Health Care Economics
Medical Care is never free, although the individual may pay nothing?
Medical Care is both a commodity and a service. The process of consuming medical care has a cost, even if the after insurance price is zero to the consumer. For instance, there are hard costs that include the buildings, equipment and supplies that house the medical care or office. There are the wages that are paid for the administration and provision of healthcare, and a cost for every procedure, every drug, and every minute of healthcare operations. In an economy in which there is insurance coverage, costs are not static, but variable. The "cost" of something may be $100, but because of economies of scale and negotiations, the payment for that service may only be $60 once the insurance company has verified the claim. The individual may pay nothing of that if their firm pays their premium, or may pay only a very small portion of the overall bill based on co-payment arrangements. Similarly, if someone comes to the Emergency Room and cannot pay, there may be no out of pocket cost to them, but someone does have to pay, or absorb, the cost of doing business.
In the medical field, equipment is expensive, pharmaceuticals are expensive, and often, after 10-12 years of schooling and expertise, physician and specialist care is expensive. If we think of medical care as a tangible commodity, while we may not consume it in the traditional manner, we do consume it by using it; whether needed or unneeded. Then, when we add ancillary healthcare costs to the mix, we end up with the five major health risks brought upon by lifestyle costing over $135 billion to the American economy per year. The "costs" of medical care spiral -- if 30% of a given population...
Healthcare At the high end, the U.S. has the best health care system in the world, leading the way in terms of innovation and quality of care. The problem with the system is that the distribution of quality, and of care itself, is uneven. There are many problems that emerge when the system is subject to closer inspection. The U.S. ranks poorly with respect to health outcomes among industrialized nations. Millions
Health Care As human beings, our health and longevity have never been better. Many people today live to 100 years and beyond, and often in good and active health. One of the major reasons for this is better health care and more access to health care for more people. On the other hand, however, many people do not have access to the same health care services as others. Often, the main
Health Care Disparities Race Related Healthcare disparities Serial number Socioeconomic status and health Correlation between socioeconomic status and race Health insurance and health Who are the uninsured people? Causes of health care disparities Suggestions for better health care system The latest studies have shown that in spite of the steady developments in the overall health of the United States, racial and ethnic minorities still experience an inferior quality of health services and are less likely to receive routine medical
What this means is that the lifetime limits on most benefits are barred for all latest health insurance plans. Another interesting thing is the reviews premium increase (Wakefield, 2010). This is saying that insurance companies must now openly defend any type of unreasonable rate hikes. The last thing is that it helps a person get the most from all of their premium dollars. In other words, a person's premium
Healthcare Policy Systems: Hong Kong, Australia VOUCHERS FOR THE ELDERLY Healthcare Policy Systems in Hong Kong and Australia Primary Health Care for the Elderly in Hong Kong Primary care is the starting point in the healthcare process (PCO, 2011). A good one is made available to the public for a comprehensive, holistic, coordinated and in locations accessible to where people live or work. It also provides preventive care and optimal disease management. In Hong
It could occur through customization, whereby the manufacturer works with the health care provider to build something, or it could occur as the result of competition. In that scenario, the manufacturer needs to offer a higher level of service and better quality of product to the health care provider in order to win contracts. Increased competition drives changes in the way that the manufacturers do business, and these changes
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