A Research Study On Health Economics

1261 WordsJun 5, 20156 Pages
Health Economics is the field of study in which a strict analysis of healthcare system done. It applies the economics theories of consumer, manufacturer and choice; health economics aims at understanding the general trends in the industry and the behavior of everyone involved, from consumers to healthcare providers and government. Healthcare system in United States underwent a significant change between the years 1750 and 2000. It was only a system of home remedies and system of healthcare providers that was not very structured. It later evolved into very advanced, complex system that involved innovative technologies and was bureaucratically controlled and often called a medical, industrial complex or health industry. This period not only observed the evolution of practices in medicine, the governmental institutions themselves changed along with healthcare programs, drug regulations, and insurance policies. The most recent development in this sector is the establishment of healthcare corporations, which makes a profit by providing healthcare. 19th century One breakthrough event was the origination of private health insurance around the middle of 19th century. During the latter half, mutual aid system that arose from Europe was embraced in the United States. It based on collections of small contributions from each member, and it promised that a subsidy would be given at the time of any incident of sickness or disability. This system went on to take the shape of mutual
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