The Physician Care Market for the 1977-1997 period and Economic Theory

As a study objective of managed attending is a reduction in the damage of health care services, the inclusion of data from the dominant managed care period would tend to distort the analysis of the relationship amongst medico income and doctor fork o'er during the period of the superlative harvest-tide in both doc income and physician try (Goldman, 1995).

amount physician net income after expenses but before federal income taxes in the United States increase in nominal price from $60,400 in 1977 to $182,400 in 1994. In nominal terms, average physician income increased 202 percent everywhere the 17-year period. Adjusting for inflation [1994 = 100], average physician net income after expenses but before federal income taxes in the United States increased in real terms from $147,700 in 1977 to $182,400 in 1994. Thus, in real terms average physician income increased 23.5 percent over the 17-year period (Physician Payment brushup Commission, 1996). For purposes of this analysis of the relationship among physician income and physician supply, the taproom change in physician income that go away yield the greatest validity in the analysis of the relationship between the twain variables is the real increase in physician income over the 17-year period.

o'er the same period, the total supply of physicians in the United States increased from 428,300 in 1977 to 684,400 in 1994, an increase in physician supply 59.8 percent ove

Therefore, average physician income in real terms increased 23.5 percent over the 17-year period, while physician supply as measured by the number of physicians per 100,000 nation increased by 30.4 percent over the 17-year period. At a basic aim of analysis, increasing train for medical services volition lead to an increase in price for medical services until such time as demand is satisfied. In turn, increasing prices for medical services will lead to an increase in the supply of medical services, until prices level off as demand is satisfied (Jacobs, 1997).

Schweikhart, S. B. (1996, Spring). Reengineering the work of caregivers: region redefinition, team structures, and organizational redesign. Hospital & Health Services Administration, 41(1), 19-36.

r the 17-year period. By another measurement of physician supply, the number of physicians in the United States increased from 190 physicians per 100,000 population in 1977 to 263 physicians per 100,000 population in 1994, an increase in the physician supply of 38.4 percent over the 17-year period (American Medical Association, 1996). For purposes of this analysis of the relationship between physician income and physician supply, the measure of physician supply that will yield the greatest validity in the analysis of the relationship between the two variables is the increase in physician supply within the context of the number of physicians per 100,000 population over the 17-year period.

damage Price

Jacobs, P. (1997). The economics of health and medical care. (4th ed.). Gaithersburg, Maryland: Aspen Publishers, Inc.

Schroeder, S., & Sandy, L. (1993). Specialty dispersal of U.S. physicians: The invisible driver of health care costs. New England ledger of Medicine, 328(10), 961-963.

Goldman, D. (1995). Managed care as a public cost-containment mechanism. RAND Journal, 26(2), 277-95.

As chart 1 indicates, as the demand for physician services shifts to the ri
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