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spelling Pauly, Mark V. 1389-6563 1573-6962 Kluwer Academic Publishers https://www.jstor.org/stable/3528920 <p>This paper reviews the concept of optimal quality in medical care from an economic viewpoint. It also provides some data on recent trends in competition in the health care sector. Economically optimal quality reflects a tradeoff of marginal benefits against (minimized) marginal cost. Actual quality may be suboptimal either because of technical inefficiency in the production of quality or because consumers fail to make proper choices. In concept, competition, if supplemented by adequate information, can help. Overall competition in the hospital industry has declined modestly in recent years, but competition in markets for more generously reimbursed specific services, such as coronary artery bypass grafting, has increased.</p> Competition in Medical Services and the Quality of Care: Concepts and History International Journal of Health Care Finance and Economics
spellingShingle Pauly, Mark V., International Journal of Health Care Finance and Economics, Competition in Medical Services and the Quality of Care: Concepts and History
title Competition in Medical Services and the Quality of Care: Concepts and History
title_full Competition in Medical Services and the Quality of Care: Concepts and History
title_fullStr Competition in Medical Services and the Quality of Care: Concepts and History
title_full_unstemmed Competition in Medical Services and the Quality of Care: Concepts and History
title_short Competition in Medical Services and the Quality of Care: Concepts and History
title_sort competition in medical services and the quality of care: concepts and history
title_unstemmed Competition in Medical Services and the Quality of Care: Concepts and History
url https://www.jstor.org/stable/3528920