Topic > Essay on Demand in Healthcare - 1759

An example of elasticity would be pharmaceuticals. Although a doctor may prescribe a certain type of drug or treatment, the consumer may look for a less expensive product or an alternative method to achieve the goal of what the doctor ordered. Alternative methods could be anything from a change in diet, to trying vitamins or supplements, or a change in lifestyle. This is best illustrated in a patient with diabetes. A patient seeks medical attention because of symptoms and is diagnosed with diabetes. The doctor wants the patient to start a regimen of metformin to help reduce blood glucose levels. When the patient goes to the pharmacy to fill the prescription, he discovers that the cost or copayment of the drug is higher than what he is willing to pay. The patient, in response to the cost, chooses to change lifestyle and diet to manage blood sugar rather than following the doctor's advice and taking the drug. Typically, when you hear the word demand, you think of another word: supply. Supply is relevant to this discussion because it can also affect healthcare. The supply curve can be explained