[Solved] Healthcare Market Behaves Differently

Healthcare economists argue that the healthcare market behaves differently from conventional markets due to government involvement, externalities, asymmetric knowledge, and uncertainty. The prevention and spread of coronavirus disease 2019 (COVID-19) helps with your understanding of externalities.

Explain how externalities (think of COVID-19) contribute to healthcare costs, insurance costs, and quality of services, and detail what practices can mitigate the effect of externalities on healthcare expenditure.

minimum of 300 words