Health Care Through the Eyes of the Economist The health economics discipline holds great value. Economics is based on the assumption that resources available will always prove inadequate (i.e., scarce) when it comes to comprehensively satisfying human desires. This theory underlies all aspects of economics. Consequently, resource utilization in any one area implies, inevitably, that these cannot be used elsewhere, and that, the profits that could have been gleaned from their utilization in these other areas have to be sacrificed. Clinical research administrators are constantly making choices with regard to how they must allocate time, the activities into which their energies ought to be channeled and where to spend the funds available to them. Making choices is fundamental to their profession. Health care providers are increasingly faced with very emotive and powerful choices. Health economics fails to solve these tricky and challenging problems. Instead, it offers a way of thinking, which may aid in attaining potential solutions to such frequently-contentious issues. Its aim is: identifying which service bundle or package would offer maximum health benefits to society, considering available resources. The adoption of techniques from health economics may aid with decision-making in this regard, but must always form only a component of a complex process, considering other factors....
This healthcare dilemma is experienced by nearly every healthcare system. It represents a small-scale version of the primary economic issue faced by all persons, institutions, and communities -- that of merging infinite demands, wants, and needs with limited resource (e.g., time, funds and expertise) availability. The exponential rise in health service demand is seen to occur alongside pressures on funding institutions and governments to judiciously handle the quantity of resources at hand, for utilization by health services providers (Phillips, 2005).
Health Care Reform Federal Deficit The American Health Care Crisis and the Federal Deficit The United States spends more than any other country on medical care. In 2006, U.S. health care spending was $2.1 trillion, or 16% of our gross domestic product. At the same time, more than 45 million Americans lack health insurance and our health outcomes (life expectancy, infant mortality, and mortality amenable to health care) are mediocre compared with
Pharmaceutical industries have to operate in an environment that is highly competitive and subject to a wide variety of internal and external constraints. In recent times, there has been an increasing trend to reduce the cost of operation while competing with other companies that manufacture products that treat similar afflictions and ailments. The complexities in drug research and development and regulations have created an industry that is subject to intense
Innovations in product are not transmitted throughout the organization. This means that there are production synergies between the different Coloplast facilities that are not presently exploited. The company can mitigate the impact of health care reform therefore by improving its product processes. Their industry is beginning to shift from cash cow status to one characterized by tight margins and high volumes. Coloplast must become a low-cost producer, to use Michael
Apart from that there is another type of risk which can surface even in case the market continues its upward march. In the event employees exercise their ESOPs in huge numbers, external shareholders could oppose the diluting impact of these option grants on the value of their shares. A situation might crop up that old possible tensions among employee interests and shareholder interests are not all of a sudden
Thirdly, the growing up-to-the-minute exposure of the journalists to the physicality of the war detracted from the big picture and instead exaggerated the importance of singular happenings and specific events. It is in the loss of the big picture that the Bush regime is most able to capitalize on its military's control of the press. While in the 1990s, the President's father struggled with "pooled" journalists and the lack of
Statement 3 Another important issue to consider in the contraction of debt is represented by the impact of this debt on the company stakeholders -- employees, business partners, the public, and most importantly, the share holders. The primary scope of the economic agent is that of creating value for its stakeholders, but excessive debt could jeopardize this desire, especially since debt is money that has to be repaid and it as
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