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Technology Investment by Hospitals in Korea

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Authors
Yang, Bongmin; Park, Younghee
Issue Date
1991
Publisher
Seoul Journal of Economics
Citation
Seoul Journal of Economics 4 (No. 4 1991): 293-310
Keywords
health care system; korean hospital market; cost-plus fee-for-service system
Abstract
There has been a rapid influx of high cost medical technologies into Korean hospital market. While some of the technologies prove to be beneficial, the government, the public and the hospital sector are concerned about the adverse impact the adoption of new technologies might have on the health care system. This study attempts to: i) explain why the issue of medical technology is important in Korea: ii) identify the factors that facilitate the aggressive import of foreign technologies: and iii) investigate the capital investment behavior of Korean hospitals. Empirical findings indicate that hospitals, especially private hospitals, aggressively acquire technologies and they seem to compete based on the acquisition of new technologies. Under cost-plus fee-for-service system, they purchase technologies even when they are not financially sound. This indirectly implies that unless some measures are to be taken by authorities, the health care sector is likely to be less efficient.
ISSN
1225-0279
Language
English
URI
http://hdl.handle.net/10371/940
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College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of EconomicsSeoul Journal of Economics vol.04(4) (Winter 1991)
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