The Market for Physicians' Services: Theoretical Implications and an Empirical Test of the Target Income Hypothesis I. Introduction

Over the period 1965 to 1977, expenditure for health care in the United States increased from $181 per capita to $697 per capita. The share of GNP composed of health care expenditures grew from 5.9% in 1965 to 8.8% in 1977. Over this same period, the number of physicians in the U.S. increased from 1...

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Bibliographic Details
Published inSouthern economic journal Vol. 48; no. 3; p. 594
Main Author Sweeney, George H
Format Journal Article
LanguageEnglish
Published Stillwater Southern Economic Association 01.01.1982
Subjects
Elasticity of demand
Family physicians
Health care expenditures
Hypotheses
Per capita
Physicians
Profits
Workloads
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Summary:Over the period 1965 to 1977, expenditure for health care in the United States increased from $181 per capita to $697 per capita. The share of GNP composed of health care expenditures grew from 5.9% in 1965 to 8.8% in 1977. Over this same period, the number of physicians in the U.S. increased from 153 physicians per 100,000 population to 194 physicians per 100,000. Such startling figures have generated much interest in the economics of health care, with special concern about physician behavior and its effects upon health care costs.
ISSN:0038-4038
2325-8012