Question

How does the existence of third party payers distort the market for healthcare?

Answer 1

~The existence of third party payers distort the market for healthcare in the following way:-

Among the well known health insurance companies, an important application is to do all Insurance process management through a third party payer which plays the role of a medium for the insurer and insured. This is called third party administrator in health care company. Now their job is to facilitate, settle claims, problem etc. But mostly lack of care is found by these service provider. The main purpose of the health care insurance is not served to the people. This is the drawback of the third party payers.

~Best of luck

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