When medical fee schedules are negotiated by two monopolists-one representing pa

Question

When medical fee schedules are negotiated by two monopolists-one representing patients and one representing providers-the equilibrium medical fees will

be greater than fees determined in a competitive market.

be less than fees determined in a competitive market.

be greater than fees determined by provider groups alone.

be less than fees determined by patient groups alone.

depend on the relative bargaining strengths of the two groups negotiating the fee schedule.

be greater than fees determined in a competitive market.

be less than fees determined in a competitive market.

be greater than fees determined by provider groups alone.

be less than fees determined by patient groups alone.

depend on the relative bargaining strengths of the two groups negotiating the fee schedule.

Explanation / Answer

Answer

c)be greater than fees determined by provider groups alone

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