Implications Of Health Economics Concepts For Healthcare

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.

This paper analyzes seven view points on the topic of Philosophy of Healthcare. The seven view points are blended into this paper by discussing what factors highly influenced my decision to choose healthcare as my set profession in life. Also discussing the Nature of Mankind, stating a few qualities that are highly important in our society and give examples of how it is used in our everyday life. This paper will further discuss the Brokenness of Mankind and what I believe are my most important qualities that I will be able to bring into the medical field. Discuss

In pursuant to that aim, I began my studies at the Indian Institute of Management post completion of medical training. The exposure to the various components involved in running a professional organization, such as human resources or operations, aided in developing a more nuanced and holistic viewpoint concerning healthcare. The exposure to a culture of task execution that relied on a team comprised of individuals with multifaceted talents helped advance my understanding of harmonization in group dynamics to maximize outcomes. This spurred the realization that the physician may be the spine of healthcare, but the spine cannot be functional without the entirety of the skeletal

The purpose of this paper is to review and discuss the current level of national healthcare expenditures and to determine if we as Americans are spending too much on healthcare. The author of this paper will provide examples and solutions where we as a nation should add or cut from the healthcare expenditures. This paper will also detail how the general public's healthcare needs are being paid for, the biggest economic healthcare challenge, why the challenge should be addressed, and how this challenge to be financed.

Hospitals have organizational structures that allows them to carry out their duties efficiently and successfully. What separates the organizational structure of a healthcare organization from a business, essentially that the hospital 's organization is chiefly founded on the amalgamation of medical and administrative staff (Carayon, et al., 2014). The organizational structure of the twenty-first century solutions in health care hospitals involves, both divisional and hierarchical structure. In the of the chain of command hierarchy, there are various levels of professional’s that fall under other levels within the facility, and each staff member is organized in regards to departments that are related to their (KSA’s) skills, attributes and job duties (Carayon, et al., 2014). Hospital organization philosophies is based on development of values and ethics, with the understanding on moral principles relating to human conduct. These systems are comprised with the processes in decision making and determining the best actions to consider between the difficult alternatives when pertaining to patient care.

There are 10 key economic concepts of health care. Each of the economic concepts is important when evaluating the different issues related to health care such as the increasing cost of health care. Henderson (2015), list the 10 concepts as follows: scarcity and choice, opportunity cost, marginal analysis, self-interest, markets and pricing, supply and demand, competition, efficiency, market failure, and comparative, advantage. The concept scarcity and choice address the issues related to the limited supply resources and the need to economize (Henderson, 2015). An illustration of the importance of the scarcity and choice concept is when there is a low quantity of available resources to meet the demand of individuals and rationing occurs. Opportunity cost emphasizes

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.

The nation health care system is facing significant challenges that requiring immediate major reforms. Lately close attention is drawn to the uninsured Americans, such as the most painful dilemmas of health care system. The problem of uninsured and uncompensated care continues significantly contribute to the rise of the health care cost and has been a chief topic for public debates and political campaigns for a long time. The purpose of this paper is to describe the current extent of uninsured care and provide the strategies from the nursing point of view how to change the trajectory of this prevalent issue in the USA health care system.

Concerning the demand for inputs x and y used in production of a final product (N) , it is commonly stated that the price elasticity of demand for input x is directly correlated and dependent

A physician must be well rounded in a variety of fields to provide effective care. First, an interest in learning scientific knowledge must be accompanied by the ability to translate that knowledge into methods of treatment. Because science is constantly changing and improving, a physician should be continuously expanding their scientific learning within and outside of their respective fields. Most of the coursework that I have taken reflects my interest in the intersection between biomedical science and its applications through an anthropological lens. For example, I have performed public

Traditionally the American health care system relied heavily a repayment model referred to as fee-for-service which is described as a form of repayment that generates a greater emphasis on the volume of patients seen rather than healthy outcomes produced under a physician’s care. The fee-for-service repayment method poses multiple issues such as: duplicating services which in turn renders some of the services unnecessary, utilization of expensive technology because of the revenue generation rather than as a valuable diagnostic tool and crowding caseloads to an unmanageable level in order to achieve highest level of reimbursement. The aforementioned events not only have the possibility of being unethical but also drive up the cost of health care in the United States. Currently, health care costs have not only increased, but the Office of the Actuary projected that U.S. healthcare spending will make up nearly 20 percent of the economy in 2019. One would argue that if as a country we are spending so much on health care that we should be a “healthier” nation, but this is not the case. Even though America continues to be the largest spender on health care, collectively we experience a lower life expectancy rate compared to other industrialized countries (hfma.com, 2011, p. 2). To assist with climbing health care rates healthcare purchasers have called for repayment reform. One such reform that has been on the forefront is Value-Based Health Care (VBH), also known as outcome

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.

Further, the intellect is evolving interdisciplinary salad. Drink in worry, they have a working group of leading organizations integrate mainstream services, change the values of the organization, new modes of delivery service. In this environment, in which the various types of doctors in a team that works well, in order that when the allies of the generals-in potency, has to drive on, the events of the book and to promote improvements in the patient. Preliminary research suggests that it is common, in the interdisciplinary team under the leadership and guidance of the development of a model that requires, if a team is more to it is become the head of the corner is reformed radically in the health sector of Interdisciplinary Studies.

I am writing to express my interest in the PhD scholarship in Health Economics at Monash University which was advertised in seek career website on 14th September 2017.

Modern society has developed formal institutions for patient care. The hospital a major institution offers considerable advantages to both patient and society. Number of health problems requires intensive medical treatment and personal care which normally can’t be available in patients home or in the clinic of a doctor. This is possible only where a large number or professionally and technically skilled people apply their knowledge & skill with the world class expertise advanced sophisticated equipment and appliances. The excellence of hospital services depend on how well the human and material resources are utilized to promote patient care.