...Economic History and Health Care Funding Christina Bacon HCS 440 Economics: The Financing of Healthcare BSCS13JR00 University of Phoenix Online Geoffrey J. Suszkowski, Ph.D., LFHIMSS June 5, 2012 Economic History and Health Care Funding When writing this paper, the subjects covered will be the history of economics and how the economy and health care funding have changed and how the two go hand in hand in today’s society. Where the money will come from to fund health care services such as; Medicaid/Medicare, HMO’s, how hospitals and nursing homes get paid for taking care of people, going to the doctor’s office, or going to the hospital. How the elderly pay to have home health services come in and provide care in their homes. All these things will be covered in this paper. Economic History and Health Care Funding What is economic history and health care funding? Economic history is the way people dealt with supply and demand, cost of production of a product, the levels of income and distribution of wealth, the structure of overseas trade, and the volume and direction of investment, (Adelman, 1985). Health care funding, is the way people would pay for their health care, because in the early years, there was no Medicaid/Medicare, or HMO’s to help pay for health care. The government did not fund health care then like health care is funded now, through government programs such as Medicaid/Medicare, HMO, health insurance, etc. People paid for health care by paying...
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...Communications Paper HSC/490 November 21, 2011 Professor Green Communications Paper When trying to inform employees and the public about what is going on in the health care organizations, many forms can be used to express this information. Information is passed down from management to employees; it is good to take notice and stress to every employee that they play a vital role in how the organization is viewed. Within any health care organization, the employees are essential components when it comes to saving the company money and making it more productive. Management needs to communicate properly and effectively to employees about the organization’s strategy and what is needed to achieve those plans. By stressing the organization’s strategy, the long-term and short-term goals will not seem so hard to achieve. In this paper, I plan to discuss the different methods that are used in electronica medical records, one of the ways that is used in communication modal is to keep track of all the patients’ medical records, and Health care workers see this as the biggest way of communication when working as a health care giver. Electronic records have been the talk of the century, although for ages charts where the thing but, have slowly been phased out by EMR systems. When you think about this, it opens up doors for much greater technology that could not be implemented into hospitals and doctors’ offices without the productions of EM’s. EMR’s makes the medical staff daily...
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...Economic Terms and Health Care History Amber Rainwater HCS/440 Economics: The History of Health Care February 26, 2012 Health Care History 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 has always been a challenge and will continue to be a barrier due to the lack of resources within our nation. The primary source for funding medical services has faced many changes throughout U.S. history. The need to utilize medical services has increased, which led to the implementation of health care insurance. This came into effect due to the growing demand for health care services at a lower outer pocket expense. The challenge of funding medical services has always been a struggle. It was President Harry Truman that first approach Congress to enact a national insurance program back in 1945 After many failed attempts, President Johnson finally signed into law the Medicare and Medicaid program on July 30, 1965. Medicare is a government...
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...Economic Terms & Healthcare History Economic Terms & Healthcare History This paper will entail the history as well as the development of healthcare economics, and health care funding. The significance and how it affects the world today. I will address how the history and development of health care economics and the timeline of health care funding has changed over the past years in the United States. What is the Meaning of Evolution of Health Care Economics? Development of health care economics, it is a changing system within the United States. It has become multifaceted and in the past two decades, the upheaval in health care in is largely in lieu of rising health care cost. It is a discipline that deals with the conception, distribution, and all intakes of goods and services. Over the past years, it has dealt with pricing of products and the structure of the economy, as the price-cost relationship of a whole medical firm. It relates to an uncaring conversion, when a demand fails to increase or decrease in percentage to a decrease or increase in price. The adjustment involves the total health care market price of all the goods and services created within the form of a country during an identified time ("Gross domestic Product, " 2014). However, the evolution of health care economics deals with a broad and general aspect of an economy income and investments of the United States as a whole. The history and development of health care economics have...
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...Economics Terms and Health Care History Joshua A. Barron HCS/440 May 08, 2012 Larry Gonzales Economics Terms and Heath Care History To understand how Americans came into being with the current health care system in place today, it would behoove society to look where it began, where health care economics had its genesis, and how it evolved into the monster it is today. “The United States spends more on health care, both per capita and as a share of Gross Domestic Product (GDP), than any other country in the world. In 2009, spending on health care reached a record high $2.5 trillion, or 17.6 percent of U.S. GDP” (Center for U.S. Health System Reform, 2011, p. 1, Para 2). The health care industry is the dominating industry in the United States and it is currently controlling and dictating the lives of Americans across the nation. Many workers are weighing the facts of switching jobs because they may have to switch health care coverage, and with the high cost of health insurance many people are left out or cannot afford it. Patients complain about the care they receive and are eager to award their physician with a lawsuit. This paper will discuss the history and evolution of health care economics and the timeline of health care funding. History of Health Care Economics “Who will pay for the dramatic changes to health care. In the past it has been our experience, for most individuals to pay their medical bills with private funding...
