Hcs 440: History And Evolution Of Health Care Economics
Sacha Hammack
History And Evolution Of Health Care Economics
University of Phoenix
HCS/440
History and Evolution of Health Care
Healthcare is an everyday thing to Americans now in the Twenty-first Century but before the 1900’s this would have been a totally different concept. Economics is the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of mankind. There are several different reasons that healthcare economics have changed but the most substantial reason would be the supply and demand of care. This paper is going to discuss the history and the evolution of health care and supply a timeline showing where the certain aspects of health care history came in. …show more content…
There are millions of people in the world who are in need of care and the more care people need the more equipment and treatments are needed. There is new technologies coming out every year and new treatments causing prices to go up, this is where supply and demand comes in. Health care is one of the largest items that are going to have a supply and demand because of the needs of its patients. The more that people get sick the greater the need for health care, this may not be the best thing for certain patients because with the greater demand for health care the higher the costs may go. During the 1900’s the American Medical Association (AMA) started to become a force that was found nationwide. During the 1900’s surgery was becoming the common thing for doctors to do, thus leading to patients having to pay money for their care. This has lead to the change in how people pay for their care and therefore making the way for funding of health care. Before this time doctors where just people who happened to be taking care of people, but when the AMA was formed it lead to there being a place for the profession of Doctors and …show more content…
“Between 1929 and 1930, average hospital receipts plummeted from more than $200 per patient to less than $60. Hospitals then began to turn to insurance plans as a way to guarantee a steady cash flow by spreading the financial risk.” (Wasley, 1993). This is where health care insurance started to become a large aspect of care for people in the United States. This is also the time where supply and demand became hard for people because there was a great need for care but not money to pay for the care. Health care economics changed in the 1940’s and 1950’s when employers started to offer their employees health care, this made health care a gross domestic product, or the market value of care for Americans. During the 1950’s and 1960’s amendments where made because not all people where employed and a lot of elderly could not work therefore they were unable to get health insurance or pay for the medical care that they needed. This started the Medicaid and Medicare reforms making it the Governments need to help pay for
History And Evolution Of Health Care Economics
University of Phoenix
HCS/440
History and Evolution of Health Care
Healthcare is an everyday thing to Americans now in the Twenty-first Century but before the 1900’s this would have been a totally different concept. Economics is the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of mankind. There are several different reasons that healthcare economics have changed but the most substantial reason would be the supply and demand of care. This paper is going to discuss the history and the evolution of health care and supply a timeline showing where the certain aspects of health care history came in. …show more content…
There are millions of people in the world who are in need of care and the more care people need the more equipment and treatments are needed. There is new technologies coming out every year and new treatments causing prices to go up, this is where supply and demand comes in. Health care is one of the largest items that are going to have a supply and demand because of the needs of its patients. The more that people get sick the greater the need for health care, this may not be the best thing for certain patients because with the greater demand for health care the higher the costs may go. During the 1900’s the American Medical Association (AMA) started to become a force that was found nationwide. During the 1900’s surgery was becoming the common thing for doctors to do, thus leading to patients having to pay money for their care. This has lead to the change in how people pay for their care and therefore making the way for funding of health care. Before this time doctors where just people who happened to be taking care of people, but when the AMA was formed it lead to there being a place for the profession of Doctors and …show more content…
“Between 1929 and 1930, average hospital receipts plummeted from more than $200 per patient to less than $60. Hospitals then began to turn to insurance plans as a way to guarantee a steady cash flow by spreading the financial risk.” (Wasley, 1993). This is where health care insurance started to become a large aspect of care for people in the United States. This is also the time where supply and demand became hard for people because there was a great need for care but not money to pay for the care. Health care economics changed in the 1940’s and 1950’s when employers started to offer their employees health care, this made health care a gross domestic product, or the market value of care for Americans. During the 1950’s and 1960’s amendments where made because not all people where employed and a lot of elderly could not work therefore they were unable to get health insurance or pay for the medical care that they needed. This started the Medicaid and Medicare reforms making it the Governments need to help pay for