Economics : The Financing Of Health Care

You have been asked by a health care magazine to write a series of articles focusing on health care financial concepts. The articles will be included in five consecutive issues and will be geared towards readers with little knowledge of finance. You must ensure that the articles are both informative and engaging to your audience. You must also ensure that your articles relate financial principles to the health care industry.

One of the major functions of a nurse manager is managing a budget and allocating resources necessary to manage the unit or facility effectively. “Major steps in the budgeting process include gathering information and planning, developing unit budgets, developing cash budgets, negotiating and revising, and using feedback to control budget results and improve future plans”(Yoder-Wise, 2012, p. 244). The nurse manager must be able to accommodate variances and acclimate the budget in both the projections and up-to-date expenditures. Proficiency in managing a unit level budget is essential for both a favorable variance and optimal patient outcomes. Budgeting entails reviewing revenues and expenses, staffing costs, supplies, and capital equipment costs (Contino, 2001). This case study examines personnel, overtime (OT), supplies, travel, equipment, and staff education and the manner in which management can address these factors.

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.

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

Barsukiewicz, C. K., Raffel, M. W., & Raffel, N. K. (2010). The U.S. health system: Origins and functions. (6th ed.). Mason, OH: Cengage Learning.

There are many factors that have influenced the changes of health care economics. Money and technology has definitely been the reason for the change of health care economics over the years. Money is want makes the economy evolve. There will be advancement in technology and there needs to be people are managing these to keep up with the changes. The U.S. has definitely progressed as far as influencing factors to change in new advancement of technology and medical care. Having a good financial manager in your organization will prepare for these upcoming advancements and changes. Money drives these advancements in

In 1946, President Truman signed the National Mental Health Act, allowing federal funds for education and research in mental health. By the time of the Great Depression and the World War II, asylums’ were in unsustainable conditions and traumatized veterans were returning home needing psychiatric attention. Also in a federal extent, Congress passed the Mental Health Study Act in 1955, establishing a commission to check policies and propose reforms in psychiatric treatments. Around that time the deinstitutionalization movement started changing the mental health picture.

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.

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.

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.

Every healthcare organization in our country relies on financial and economic gains. In other words, without these two important factors, no healthcare facility would ever survive. For example, healthcare facilities rely on supplies, staff and the proper financial knowledge. In fact, the price and amount of healthcare supplies are rising, which in turn can increase the cost of healthcare (Kabene et al.). Therefore, in non-profits like Yale New Haven Hospital, it is important to have an adequate balance of supplies in order to allow the healthcare providers to practice efficiently. For instance, there needs to be enough supplies in order for the doctors to keep up with the high demand of incoming patients. When there is a rise in the demand of healthcare supplies such as shots, medication, vaccines etc., the more the market will produce, allowing more money to be made. The healthcare markets will be producing financial gains and so will the hospitals that are distributing these goods, which causes supply and demand to be at an all time high. Either way, without the availability of healthcare staff and supplies, the financial well being of any hospital would be non-existent and so would the healthcare market and that is why there is a strong relationship between the two.

Government financed health care typically has more control to place limitations on care offered to patients and doctors in order to keep costs down. Since payers must try to deliver the most care for the

Health System Sustainability is attracting unprecedented global attention, particularly from organisations such as the WHO and OECD. Discuss (i) Why sustainability is becoming an important health system objective in industrialised nations; and (ii) Two policies that could potentially alleviate the economic pressures faced by modern health care systems.

Submission of this assignment certifies my compliance with the UHCL honesty code that I signed at the start of the semester. I pledge on my honor that I have completed with this policy, inclusive of not acquiring unauthorized information or assistance, avoiding plagiarism, avoiding conspiracy, avoiding fabrication, avoiding abuse of resources and materials, and reporting the academic dishonesty of others.

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.