Economic Terms and Health Care History

By the 1960s, the formation of unions help to standardized employer health benefits and the access to insurance was prevalent for workers. This system seemed to be well established as the employers, private health insurance carries, physicians and hospitals would recycle health cost amongst each other. However, there were many underlying problems with this tightly organized system. Self employed individuals, small companies, the poor, and the unemployed had no organized access to health insurance. Also, at this time the majority of elderly retirees lost their health insurance in old age when they needed it most. These underserved populations began to seek care in emergency facilities driving the cost of urgent care back on the hospital and

Throughout the history of the United States, the economics of the health care system has experienced many changes. There are many factors to consider that has been the drive behind many of the changes within the health care system. Medical and surgical technologies are some factors that relate to the changes in health care. Besides these factors, allocating sources to fund health care services has always been the most critical factor. One might consider the economic term supply and demand when looking at the history of health care economics and the primary funding source. Health care funding

Randolph, F. (2009). The Evolution of the U.S. Healthcare System . : Gale, Cengage Learning. Retrieved from http://www.sciencescribe.net/articles/The_Evolution_of_the_U.S._Healthcare_System.pdf.

Health care spending in the United States of America as a percentage of the economy has reached astonishing heights, equating to 17.7 percent. This number is shocking when compared to other counties; in Australia health care is 8.9 percent, in United Kingdom 9.4 percent, in Canada 11.2 percent. If the American health care system were to hypothetically become its own economy, it would be the fifth-largest in the world. While these statistics sound troubling, they lead us to look for answers about the problems surrounding our system. The first health insurance company was created in the 1930s to give all American families an equal opportunity for hospital care and eventually led to a nationwide economic and social controversy that erupted in the 1990s and continued to be shaped by the government, insurance companies, doctors, and American citizens. In this paper, I will go in to detail about the various opinions regarding the controversy, the history behind health insurance companies, and the main dilemmas brought out by the health care crisis. Greedy insurance companies combined with high costs of doctor visits and pharmaceutical drugs or the inefficient hospitals all over America can only describe the beginning to this in depth crisis. Recently, the United States health care industry has become know for the outrageous costs of insurance models, developments of various social and health services programs, and the frequent changes in medicinal technology.

When contemplating health care policy changes, several economic issues in health care must be considered. These include the financial issues affecting the health sector and have an impact on health policies. Policy makers face unending challenges due to the health sector revenues that are always rising. Another challenge is decreased funding and failure of the health insurance services.

If we compare the health care financing of past and that of recent times, there exists a dramatic shift in the trends of the issue. In the past times, the

Health insurance began in the 1930’s when the Great Depression hit the United States. After the great depression it became very noticeable that health coverage was needed to protect the people and get them the health care treatment they needed. Too many people were dying of sickness and not able to afford the treatment. It wasn’t until the government tried to create some type of insurance to help with these costs. Medicare was created in 1965 for the elderly citizens. At that time there was also commercial and private insurance for Americans. “For years, clinicians have advocated for health insurance coverage for all Americans. Now, through the Affordable Care Act, the nation is one step closer to this goal. October 1, 2013, marks the

There are four evolutionary phases in healthcare. The first phase was the preindustrial era, which started in the middle 18th century to the beginning of the 19th century. At this time, American medicine was not developing as fast as other countries; in Britain, France, and Germany, medical science and research was much more advanced than America. The postindustrial era began in the late 19th century, physicians in America were becoming more successful than others in the world. The third phase was the corporate era, which was marked by the growth of managed care, organizational integration, the information revolution and globalization. Finally, the fourth phase is the one in which we are in today, it is still fairly new and is characterized by the health care reform, which was brought about by the Affordable Care Act.

In recent years, health care has been a huge topic in public debates, legislations, and even in deciding who will become the next president. There have been many acts, legislations, and debates on what the country has to do in regards to health care. According to University of Phoenix Read Me First HCS/235 (n.d.), “How health care is financed influences access to health care, how health care is delivered, the quality of health care provided, and its cost”.

Health care economics involves making plenty of choices. Individuals, groups, businesses, and organizations choose how to use resources . Economics and health care are linked, because health care professionals apply economics in their everyday professional activities. They are able to do this through resource allocation. Any health care organization has to plan out how they will use their resources to their advantage. Health care economics are able to incorporate terms like cost, quality, and resources. In this paper, I will compare these terms as they relate to health care economics. In this paper, I will also explain how they

One of the issues that is widely discussed and debated concerning the United States economy is the healthcare system. Unlike in the majority of developed and developing countries, the healthcare system in the United States is not public, meaning that the state does not provide free or cheap healthcare services. This paper addresses many of the factors contributing to the rising cost of healthcare.

The main historical developments that have shaped the health care delivery system in the United States. Knowledge of the history of health care is essential for understanding the main characteristics of the system as it exists today. For example, the system’s historical foundations explain why health care delivery in the United States has been resistant to national health insurance, which has been adopted by Canada and most European nations. Traditionally held American cultural beliefs and values, technological advances, social changes, economic constraints, and political

Healthcare industry in United States has been an important industry for a long time. It is one such industry that has representation from both public sector and private sector. The current health care system is segregated and fragmented in America. Some states have very effective and efficient healthcare system while some states lack the desired infrastructure. The evolution of healthcare system in USA can be traced back to 1750. The period from 1750 to 1849 is termed as preindustrial period where the care of sick people was primarily handled by families (Brian, 2010). The period of 1850 to 1969 is termed as postindustrial period which reflects the growth of organized medicine and systematic healthcare delivery.

Healthcare in the United States during the early 1900s through the World Wars would be described as “evolved”. The healthcare system has evolved from what healthcare used to be during the 1700s – 1800s; during this period, the healthcare system faced many challenges: lack of basic care available, high rate of mortality, disease epidemics and unhealthy living and working conditions. As we bypass this era, we’ve come to find that during the 1900s through the World Wars led to a more organized approach with technology and healthcare.

1A. Market failure is a situation in which the allocation of goods and services is not efficient. In any given market, the quantity of a product demanded by consumers does not equate to the quantity supplied by suppliers. This is a direct result of a lack of certain economically ideal factors, which prevents equilibrium.