Essay Health Economics

Q2-Evaluate Vegemite’s brand image based on the social media research undertaken by Talbot and his team .In light of these historic factors, Why did Talbot want to revitalize the brand?

Your GP can assess whether you have incontinence, decide which type of incontinence you have, give general advice on controlling symptoms of incontinence, provide information on pelvic floor exercises and bladder retraining, and give treatment for incontinence with prescribed medicines. If lifestyle changes and treatments don't solve the problem, your GP can refer you to a continence adviser or specialist.

It has been widely accepted that rationing of the National Health Service (NHS) is paramount to maintaining and balancing public resources. In a utopian world it would be possible to provide every patient with every medical treatment that they would require, however this is not possible and therefore rationing has to be applied by local health authorities. Simply, there are not enough resources and medical staff available to keep up with the ever evolving demands of the public, and once more, these medical resources can’t at times tend to the needs of the medical advancements made every day. Some equipment and medicines are extremely costly and the NHS struggles to balance public budgets in the face of such advancements. One survey of a primary care trust in the NHS found that the panel that made that decision about funding new treatments was faced with applications that would have

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

emerge as a professional entity until the beginning of the 20th century, with the progress in biomedical science. Since then, the

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.

Health care economics studies such issues as demand for medical care, pharmaceutical prices, competition among health care providers and insurers, and financing of health care services. Castor Collins has put together a plan which will help solve many issues facing the organization. The plan is built to maximize profit for the company and minimize the risk of poor choices provided to individuals who will cause the organization to fall.

Grossman’s model states that a person utility is based on health (H) and other non-health related goods (Z) that the person consumes. The production possibility frontier for Grossman model shows the tradeoff between home good production (Z) and health (H). Unlike usual production possibility frontiers, an individual needs an optimal level of H to maximize consumption of Z goods.

This worldwide phenomenon has been brought into focus by various health care reforms and other system-level developments (Farrar, Ryan, Ross, and Ludbrook, 2000). Meaning there are more claims on resources than there are resources available, some form of priority setting must occur. This making resources are scarce and there is a need, regardless of how many resources are available in total, to make choices about what to fund and what not to fund.

The more value you get per pound, the better. The lower the cost per QALYs, the better. Cost-effectiveness based on cost per QALY as measurement for the distribution of health resources determines and compares costs against its gain in health outcome. One QALY equals one year in full health and the aim is to improve the wellbeing of people and the measurement for this is the health-related quality of life. Peter Singer (2009) defends the use of cost-effectiveness, for 1) it helps to identify the opportunity costs of a proposal, that is, the value of alternative use of resources; 2) it focuses resources on where they can do most “good” and hence generate most QALYs with your budget. The basic idea underlying cost-effectiveness is that a QALY is morally valuable regardless of the distribution. Cost-effectiveness as a utilitarian measure of value is insensitive as to how wellbeing or QALYs ought to be distributed among people in

Westmount Nursing Inc. is a for profit chain with seven different nursing homes. It has a grown from a small few bed facility to a facility with 4 different divisions that made to help make seniors more independent. The Westmount Nursing Homes were in search for a chief executive officer and president, which was filled by Shirley Carpenter. After Shirley Carpenter came on to the company, many changes were made and implemented. Some implementations were successfully, but she was also challenged with many problems with the Union Federation of Nurses and the Board of directors regarding wages and total quality management implementation. My recommendation would be for Shirley to stop the implementation of total quality management and focus on

Against a background of increasing demands on limited resources, health economics is exerting an influence on decision making at all levels of health care. Health economics seeks to facilitate decision making by offering an explicit decision making framework based on the principle of efficiency. It is not the only consideration but it is an important one and practitioners will need to have an understanding of its basic principles and how it can impact on clinical decision making.

One of the must have necessities of a human being is the provision of sound health care and every government, both national or local is obligated to offer this essential service to all the citizens without favor or any discrimination of any kind. Where else it is paramount that every employer to make sure the health and the safety of the employees are given the first priory. This will make sure the employees who are injured during the work are taken care of, and they are relieved the burden of the cost of health care. Thus, it is common to find most companies get the services of insurance companies and other organizations which provide health care programs for workers such as IndUShealth to make sure the welfare of the employees is in safe

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

The current research programs in the Centre for Health Economic at Monash University took my interest as the university is providing a wide range of research areas in the field of Health Economics. Furthermore, the researches are mainly centred on economic evaluation, health outcomes and performance in the health care system which help me to get a comprehensive knowledge and understanding of micro econometrics and other statistical methods, while focusing on Health Economics. In addition to my postgraduate experience, during my volunteer work at King Edward Memorial Hospital and Multiple Sclerosis Society of Western Australia, I have acquired experience in designing questionnaires in relation to ongoing health programs and analysed the surveys’ data focusing on pre-and post-health outcomes. All these academic and extracurricular activities enhance my interest in Health Economics and therefore I am willing to go for further studies to have a sound knowledge of in this specific field.