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Oligopsony (the market place issue when number of consumers can drastically have an effect on value and other market place variables) presents the insurance policies firms (consumers) huge negotiating strength and inhibits medical doctors (sellers) from addressing unfair charge techniques. To fix this dilemma, all fifty states have instituted a regulation penalizing overall health insurers for late installments. In the earlier 10 several years, state courts have imposed at the very least $76 million in fines from insurance policies firms for failure to comply with prompt-shell out legislation, in accordance to the AMA. The settlements amongst 7 most significant insurance policies firms and state health care societies amounted to far more than $one.fifty three billion, with only $384 million for immediate installments to medical doctors (see Dave Hansen, "The unsuccessful assure of prompt shell out," AMNews, Nov. five, 2007).
An oligopsony, in accordance to Wikipedia, is a market place sort in which the variety of consumers is modest even though the variety of sellers could be significant. It truly is a mirror reverse to an oligopoly, wherever there are a lot of consumers but just a number of sellers:
Entire world market: About three businesses (Cargill, Archer Daniels Midland, and Callebaut) get the large greater part of entire world cocoa bean generation, primarily from modest farmers in 3rd Entire world international locations.
American market: tobacco growers confront an oligopsony of cigarette makers, wherever about three firms (Altria, Brown
