Question

Question 4: How is the medical care market different from other markets? Discuss your answer by giving 4 likely reasons.

Answer 1

Medical care market is different from other market because there is high uncertainty of outcome or result.medicare is having large segment industry which is dominated by non-profit provider.Paymet are made by third parties.

Medical care have high cost..they have high level of risk .due to higher risk health insurance demand is arises.medical merket have more -regulated .In medical market as much as hosptal opend the cost of medical treatment is increases.

Medical market have high cost of producing medical eqipment.