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...July 2, 2013 2013 HCS 440 - Economics Aletha Ilene Lane Geoffrey Suszkowski Economic History and Health Care Funding July 2, 2013 2013 HCS 440 - Economics Aletha Ilene Lane Geoffrey Suszkowski Economic History and Health Care Funding This will address the history of health care funding. It will talk about the history and evolution of health care. It will also address a timeline of events for funding health care. Health care has change a lot since the 60s. Back in those days, people had to travel long distance to find health care and some died along the way. In today’s time, people are having a hard to paying for health care due to the change in technology. In the past, people had to pay for health care service with private funding. Today, people have private insurance to help pay for health care service. Physicians use to accept cotton, gain and livestock for medical service when people could not afford to pay. The government had to come up with ways to help people with medical services. By the 1960s, private health insurance was established. In 1958, most of the people had some form of coverage. During Eisenhower administrations of 1952-1960, there was no proposal for government sponsored health insurance. “They realized that the only way to enact government-sponsored health would be to do so incrementally and focus on the elderly” (Marmor 2000). After John F. Kennedy was elected the political was more favorable toward health insurance. The federal program...
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...Healthcare History Health Care History The United States health care system is currently getting ready to evolve tremendously through the organization, management structure, and payment structures. The economic component in health care is very important to understand in order to structure it successfully. This papers discusses the evolution of economics in the health care system and the structure of health care funding timeline. History and Evolution Health care economics presents an information framework were efficiency and equity goals are pursued. Furthermore, economics establishes a framework by maximizing benefits using resources at hand. Kenneth Arrow, the person responsible for mentioning the idea of health economics as a discipline, wrote an article titled “Uncertainty and the Welfare Economies of Medical Care” in 1963. The article discusses how the medical care industry benefits society compared to the “norm”. Furthermore, Mr. Arrow wrote about the significance of supply and demand. Arrow discussed that the average person has the characteristic of only seeking medical care when they are suffering from a critical injury or illness. Its not common for the average person to receive routine medical services on a regular basis. As Mr. Arrows discussed supply condition, he quoted “Entry to the health care profession is controlled by licensing. Licensing manages the supply which consequently increases the cost of medical care”. Medical care was...
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...paper I will discuss the history and evolution of healthcare economics and the timing of healthcare funding. In the 21st Century healthcare is proven to be one the largest industries that generates a great deal of money in the world. Therehas been a dramtic change in healthcre the last last hundred years. As changes and progression are examined, it becomes clear that healthcare along with the economy has created an important part of the American life. Healthcare History Health care economics presents information where efficiency and equity goals are pursued. Furthermore, economics establishes a framework by maximizing benefits using resources at hand. Kenneth Arrow, the person responsible for mentioning the idea of health economics as a discipline, wrote an article titled “Uncertainty and the Welfare Economies of Medical Care” in 1963. The article discusses how the medical care industry benefits society compared to the “norm”. Furthermore, Mr. Arrow wrote about the significance of supply and demand. Arrow discussed that the average person has the characteristic of only seeking medical care when they are suffering from a critical injury or illness. Its not common for the average person to receive routine medical services on a regular basis. As Mr. Arrows discussed supply condition, he quoted “Entry to the health care profession is controlled by licensing. Licensing manages the supply which consequently increases the cost of medical care”. Medical care was expensive in the...
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...Health systems in most countries have experienced instabilities over the past two decades, mainly to the reaction of the growing costs in healthcare. Whereas these ups and downs has really occurred dramatic (and even traumatic) in the United States. The American health care system has not only endured extreme changes within two generations but also continues to evolve. In a single generation, healthcare has evolved from being an essentially unorganized group of exchanges between individual clients and individual physicians, to a highly organized system linking many corporate organizations. Economics in healthcare delivery is a very useful lens to help support such understanding. “Economics is the science that deals with the production, distribution and consumption of goods and services” (Apollo Group Inc. 2010.) It uses a reasoned structure that identifies players within the system (individual and organizational), taking responsibility to some degree of judiciousness, and ascribes to the requirements that are pursue to satisfy healthcare economics. One must wonder what economic history and health care funding is. Well economic history is the way people with supply and demand which is how the price of a commodity or commodities are determined; the cost of the production of a product that is being made, wealth and the level of income, and the structure and operation of overseas trade. Some would believe that Health care funding is how most people can afford health care, seeing...
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...Economic Terms and Health Care History LaTasha Frost HCS/440 February 25, 2014 Instructor Name William Byrd Jr. Economic Terms and Health Care History Before the 1900’s healthcare had a different perception, now in the twenty-first century healthcare is an everyday thing to Americans. Economics is the science that contracts with the distribution, the material welfare of humankind, production, or the ad consumption of goods and services. Even though there are many different reasons why healthcare economics have changed over the years, the most effective reason is health care finance and the supply and demand of care. This paper will discuss the evolution of health care economics, the history and timeline of health care funding. [pic] Doctors had more power and were paid better than before in the early part of the twentieth century. Associations, for example American Hospital Association (AHA) and American Medical Association (AMA), started in the late 1800s, developed sturdier. Work unions then employers began offering a variety of aids to workforces, with funded health care. National health insurance became connected with collectivism and the idea became disliked in the United States, which opened entries to protect the increasing costs of medicinal care for secretive health insurance. Blue Cross was recognized at the end of 1920s and it was the first large medical insurance company established back then. The 1930s saw an increasing number of health...
