Hcs 440 Discussion Questions
Angela Hunter-Cole
HCS 440 Economics: The Financing of Health Care
Week One Discussion Questions
? Most people feel health care is priceless; however, health care comes with a steep cost. What factors must be considered when looking at the true cost of care?
According to website Cha Cha.com the factors that must be considered when looking at the true cost of health care are price, security, availability, and dependability. Cost is a driving factor in health care, how much health care services have increased along with health care insurance costs/premiums. There are some moral factors with how insured Americans take stances on covering the underinsured and uninsured. Money is the biggest factor and many insured Americans do not feel it is their duty to pay for those who are not insured.
? What is a demand curve? Provide an example of a demand curve in health care. How could this example affect the economics of health care?
A demand curve in economics can be defined as the graph or mathematical diagram that shows the relationship between the price of a certain commodity and the amount the consumer is willing and able to pay for it. An example of a demand curve in health care would be, I guess we could use durable medical equipment. The demand for power chairs/electric scooters exceeds the supply because people are living longer and the need (demand) for power chairs outweighs the production rates and supply. The costs of these power chairs also increase because of the demand and need for them.
? What is revenue? How is marginal revenue determined? Why is it necessary to at least have marginal revenue in a health care organization?
Revenue is income that a business receives from the sales of good (products) and or services. The total of money coming in a business. Marginal revenue in microeconomics is the additional revenue R that is earned from the sale of one additional unit of product. Marginal revenue is found by dividing the change in
HCS 440 Economics: The Financing of Health Care
Week One Discussion Questions
? Most people feel health care is priceless; however, health care comes with a steep cost. What factors must be considered when looking at the true cost of care?
According to website Cha Cha.com the factors that must be considered when looking at the true cost of health care are price, security, availability, and dependability. Cost is a driving factor in health care, how much health care services have increased along with health care insurance costs/premiums. There are some moral factors with how insured Americans take stances on covering the underinsured and uninsured. Money is the biggest factor and many insured Americans do not feel it is their duty to pay for those who are not insured.
? What is a demand curve? Provide an example of a demand curve in health care. How could this example affect the economics of health care?
A demand curve in economics can be defined as the graph or mathematical diagram that shows the relationship between the price of a certain commodity and the amount the consumer is willing and able to pay for it. An example of a demand curve in health care would be, I guess we could use durable medical equipment. The demand for power chairs/electric scooters exceeds the supply because people are living longer and the need (demand) for power chairs outweighs the production rates and supply. The costs of these power chairs also increase because of the demand and need for them.
? What is revenue? How is marginal revenue determined? Why is it necessary to at least have marginal revenue in a health care organization?
Revenue is income that a business receives from the sales of good (products) and or services. The total of money coming in a business. Marginal revenue in microeconomics is the additional revenue R that is earned from the sale of one additional unit of product. Marginal revenue is found by dividing the change in