History And Evolution Of Health Care Economics
University of Phoenix
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. Supply and Demand is the relation between things that cause the price of something to be set. 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...