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... | | |College of Natural Sciences | | |HCS/440 Version 5 | | |Economics: The Financing of Health Care | Copyright © 2010, 2007, 2005, 2004, 2002, 2000 by University of Phoenix. All rights reserved. Course Description This course provides an overview of the economics of health care. The various payers are examined, including private, state, and federal entities. Issues such as the cost effectiveness of prevention, the management of patients and their diseases, as well as the cost of treatment settings are discussed. Third party reimbursement from various sources, ranging from for-profit insurance carriers to charitable donations, are reviewed. The health care system's use of grant funding and research dollars is described. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change...
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...This paper will explain how the past health care has change and the dynamics behind the changes in the health care industry today. Also in this paper the importance of financing and technology in the health care. The discussion of the complexities that is associated with changing demographics and emergent diseases, and the fluctuating and daunting challenges that management mortality trends that the Baby Boomers generation predicate. Summarize the key milestones involved in the past and present shaping and transitional dynamics behind changes in the present healthcare industry. 1850-1900 was a time were the environment condition such as water sewage disposal, contaminated food, inadequate housing were the cause of illness of infectious disease in the United States. People had to rely on home remedies, or woman who took care of the ill and no medical care was available. Doctors had little training in the scientific technology field and hospital was dirty run down which bought about a threat to life because of the diseases. Public health problems came about with such epidemics of acute infectious diseases. Before World War II military families and officers could get free of charge medical care. The federal government was not involved, they left it up to the states and the states had little to do with it. They left it up to private and programs that were voluntary. By 1930s hospitals were giving services to individuals on a pre-paid basis which, allowed for members to...
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...August 22, 2011 Economic Terms and Health Care History Health care economics have undergone severe changes over the path of history in the United States. Some say these changes are due to evolutionary changes. Others say it’s due to development in know-how and medical care. I say it would be most helpful if the history and growth of healthcare economics were studied. One should also research the timeline of health care funding. One should also keep in mind what the basic motivating strength is in health care economics which is money. It may seem as though money should not be as important as people’s health and well being. But, when you stop and think about it, money is what keeps scientists able to continue to discover technology to aid people in receiving optimal medical care. “Who pays for what has changed dramatically in the past 60 years. Whereas in the past, the majority of individuals paid their medical bills with private funds, today insurance companies and other third parties cover the majority of payments, with individuals paying only a small fraction of the total flow of funds with private money” (Getzen & Moore, 2007, p. 3, para. 1). According to Investpedia, flow of funds is “A set of accounts that is used to follow the flow of money within various sectors of an economy.” When compared to the statement above, the initial flow of funds has altered drastically over the past years. Many of us know the history of physicians trading their services for...
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...History and Evolution of Health Care Economics Kimberly Geeter HCS/440 March 28, 2011 Pranab Rout History and Evolution of Health Care Economics Health care economics have changed so much during the course of history. While a lot has to do with the evolutionary changes that the U.S. underwent since inception, the major factors that have influenced change in healthcare economic are medical care and technology. It is important to understand healthcare economic history, and the cash flow system, managers are able to use this information to help prepare the company for its future. It is very important to remember that the drive behind health care economics is money, money helps run health care organization and it’s the key to success “Who pays for what has changed dramatically in the past 60 years. Whereas in the past, the majority of individuals paid their medical bills with private funds, today insurance companies and other third parties cover the majority of payments, with individuals paying only a small fraction of the total flow of funds with private money” (Getzen & Moore, 2007, p. 3, para. 1). History shows that physicians would trade medical services for non-money items (such as cotton, grain, and livestock) as forms of payment if a patient was unable or couldn’t afford the services. As the US advanced in historical factors such as the World Wars, the Great Depression, and technology, a new system had to be used to help the U.S. population with...
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...to describe the history and evolution of health care economics and the timeline of health care funding. I will be goining back to the 1900s though the current day. And I will explain what historic events have shaped our current health care economy. During the early 1900s healthcare was focused on finding a cure on infectious disease and poor hygiene. Then there are the diseases caused by poor nutrition, there is the case of poor infant and maternal care. And being able to deal with all these diseases, with sub-par medical equipment. The early 1900s was a learning decade to really find out what actually works on certain diseases. By the mid 1900s healthcare made huge leaps and bounds. Starting with high tech equipment, to utilize for treatment. Better and stronger medication. And better trained doctors and staff to be able to deal with and major on minor medical emergency. In 1946 the public schools created a school health initiative to keep a healthier school environment. By trying to lower the amount of disease in children, by giving all children proper vaccinations. And also by giving kids health foods to avoid a high obesity rate among children. This is where a greater amount of funding was issued by the government to help bring healthcare to the top. The government had started to realize by the mid 1950s the importance of health care on the future of the world. We all must stay healthy and disease free to prosper, so this is when funding was set aside for...
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