Hcs 440: Economic Terms And Health Care History
Economic terms and health care history
Woody Johnson
HCS/440
June 12, 2013
During history, health care economics has changed considerably. The main reason that stimulus change in health care economic are technology and medical care, however a lot has to do with evolutionary changes that the U.S. endured from the beginning. It is very essential to comprehend health care cash flow system and economic history. Administrators use this data to help organize the future of the corporation. In this paper, I plan to use the terms to elaborate on the history and evolution of health care economics and the timeline of finance.
Before the year of 1990, there was not a significant health care in America. American medical association was just …show more content…
At its most basic level, health care is a handful of financial transactions, in which patients are obtaining insurance, physicians and hospitals provide services, pharmacies provide medications, and insurance companies pay for those goods and services. So to understand health economics, you must follow the money. When tracing the flow of funds through the health care system, it 's important to be aware that the money trail is constantly shifting, changing direction and size. Most important, the goal is to improve the delivery of health services, fund innovative and cost-effective medical procedures, cut the costs of health insurance, improve the nation 's health through prevention and better nutrition, and eliminate graft and corruption in the health care industry while raising it to a level that 's steady with the rest of the …show more content…
Why don 't they charge more if doing so would increase profits? The reasons are many, ranging from the desire to help the poor to administrative controls over allowable changes. Also, the sensitivity to price change today is significantly less than the ultimate response to a price change in the long run. Some medical goods—especially those for which consumers have several choices and enough information in advance of purchase, such as allergy medications—are price elastic. For these goods, total revenues would decline if prices were increased. Thus, it 's more likely that a medical provider facing elastic demand is behaving more like a standard profit-maximizing firm. However, price controls, informal norms about overcharging, and other deviations from perfect competition may still be significant, even in the more price-sensitive medical
Woody Johnson
HCS/440
June 12, 2013
During history, health care economics has changed considerably. The main reason that stimulus change in health care economic are technology and medical care, however a lot has to do with evolutionary changes that the U.S. endured from the beginning. It is very essential to comprehend health care cash flow system and economic history. Administrators use this data to help organize the future of the corporation. In this paper, I plan to use the terms to elaborate on the history and evolution of health care economics and the timeline of finance.
Before the year of 1990, there was not a significant health care in America. American medical association was just …show more content…
At its most basic level, health care is a handful of financial transactions, in which patients are obtaining insurance, physicians and hospitals provide services, pharmacies provide medications, and insurance companies pay for those goods and services. So to understand health economics, you must follow the money. When tracing the flow of funds through the health care system, it 's important to be aware that the money trail is constantly shifting, changing direction and size. Most important, the goal is to improve the delivery of health services, fund innovative and cost-effective medical procedures, cut the costs of health insurance, improve the nation 's health through prevention and better nutrition, and eliminate graft and corruption in the health care industry while raising it to a level that 's steady with the rest of the …show more content…
Why don 't they charge more if doing so would increase profits? The reasons are many, ranging from the desire to help the poor to administrative controls over allowable changes. Also, the sensitivity to price change today is significantly less than the ultimate response to a price change in the long run. Some medical goods—especially those for which consumers have several choices and enough information in advance of purchase, such as allergy medications—are price elastic. For these goods, total revenues would decline if prices were increased. Thus, it 's more likely that a medical provider facing elastic demand is behaving more like a standard profit-maximizing firm. However, price controls, informal norms about overcharging, and other deviations from perfect competition may still be significant, even in the more price-sensitive medical