Question

Discuss Health Care and Moral Hazard and what can be done to improve waiting times in the public health sector

express this in a graph

Answer 1

Moral hazard happens when there is asymmetric information between buyer and seller and when buyer is insured against the risk while the seller incurs the cost of this risk.

To improve waiting times in healthcare sector, the government must propose tax sops amd incentives for hospital to widen their capex and establish multiple beds and recruit highly trained professionals which will meet supply demand mismatch and thus reduce waiting times. Also faster approvals of Social security programs, regulations and implementation checks to avoid malpractice, market penetration of hospital using camps can helps meet demand for healthcare and lower waiting times.

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