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Assume that price controls are imposed on the healthcare sector. What problem occurs when a new...

Assume that price controls are imposed on the healthcare sector. What problem occurs when a new surgical technique is developed that reduces the time and effort required by a surgeon to perform the same procedure?

The surgeon has an increased incentive to perform the surgery using the previous technology.

The surgeon performing the procedure is unfamiliar with the new technology and continues to bill for the procedure using the previous technology.

The regulators are generally unaware of these changes in the medical product and technology; consequently, the controlled price will greatly exceed the costs of providing the service.

a and b

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Answer #1

Cost control is a method of saving money by cutting down unnecessary expenditure. It is generally imposed in the healthcare sector New technology greatly reducing time and effort of the patient is a real good quality care.The healthcare regulator should be updated otherwise the controlled price will increase that the expenditure on the services provided.The other two option os a form of illegal issue or a malpractice for wrong information or entry without doing it.

Abs:The regulators are generally unaware of these changes in the medical product and technology;consequently, the controlled price will greatly exceed the costs of providing the services.

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