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Jurnal Ekonomi Malaysia

39 2005 71 – 88

Principal-Agent Relationship in Medical Care: Eliciting Patients’ Preferences in Patient-Doctor Relationship

Abstract

As implicated in principal-agent theory, responding to patients’ needs and preferences should be the fundamental objective and be taken into consideration in designing of a health care financing system. This study attemps to characterize the patient’s preferences for information, this the utility function, during clinical consultation. An empirical study was carried out the context of a Malaysian health care setting involving 108 and 50 diabetic patients from a public and a private hospital  respectively. Result from the analysis showed that diabetic pantients from both the hospitals gave priority to the quality rather than the quantity of information transferred. Socio-economic characteristics of the patient were introduced into the model in the form of interaction terms explained how preferences varied across patients.

Author’s Acknowledgement

The author would like to thank Dr.Chan Huang Chiang of Universiti Sains Malaysia, Penang and Dr. Nungsari Ahmad Radhi of International Medical University,kuala lumpur,for their useful comments.

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Hwa, (2005). Principal-Agent Relationship in Medical Care: Eliciting Patients’ Preferences in Patient-Doctor Relationship. Jurnal Ekonomi Malaysia, 39, 71–88.

@article{Hwa2005Principal,
  title={Principal-Agent Relationship in Medical Care: Eliciting Patients’ Preferences in Patient-Doctor Relationship},
  author={Hwa, Yen Siew},
  journal={Jurnal Ekonomi Malaysia},
  volume={39},
  number={},
  pages={71—88},
 

year={2005},
}

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