Dynamics of Healthcare Markets

Module Three

Assumptions Underlying the Competitive Model and Implications for Markets and Government

1) Describe what is meant by welfare economics.

2) Which theory of regulation most closely fits with your perception of who is served by the regulation of healthcare markets? Give two current examples supporting your perception with evidence for your position. These examples may be state or federal.

3) You may use AI to help investigate this policy. The 2021 Consolidated Appropriations Act passed that established a new framework to protect patients from surprise bills for emergency services and non-emergency services provided by out of network providers at an in network facility. What interest groups were for and what ones were against the policy. Now using the concepts in the chapter, in your own opinion, briefly explain which theory of regulation its passage supports. BOLD THE CONSTRUCTS.

Struggling with where to start this assignment? Follow this guide to tackle your assignment easily!

Step 1: Understand the Questions

You are required to answer three main questions. Each one deals with theory, policy, and regulation in healthcare markets.

Step 2: Break Down Each Question

Question 1: Welfare Economics

• Define welfare economics in your own words.

• Explain how it relates to efficiency, equity, and allocation of resources.

• Give a simple healthcare example (e.g., Medicaid expansion, vaccine distribution).

Question 2: Theory of Regulation

• Review the three main theories of regulation (public interest theory, capture theory, economic theory of regulation).

• State which theory best describes how you think healthcare regulation works in reality.

• Support your opinion with two examples (state or federal policies).

  • Example: Medicaid expansion, ACA mandates, telehealth regulations, nurse staffing laws.

• Provide evidence—laws, policies, or outcomes—that support your reasoning.

Question 3: 2021 Consolidated Appropriations Act (No Surprises Act)

• Research briefly: The law protects patients from surprise medical bills.

• Identify interest groups that supported it (e.g., consumer groups, patient advocacy groups, insurance companies) and those against it (e.g., physician groups, hospitals, air ambulance providers).

• Using constructs from regulation theory, explain which theory the passage supports.

  • For example:

    • If you believe it serves patients broadly → Public Interest Theory.

    • If you believe certain groups shaped the law to benefit themselves → Capture Theory.

• Bold the constructs you use (e.g., efficiency, equity, regulation capture, market power, consumer welfare).

Step 3: Structure Your Paper

Write in paragraph format (not bullet points). Suggested structure:

1. Introduction – Briefly introduce the competitive model, welfare economics, and healthcare regulation.

2. Welfare Economics – Define and apply to healthcare.

3. Theory of Regulation – Choose a theory and justify with two examples.

4. No Surprises Act – Discuss interest groups, apply constructs, and conclude which theory it supports.

5. Conclusion – Summarize your key insights and opinion.

Step 4: Writing Tips

• Keep answers short but detailed (1–2 paragraphs per question).

• Use bold to highlight key constructs.

• Cite at least one credible source (article, law, policy document).

👉 This structure will keep your answers organized, professional, and aligned with professor expectations.

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