My niece LuAnn has decided that she would like to have a career as a doctor. She is a very intelligent high-school student who is looking into her future and wants to make the right choices about her future. She has called me for advice about her pursuing a career in the medial field as a doctor. My niece LuAnn would like to find the best location for school and also a location for a medical career that goes beyond school. She knows I am taking a course in business economics and has asked me to put together a portfolio of information I gather on the market for physicians in terms of supply and demand, elasticity, economic profit and loss and cost of production. Of course as her aunt I am more than willing to help and I want my niece to be knowledgeable with the most up to date information and pertinent information possible on this career choice. I have decided to educate myself about the marker for this particular career and treat this project as if it was my own career choice. Hopefully with the information I gather and provide to my niece she will have the tools necessary to make an educated decision and evaluate her career choice. The demand for health care in the United States shows that people are willing to pay the minimum price for service. The demand for physicians depends on many factors. From the needs of the population, income level of the people, technological constraints related to what consumers demand and cultural considerations. Demand for physicians
Deciding to be a Diagnostic Medical Sonographer was not an easy or fast decision. Like everything else in life, my decision was gradual and time-consuming. However, being involved in the medical field was always something that I longed to do. Most other kids want to be a firefighter, police man, or President of the United States. For me I always knew that my heart belonged in the hospital.
This paper will analyze a physician’s careers and study the trends at which correlated with not moving and career availability in the field. This analysis will related this declining trend of movement to the Law of Demand and Supply focusing on the physicians.
I have learned from my experience that there is no better place in this world other than this country to learn about new cases or to do a research project or to avail the best treatments to my patients.With the latest technologies and rare cases found here, I wish to pursue my career as an internist in the United States.I have many attributes to contribute to Internal Medicine.My family has taught me the values of hardwork,honesty,dedication and commitment to goals.I am a critical thinker and problem solver and I will deliver all these to my residency program.Each patient is a educator for me and this teaching attracts me to academics and I look forward to being part of an institution that provides a healthy learning environment based on open
Part of the cost-driving factor seen here is in the gluttony of physicians who provide care to a patient. In areas which are high in physicians supply, competition might promote utilizing more expensive procedures and treatments in the care of patients. The amount spent on health care is also not beneficial to the outcomes that come out of such care (Emanuel,
Delivery of health care is under an imperfect market: Various providers exist with varying prices. Hence, the lower the price, the higher the demand and vice versa.
My career goals consists of graduating from a four year college and applying to medical school, where I would continue my education to become a physician. Since the medical field consists of rigorous and tedious tasks, I need to further reinforce my critical and social skills. The LSAMP program offers workshops that can help me meet other like minded people all while reinforcing my critical thinking skills. Joining this program would benefit me greatly by exposing me to several social environments. These social environments can help me develop and strengthen my social skills; skills that would further prepare me for the strenuous challenge that accompanies medical school. Leadership skills are also crucial in becoming a physician, which is
Health care spending in the United States is the highest then in any other country. According to Kane (2012), the Organization for Economic Co-operation and Development (OECD) there are less physicians per person than in other OECD countries. For example there was 2.4 practicing physicians in the U.S. per 1,000 people. The average for OECD was 3.1, the U.S. fell well below. In 2012 $8,233 was spent on health care per year per person, this was “two and a half times more than most of the developed nations in the world”(Kane, 2012). This paper will discuss the level of current national health care spending, whether this spending is too much or not enough, if the nation should add or cut funds, and how the public’s
The demand for medical care is derived from our demand for good health. Michael Grossman was the first to do econometric research on this topic. "Grossman 's work established two approaches for consideration. In the first, medical care is viewed as an input in the production function for health, and in the second, as an output produced by medical care providers (Henderson, p.142)." There are two main factors that determine the demand for medical care. The first is the patient factor. This includes a patient 's health status, demographic characteristics and economic status. The second is the physician factor. This is an interesting topic because it introduces the principal (patient)-agent (physician)
There is a high demand for health care services, supply, the price of health care procedures, and shortages. The price for health care services can be very high because the demand is high. There was recently a health care reform. Meaning, that health care insurance is more affordable. Giving consumers that need extensive health care services, affordable insurance will bring the demand for health care to increase. With more consumers seeking health care services we have to increase our supply of doctors, nurses, and hospital services including procedures and testing. But is that possible or even realistic? The purpose of this paper is to analyze the supply and demand of health care.
Having the amount doctors are without question one of the most crucial components of any country’s health. Unfortunately, some estimates show that our country’s shortage of doctors may be as high as the hundreds of thousands. This alarming lack of medical professionals will only get worse as the elderly population increases due to the fact that these group of people require more care. The shortages of doctors also affect the population by impeding in the doctor’s ability to provide adequate health care to their patients due to the fact that they are being spread too thin. Much like in a classroom setting, 20 students may not get the same level of attention and care as a classroom of say, 10 students. The same can be said for a doctor and their patients. This shortage can also lead to longer waiting lines and an increase in difficulty for the scheduling of appointments. Lastly, the shortage can also lead to an increase in the affordability of healthcare. The inflation in prices would be brought on by the business law of supply and demand. A population that rises quicker than we are able to produce doctors making proper healthcare a commodity that may only be affordable to the more affluent members of
The purpose of this paper is to provide insights into the growing demand of health care professionals in United States of America; for this paper I will treat “Health Care Professionals” as it were a product and merely a manpower number to analyze the supply and demand of it. This paper identifies the changes in supply and demand that affected the equilibrium price for the services provided by Health Care Professionals, furthermore this paper anticipates the changes in the near future of the supply and demand of professionals within the Health Care field and the factors that would lead to these changes.
Clearly, The United States health care system is the largest industry in the United States and even the world. Currently, health care represents approximately 14% of the United States gross domestic product (GDP). Health care expenditures continue to grow; for instance, in 2001 the market grew to $1.5 trillion and the growth expectation is that health care cost will reach nearly $2 trillion dollars by 2007 (Torreblanca, Friend & Oasterom). Currently, the government leads the healthcare market so it is crucial and beneficial to healthcare patients to understand the United States health care systems. Medical care is a finite service for monetary compensation and changes in demand may occur because of the absence or presence of health insurance plans.
about their career if they truly are passionate about one. All doctors have something in common well the ones who are serious about their careers. That the reason they wanted to become one in the first place was to help out others. To help the sick not for a title or the money, but simple for that satisfaction of providing someone the help that they cannot give themselves.
I am interested in this career because I have always enjoyed learning about all things medical. I especially enjoy learning new medical terms. I also enjoy medical word building. Having the option to work from home as a medical transcription editor gives me the flexibility I need so I can still care for my young family and any other responsibilities. I knew this would be the perfect career path for me to follow. The most important goals I have is to enhance my knowledge and resources to grow as a professional. My career goals are to build my knowledge in the medical field, learn new things, and gain experience in the medical field. I have chosen this career because it suits my lifestyle as I have a family and can work from home and need to
Figure 1: Supply and Demand of Physicians. Reprinted from GME funding: How to fix the doctor shortage, 2014 Retrieved October 12, 2014, from https://www.aamc.org/advocacy/campaigns_and_coalitions/fixdocshortage. Copyright 2015 AAMC. Reprinted with permission.