Unique Attributes of the Medical Care Services Compared to Other Market Services - Essay Example

Typically, as people move on with their daily lives, they have numerous requirements and needs to meet. The requirements and needs tend to vary from an individual to the next, while some of the necessities cut across several individuals.  The needs vary from medical care services to other market products and services. Interestingly there seems to be a clear distinction between the medical care services and other market products and services. This paper to be précised expounds on the unique attributes of the medical care services compared to other market services and products.

    The medical care services do not support normal consumer choice(s) unlike in other market products and services (Folland et al.  2007). Normally, the normal consumer choices are influenced by several factors such as the extent of need, availability of capital, consumer preferences, and availability of the product or service. This is very unlike in medical care services where consumers’ preferences or the right to make choices is withdrawn. For, falling ail relies on a natural course which is not dependent on patient preference, financial status, availability of services, etc. Consumers think little regarding medical care services until one falls sick. Whenever a patient fall seeks, they rarely care; the prices of the service, the service provider, nor the cost that arise due to venturing into the same, all patient care is to regain health status free from pain and illness associated shortcomings. This is very unlike other market services and products, where consumers make purchase choices based on preference, capital status, availability of a product, etc.

     Eventually, the medical care services are deemed unique given that its extremely government-regulated sector compared to other market services and products (Stoddart & Evans, 2017). The medical care services determine the health status of the nation which translates into the quality of life of the people. The quality of life of the people dictates the productivity of the people translating to living standards. The governments being aware of this notion invest heavily in medical care services and strictly regulate the same. The governments strictly regulate the medical care services to ensure enhanced services that meet standards to protect patients from both harms, while accessing the medical care services, and exploitation from health care practitioners.

    Besides, another unique characteristic of medical care services compared to other market services and products include; it does not obey the demand and supply factors (Folland et al. 2007). Typically, the marketing of other products and services is primarily based on the demand and supply of the product which dictates the pricing of the product. The medical care services are unique given that their demand is inelastic in this sense, demand is attributed to the desire of attaining good health. This implies that even if the medical care service supply increases, there is little shift in demand given the people cannot be forced to fall sick. The inelasticity in demand of the medical care services forces the government to intervene to ensure no exploitation by pricing the services extremely high.