The Healthcare Market
HSA 510: Health Economics
Dr. David B. Tataw, PhD, FACHE
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…show more content… Spending not correlated with better outcomes: Higher spending in Ohio does not correlate to better value. Ohioans spend more per person on health care than residents in all but 17 states, yet higher spending has not resulted in better outcomes. The run-up in health insurance costs that prevailed through much of the 1970s and 1980s made employers take action to control costs. Increased competition is causing hospitals to do whatever they can to reduce costs. As a result, the rate of growth in health care spending on a national basis is now more moderate than in recent years and the growth of corporate health care costs has slowed to a standstill.
Half of the uninsured are in families where the head of household has a full-time job. Not only is the number of uninsured growing, so too are the ranks of the underinsured. About 29 million people in this country with private insurance are at risk of financial disaster in the case of serious illness or injury. This number increased by nearly 50% in the last decade. Denial of coverage for pre-existing conditions is a common practice by insurance companies whereby the insurer refuses to provide coverage for already-existing conditions such as asthma, diabetes, heart disease or cancer (if they have been treated and are not currently active). The Affordable Health Care Act has helped prevent this from happening