Health Organizations
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Economic Terms and Health Care History
Christina Mahner
HCS/440 - ECONOMICS: THE FINANCING OF HEALTH CARE
Humberto Munoz
June 6, 2011
In the health care field the economics is rapidly changing over the course of the history in the United States. The major contributing factor of the changes to health care economics is due to advances in technology and medical care even though some of the changes are because of evolutionary reasons. Many things within a health care system change including the payment ways, organizational policies and procedures, management structures and most important the rules and regulations the state wants the facility. The changes are often referred to as Managed Care because the concern is driven by a cost of the health care but in the end it affects many other areas. It is important to remember the driving force behind health care economics is money, which plays a major part in whether or not the facility is successful or not. In order for the facility to functions optimally the facility needs to understand the structural and economic history of health care. By understanding the history of health care economics financial managers are able to be more prepared for future changes.
Economics refers to the science that deals with the production, consumption and distribution of services or goods given to a person. Economics in the health care field could refer to every area of the facility. When looking at the economics of a facility one must look at supply and demand to determine the price of services rendered. The facility needs to look at how much the supplies cost and what the demand is to decide what to charge individuals for the services. The facility needs to also look at the relationship between the price and cost of supplies to make sure the proper payments are received, this is known as Microeconomics. On the other hand, Macroeconomics will look at the relationship between the income and the investments as a whole. As...
Christina Mahner
HCS/440 - ECONOMICS: THE FINANCING OF HEALTH CARE
Humberto Munoz
June 6, 2011
In the health care field the economics is rapidly changing over the course of the history in the United States. The major contributing factor of the changes to health care economics is due to advances in technology and medical care even though some of the changes are because of evolutionary reasons. Many things within a health care system change including the payment ways, organizational policies and procedures, management structures and most important the rules and regulations the state wants the facility. The changes are often referred to as Managed Care because the concern is driven by a cost of the health care but in the end it affects many other areas. It is important to remember the driving force behind health care economics is money, which plays a major part in whether or not the facility is successful or not. In order for the facility to functions optimally the facility needs to understand the structural and economic history of health care. By understanding the history of health care economics financial managers are able to be more prepared for future changes.
Economics refers to the science that deals with the production, consumption and distribution of services or goods given to a person. Economics in the health care field could refer to every area of the facility. When looking at the economics of a facility one must look at supply and demand to determine the price of services rendered. The facility needs to look at how much the supplies cost and what the demand is to decide what to charge individuals for the services. The facility needs to also look at the relationship between the price and cost of supplies to make sure the proper payments are received, this is known as Microeconomics. On the other hand, Macroeconomics will look at the relationship between the income and the investments as a whole. As...