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The Physician Labor Market in a Managed Care-Dominated Environment

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  • Hirth, Richard A
  • Chernew, Michael E

Abstract

The belief that doctors respond to declining demand by treating patients more aggressively has created skepticism about relying on market forces to restructure physician supply. The authors argue that, even if the physician labor market is dysfunctional under fee-for-service incentives, it can perform better as managed care becomes dominant. Their model implies a nonlinear effect of managed care penetration on incomes. Physicians can offset most or all of initial declines in demand but cannot insulate themselves indefinitely. This may explain the observation that, until recently, the growth of managed care has not been accompanied by large physician income changes. Copyright 1999 by Oxford University Press.

Suggested Citation

  • Hirth, Richard A & Chernew, Michael E, 1999. "The Physician Labor Market in a Managed Care-Dominated Environment," Economic Inquiry, Western Economic Association International, vol. 37(2), pages 282-294, April.
    • Handle: RePEc:oup:ecinqu:v:37:y:1999:i:2:p:282-94
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    Cited by:

    1. Elizabeth L. Munnich & Michael R. Richards, 2020. "Treatment flows after outsourcing public insurance provision: Evidence from Florida Medicaid," Health Economics, John Wiley & Sons, Ltd., vol. 29(11), pages 1343-1363, November.
    2. Anderson, Gary M. & Halcoussis, Dennis & Johnston, Linda & Lowenberg, Anton D., 2000. "Regulatory barriers to entry in the healthcare industry: the case of alternative medicine," The Quarterly Review of Economics and Finance, Elsevier, vol. 40(4), pages 485-502.

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