Information Asymmetry in Hospitals: Evidence of the Lack of Cost Awareness in Clinicians.

ABSTRACT:

Background

Information asymmetries and the agency relationship are two defining features of the healthcare system. These market failures are often used as a rationale for government intervention. Many countries have government financing and provision of healthcare in order to correct for this, while health technology agencies also exist to improve efficiency. However, informational asymmetries and the resulting principal-agent problem still persist, and one example is the lack of cost awareness amongst clinicians. This study explores the cost awareness of clinicians across different settings.

Methods

We targeted four clinical cohorts: medical students, Senior House Officers/Interns, Mid-grade Senior Registrar/Residents, and Consultant/Attending Physicians, in six hospitals i

SUBMITTER: Fabes J 

PROVIDER: S-EPMC9126693 | biostudies-literature | 2022 Sep

REPOSITORIES: biostudies-literature