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What is Agency Relationship

Encyclopedia of Healthcare Information Systems
Situation in which one party relies on another party to make decisions.
Published in Chapter:
Costs and New Technologies in Healthcare Delivery
Marie-Christine Thaize Challier (University of Grenoble, France)
Copyright: © 2008 |Pages: 7
DOI: 10.4018/978-1-59904-889-5.ch039
Reducing medical costs is one of the major policy questions. A well understanding of this issue requires specific insight into some domains. The three main points which must be clarified relate to: (1) the nature of the costs (production costs and transaction costs), (2) the nature of new healthcare technologies (the biotechnology and biomedical engineering vs. the e-healthcare system, the face-to-face communications between the primary care physicians or other providers and the patients vs. the non face-to-face communications), and (3) the nature of information (which can be asymmetric, incomplete, or imperfect). This article studies what differences there are when considerations about informational issues and types of medicine are taken into account in the modern health economy characterized by the generation and the implementation of new healthcare technologies. To do this, this article first clarifies and presents some concepts in the framework of the health economy. Then, from these issues, it discusses the cost containment in the current case of the development and adoption of new technologies, and contrasts the opinions and perspectives.
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The Strategic Divestment Decision in the Family Business Through the Real Options and Emotional Lenses
An arrangement between two parties, such as between a principal (owner) and an agent (manager), which entails a delegation of action from the principal to the agent with the expectation that the latter operates in line with the owners’ interest. A divergence of interest is known as the agency conflict. This relationship can also operate between two principals (majority-minority owners).
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Patients and Physicians Faced to New Healthcare Systems
Situation in which one party relies on another party to make decisions.
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