Healthcare Essay

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?

“The amount people pay for health insurance increased 30 percent from 2001 to 2005, while income for the same period of time only increased 3 percent.” (Source: Robert Wood Johnson Foundation). The rising cost of healthcare is a huge problem in America today. In this paper I will analyze the different issues and causes for the increase in cost.

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”.

Although, it is important to note that the increase in healthcare spending directly influences the economy of the United States and its economic development. As healthcare prices increase, employers, those who carry a significant portion of the burden, attempt to pass healthcare spending to their employees. As a result, employees are less attracted to join such companies, which in turn results in decreased productivity. The result of this chain is obvious: a slowdown of overall nation’s economic growth.

While some argue that a switch to universal healthcare will cost up to $1.5trillion,4 there are other factors at play that influence the economy. Most Americans have health insurance through their employer which causes a huge financial strain on that employer, which is in turn reflected in product and service prices. If the price of goods and services goes up, that could end up hurting the United States’ global competitiveness. Citizens are unwilling to leave their current employer and possibly start their own business for fear of not being able to afford health insurance on their own.5 Some of those would-be entrepreneurs could create the next big product that becomes a critical part of the national economy. On average, the typical family of four in America pays over $20,000 annually on health insurance,7 money that could be pushed back into the economy. This is all in addition to the societal costs caused by the lack of universal health care such as fewer years in the workforce, caused by poor health, and higher cost to public programs like Medicare and the criminal justice system.5 If someone is uninsured until they reach the appropriate age to enroll in Medicare, they could have pre-existing, otherwise preventable conditions that will end up costing more money than it would have to treat them in the first place. In 2005, economist Dr. Kenneth Thorpe published a report in which he calculated the overall

Gross Domestic Product (GDP) is measures the total value of all final goods and services produced within a country's borders. It is used worldwide and by far the most popular method for measuring an economy's output. For example, “Australia's economy has experienced

Gross domestic product (GDP) is the total output of absolute commodities and services that a nation puts out including exports but not including imports. Gross domestic product is used to measure the health of a national and global economy. When gross domestic product is increasing, particularly if inflation is not an issue, employees and industries are usually better off than when it is not. GDP signifies the economic growth and production, symbolizing the whole dollar value of all goods and services produced over a precise time period. It sums up the output created within the margins of a country. GDP is made up of goods and services produced for sale in the market. The GDP is the sum of domestic consumption; new capital investments; government spending, and the difference between the values of goods imported into the United States and the value of exports to other countries.

Concerns on the spending on the healthcare system are also real. A large portion of the Gross Domestic Product (GDP) goes to financing healthcare. According to studies, the major worry is that with the inflation of cost in medical services provision, its spending will have a negative effect on all the other indicators of growth. That is, currently the healthcare depends on insurance for funding. Accordingly, it will depend on government taxes and the funding coming from employers. Increasing medical care cost will prompt the government to increase taxes influencing negatively on the economy. Employers on

Gross Domestic Product (GDP) is the market value of all final goods and services produced by factors of production within a country in a given period of time. It can be calculated using either the income, output, or expenditure method as illustrated on the circular flow of income diagram below.

The Gross Domestic Product (GDP) represents the monetary value of all the finished goods and services produced within a country 's geographic borders in a determined period of time. It is used as a quantitative measure of the total economic activity of a nation, and it is usually calculated on an annual basis.

The Gross Domestic Product is a monetary measure of the value of all final goods and services produced. GDP estimates are commonly used to determine the economic performance of a whole country or region .It also measures economic productivity and growth, what GDP represents, has a large impact on nearly everyone within that economy. For example, when the economy is healthy, you will typically see low unemployment and wage increases as businesses demand labor to meet the growing economy. A significant change in GDP, whether up or down, usually has a significant effect on the stock market and the economy at large.

period of time, as well as a measurement of economic viability. It is calculated by adding the

Gross Domestic Product (GDP) is an economic objective used to predict and measure economic growth and output. GDP is defined as the monetary value of all goods and services produced in an economy in one year. This includes manufactured and agricultural goods, as well as services such as hairdressing and plumbing.

Gross Domestic Product (GDP), on the other hand, is a measure of the total value of all goods produced in a country each year. In a sense it is the total income of a country in a year, but not the total income of the government, since they collect only part of the GDP in tax revenues each year.

Gross Domestic product is nothing but the aggregate value of the total goods and services in a country in the form of their national currency. In a nutshell it defines the monetary health of a country.