Comparison Paper

1140 Words Sep 7th, 2010 5 Pages
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Comparison Paper

University of Phoenix

HCS/552 Health Care Economics

Barbara Smardz

April 6, 2009

According to Robert Carroll, (2007) health care costs continue to rise in the United States. The growth of health care costs has been exceeding the GDP growth by two percentage points annually since 1940. These rising costs impose a substantial burden on the U.S. economy. Higher spending on public programs like Medicaid and Medicare strains state and federal budgets. Higher insurance premiums pose a challenge for employees and burden workers with higher health costs and lower wage increases.

“The burden of rising health care costs is particularly problematic for small
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People have many desires, among then good health, but there is a lack of resources to provide all things to all people. Some people would consider resources when talking about health care economics; could include good health, education and access to financial means to afford health care costs or insurance premiums. In the presence of this scarcity, someone, or some process, must decide what mixture of goods and services to produce, what quantity of each is to be produced, and how to allocate the production to participate in the economy. Access and use of available resources can impact one health. “Individuals can undertake a variety of actions to achieve their desired level of health, which is constrained by physical factors and is subject to various risks. People’s choices about living location, work, and diet, recreation, over the counter medication, recreational drug use and formal health care can all affect their health status. Perhaps, startlingly, studies of factors that determine health in affluent societies indicate that changes in lifestyle choices and status such as environment, income, education, and cigarette consumption outweigh the contribution of changes in health care services.” (Answers.com, retrieved 4/6/09)

Costs:

In economics, costs can be defined as the price paid to acquire, produce, accomplish, or maintain anything. (Dictionary.reference.com, retrieved 4/6/09). Cost can be the amount paid or required in payment

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