U.S. law prohibits hospitals from denying patients care in an emergency, even if they are unable to
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U.S. law prohibits hospitals from denying patients care in an emergency, even if they are unable to pay. Historically, the cost of covering these uninsured patients has been passed on to insured patients and the government. Explain how a law like the Affordable Care Act, which reduces the number of uninsured patients, thus alleviates a market failure.
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Market Failure in Healthcare In the healthcare industry market failure occurs when the free market system does not efficiently allocate resources to a...View the full answer
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