Price-Setting Strategy Based on Demand Rather Than Cost Is Called

question 77

Short Answer

Price-setting strategy based on demand rather than cost is called ________.

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Definitions:

Third-Party Payer

An entity, often an insurance company or government program, that pays for healthcare services on behalf of the patient.

Insurance Company

A business entity that provides coverage, in the form of compensation resulting from loss, damages, injury, treatment, or hardship in exchange for premium payments.

Prospective Payment System

A healthcare payment system where the amount or rate of reimbursement is predetermined before the service is delivered.

Medicare

A federal health insurance program in the United States primarily for people aged 65 and older, as well as for some younger individuals with disabilities.