and Medicaid and reform the US healthcare insurance industry. Contemporary economics vilifies monopolies and praises the ‘magic wand’ of perfect competition without much debate on the merits of these assumptions. The problems with the perfect competition model as applied to healthcare insurance are well established, but exploration of other possible economic models (i.e. monopoly and oligopoly) as a replacement for Obamacare is non-existent. New thinking about the role of monopolies may help achieve public policy goals and make health insurance available to the largest number of people at a reasonable premium while containing medical costs.

Suggested Citation

  • Paul E. Orzechowski, 2018. "The Case for a Private Healthcare Insurance Monopoly," Applied Health Economics and Health Policy, Springer, vol. 16(4), pages 433-443, August.
    • Handle: RePEc:spr:aphecp:v:16:y:2018:i:4:d:10.1007_s40258-018-0381-y
    DOI: 10.1007/s40258-018-0381-y
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s40258-018-0381-y
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s40258-018-0381-y?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. repec:ucp:bkecon:9780226519999 is not listed on IDEAS
    2. Kifmann, Mathias, 2017. "Competition policy for health care provision in Germany," Health Policy, Elsevier, vol. 121(2), pages 119-125.
    3. Schut, Frederik T. & Varkevisser, Marco, 2017. "Competition policy for health care provision in the Netherlands," Health Policy, Elsevier, vol. 121(2), pages 126-133.
    4. Bes, Romy E. & Curfs, Emile C. & Groenewegen, Peter P. & de Jong, Judith D., 2017. "Selective contracting and channelling patients to preferred providers: A scoping review," Health Policy, Elsevier, vol. 121(5), pages 504-514.
    5. Martin Gaynor & Deborah Haas-Wilson, 1999. "Change, Consolidation, and Competition in Health Care Markets," Journal of Economic Perspectives, American Economic Association, vol. 13(1), pages 141-164, Winter.
    6. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(3), pages 488-500.
    7. Paul Joskow, 2005. "Regulation and Deregulation after 25 Years: Lessons Learned for Research in Industrial Organization," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 26(2), pages 169-193, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Liyong Lu & Jay Pan, 2021. "Does hospital competition lead to medical equipment expansion? Evidence on the medical arms race," Health Care Management Science, Springer, vol. 24(3), pages 582-596, September.
    2. Siciliani, Luigi & Chalkley, Martin & Gravelle, Hugh, 2017. "Policies towards hospital and GP competition in five European countries," Health Policy, Elsevier, vol. 121(2), pages 103-110.
    3. Paolo Berta & Gianmaria Martini & Francesco Moscone & Giorgio Vittadini, 2016. "The association between asymmetric information, hospital competition and quality of healthcare: evidence from Italy," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 179(4), pages 907-926, October.
    4. J.A. den Hertog, 2010. "Review of economic theories of regulation," Working Papers 10-18, Utrecht School of Economics.
    5. Assaf Razin & Efraim Sadka & Chi-Wa Yuen, 1999. "An Information-Based Model of Foreign Direct Investment: The Gains from Trade Revisited," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 6(4), pages 579-596, November.
    6. Tisdell, Clem, 2014. "Information Technology's Impacts on Productivity, Welfare and Social Change: Second Version," Economic Theory, Applications and Issues Working Papers 195701, University of Queensland, School of Economics.
    7. Konduru, Srinivasa & Kalaitzandonakes, Nicholas G. & Magnier, Alexandre, 2009. "GMO Testing Strategies and Implications for Trade: A Game Theoretic Approach," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin 49594, Agricultural and Applied Economics Association.
    8. König, Philipp J. & Pothier, David, 2018. "Safe but fragile: Information acquisition, sponsor support and shadow bank runs," Discussion Papers 15/2018, Deutsche Bundesbank.
    9. Andrea Attar & Thomas Mariotti & François Salanié, 2021. "Entry-Proofness and Discriminatory Pricing under Adverse Selection," American Economic Review, American Economic Association, vol. 111(8), pages 2623-2659, August.
    10. Reynolds, Travis & Kolodinsky, Jane & Murray, Byron, 2012. "Consumer preferences and willingness to pay for compact fluorescent lighting: Policy implications for energy efficiency promotion in Saint Lucia," Energy Policy, Elsevier, vol. 41(C), pages 712-722.
    11. Ginger Zhe Jin & Andrew Kato & John A. List, 2010. "That’S News To Me! Information Revelation In Professional Certification Markets," Economic Inquiry, Western Economic Association International, vol. 48(1), pages 104-122, January.
    12. Ritu Agarwal & Michelle Dugas & Guodong (Gordon) Gao & P. K. Kannan, 2020. "Emerging technologies and analytics for a new era of value-centered marketing in healthcare," Journal of the Academy of Marketing Science, Springer, vol. 48(1), pages 9-23, January.
    13. Villas-Boas, Sofia B, 2020. "Reduced Form Evidence on Belief Updating Under Asymmetric Information," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt08c456vk, Department of Agricultural & Resource Economics, UC Berkeley.
    14. Yaofeng Fu & Ruokun Huang & Yiran Sheng, 2017. "Labor Contract Law -An Economic View," Papers 1702.03977, arXiv.org.
    15. Ghosh, Suman, 2007. "Job mobility and careers in firms," Labour Economics, Elsevier, vol. 14(3), pages 603-621, June.
    16. Eunsoo Kim & Suyon Kim & Jaehong Lee, 2021. "Do Foreign Investors Affect Carbon Emission Disclosure? Evidence from South Korea," IJERPH, MDPI, vol. 18(19), pages 1-14, September.
    17. Frédéric Gannon & Vincent Touzé, 2006. "Insurance and Optimal Growth," Post-Print halshs-00085181, HAL.
    18. Feser, Daniel & Runst, Petrik, 2015. "Energy efficiency consultants as change agents? Examining the reasons for EECs’ limited success," ifh Working Papers 1 (2015), Volkswirtschaftliches Institut für Mittelstand und Handwerk an der Universität Göttingen (ifh).
    19. Veronica Guerrieri & Robert Shimer, 2018. "Markets with Multidimensional Private Information," American Economic Journal: Microeconomics, American Economic Association, vol. 10(2), pages 250-274, May.
    20. Johannes Abeler & Armin Falk & Fabian Kosse, 2021. "Malleability of Preferences for Honesty," CESifo Working Paper Series 9033, CESifo.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:aphecp:v:16:y:2018:i:4:d:10.1007_s40258-018-0381-y. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.