| In an economic context, healthcare consumption is no | | | | The salary of medical professionals in the US is similar |
| different from other consumer services. Where there | | | | to the UK and France and will act as a factor as |
| is a demand, the market will attempt to meet it through | | | | young students choose their career path. When |
| supply. Where supply outweighs demand, prices may | | | | students go onto choose a medical subject, the |
| fall as the market becomes competitive and vice | | | | market as a whole becomes far less relevant and |
| versa in reverse circumstances. With physicians and | | | | healthcare providers are left in a position where they |
| the provision of healthcare services, supply and | | | | must compete to secure the services of physicians. |
| demand do not fluctuate with price as much as other | | | | On the other hand, during times of higher amounts of |
| services. | | | | available physicians the tables will turn and prices will |
| This is for a number of reasons. The main one being | | | | become lower for service providers as hiring staff |
| that demand for healthcare comes more as a | | | | becomes less competitive. |
| necessity so demand cannot increase and likewise | | | | At this point in time, the break-down in international |
| cannot decrease for the same reasons. However; on | | | | trade between service providers and physicians has |
| a different level, the relationships between health care | | | | had a profound effect and a much expected one at |
| service providers and medical professionals can | | | | that. Although healthcare consumers are left in a |
| indeed be impacted by pricing especially in a global | | | | position where by they may not migrate as easily |
| marketplace. | | | | between providers, actual healthcare professionals |
| Many foreign countries, such as the UK, provide | | | | may do so with relative ease. This has created a |
| healthcare through the state and also have legislation in | | | | situation where by a shortage of supply causes |
| place which means that private medical care can only | | | | foreign doctors to migrate and for foreign healthcare |
| be provided by Physicians that are working out of | | | | service providers to raise their prices in an attempt to |
| hours. This makes private healthcare more of a luxury | | | | keep their talent. According to years of authoritative |
| than a necessity and places salaries firmly in the hands | | | | economic theory, this should indeed result in a shift |
| of the UK government - a similar structure is also | | | | towards international equilibrium where by all service |
| implemented in France. As a result, salaries are only | | | | providers will move towards a middle ground in pricing. |
| used as an incentive to induce young academics to | | | | Despite this, the higher levels of demand for nationals |
| enter the profession rather than being a bi-product of | | | | will always play a role in the formation of the market |
| any consumer-side market forces. | | | | that is formed. |