...Jennifer Elliott hcs/440 07/21/2014 Health care history Jennifer Elliott hcs/440 07/21/2014 Health care history Before the 1900s, there really wasn't what you could call major health care in this country. The American Medical Association also known as the AMA was just finally taking off the ground, hospitals were just getting established, doctors still made house calls and traded their services for goods, and people still used a lot of home remedies to treat their ailments. Health insurance was unheard of, but between 1901 and the 1940's medicine and health care made some major jumps and went far. Hospitals became more and more important, advances were made in antiseptics and cleanliness, antibiotics were discovered, and several people were coming up with ideas for health insurance and employer medical benefits. President Truman proposed a national health care plan, but it was shot out of the water by both the American Medical Association and Congress. By the 1960's, though, we started to see health insurance companies popping up all over, Social Security had been implemented, and Medicare and Medicaid had been signed into law. HMO's came into existence in the 1970's and health care costs began to climb radically, eventually spiraling out of control! Over the past fifty years, we've seen health care costs continue to rise to the point that some low-income families and the elderly are unable to get medical treatment. Decentralization of the hospital care system has...
Words: 517 - Pages: 3
...Economic Issues Simulation HCS/440 July 9, 2014 Jonathan Foskett Economic Issues Simulation Constructlt is a company, which currently employs 1,000 individuals, 550 men and 450 women in the age group of 26-42. Approximately 60% of the group is married. The group is willing to pay up to $4,000 dollars per individual for their annual premium. Castor Collins must weigh the many considerations when deciding to insure Constructlt, the premiums employees are willing to pay, risks of providing a certain plan or service, and the expected utilization (University of Phoenix, 2014). In order to maintain a profit Castor Collins needs to take all of these aspects into consideration. Thirty-two percent of the individuals at Constructlt have a working profile, which involves significant physical activity, and only 25% have a working profile with moderate activity. When determining which insurance plan is best for Constructlt it is best to look at the health risk factors of the group. Thirty-eight percent of the group, which breaks down to 170 men and 210 women, has no major health risks. Conversely, 18% of the workers, 10% men and 8% of the women are smokers. The principal health risk factor affecting the group is obesity. Of the Constructlt group obesity affects 39% of the group. Hence, increasing the risk for obesity related diseases like high blood pressure, heart disease, and diabetes. Due to the health risk factors utilization will increase with...
Words: 1073 - Pages: 5
...of Health Care HCS/440 November 22, 2011 Humberto Munoz History and Evolution of Healthcare http://www.stfm.org/fmhub/fm2004/january/malcolms20.pdf While some can contribute these changes due to the evolutionary changes the US has undergone since her inception, the major contributing factors that influence the changes in health care economics are advances in technology and medical care. By understanding the history of health care economics, and identify the flow of funds system, financial managers are able to be more adequately prepared for the future. It is essential to remember that the driving force behind health care economics is money, and it plays an integral part to the success of the health care industry. “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). The flow of funds is a system in which financial managers are able to “follow” the money through the health care system, and as stated above the initial flow of funds have drastically changed from past years. History shows that many physicians would trade services for non-money items (such as grain, cotton, livestock, etc.) as forms of payment if the individual was unable to use...
Words: 354 - Pages: 2
...This paperwork contains HCS 440 Week 4 Individual - Economic Issues Simulation Paper General Questions - General General Questions Review the Health Care Economics Issues HMO Simulation exercise posted on your student web page. Follow the Wk 4 WEB LINK “Understanding Economic Issues for HMO’s”. This exercise is for your learning experience only. Do not post any screen short from the exercise as part of your assignment. Economic Issues Simulation Paper Prepare a 1,050- to ,1400 paper in which you present a profile of each company including the demographics of the employees, the health care risk factors (potential areas of high utilization), and the premiums the company is willing to pay. Apply each plan, Castor Standard and Castor Enhanced to each company, Constructit and E-editor, to determine which plan best meets the healthcare needs of the employees – ignore Dearden. As a representative of Castor insurance, your job is to maximize profit and minimize risk for the company. Based on your analysis of potential utilization, give at least two reasons why each plan could be selected for each company. Then select one of the two companies and state which plan you would select to sell to that company? What are the reasons for this decision? Why did you not select the other plan offered? Your paper should be organized so that each question serves as a subheading followed by the discussion, i.e. Two Reasons Why Each Plan Could Be Selected, Which...
Words: 374 - Pages: 2
...How might a lifestyle choice affect the demand for health care services? The health status of every individual is relative to environmental and heredity factors. In general, the average individual doesn’t have control over their genetic makeup; however, there behavioral lifestyle is and it influences their overall quality of life. Environmental factors are things that an individual can always alter to improve their health. For example, changes in their diet, physical maintenance, and stress. The decisions from the initial case deal with treatment; further along there is areas of discipline, education, responsibility, and adopted healthy lifestyles. With this in mind, the wrong decision will equally influence health care supply and demand significantly. For example, the increasing rate of diabetes in the country is a result of either decision. Type 1 diabetes is a hereditary form of the virus caused from the digestive system not processing insulin. However, type 2 diabetes is caused by environment influences which cause the pancreas to insufficiently produce insulin. Type 2 diabetes is usually caused by obesity. In fact, I researched this information before for a previous class and its been proven that 95% of all diabetes infected individuals have type 2 diabetes. The overall number of individuals with diabetes make up 30% of the U.S. population. The number of individuals with the disease began to spike in the mid 1990’s and the demographic equally expands from young children...
Words: 1850 - Pages: 8
...The History of Healthcare Economics Stephanie Creech HCS/440 December 12, 2011 Bert Munoz The History of Healthcare Economics When healthcare first began just about anyone could practice medicine, and it stayed this way in the United States until 1806 when the first licensing laws were passed in New York (Wellness Directory of Minnesota, 2003). Since then healthcare has evolved; changes in technology, organization, and payment structures just to name a few are constant. Keeping up with them, and understanding how they affect healthcare economics can be challenging to say the least. Although, there are many factors that contributed to these changes perhaps the biggest factor was the technological advances and changes in the quality of medical care. To be able to prosper now, and plan the future one must study the past. Healthcare mangers must fully understand the history and flow of funds in healthcare economics to be effective in their positions. Although, it seems obvious it is important to remember that the driving force behind any organization including healthcare is money. Money is vital because without it the organization would have to close. “Formalized medicine in America began in the 1800’s and continued until the 1930’s. This helped to establish the medical profession through both expanded duties and formal education” (Wasley, 2011para4). When doctors or physicians first began some would barter with their less fortunate patients to ensure payment...
Words: 703 - Pages: 3
...Healthcare Spending Heather Satterfield HCS/440 July 19, 2012 Osama Metry Healthcare Spending Healthcare spending involves researching trends of expenditures at a national level as well as researching the effects of the economy. It is important to take into account what best benefits the healthcare system. It is important to discuss how healthcare needs are financed and the immediate attention needed for the future of healthcare. In the current economy the cost of healthcare has risen and wages have decreased. In order for an employer to provide insurance for employees it is necessary for premiums to go up because the insurance companies have doubled the cost for the employer. Over the last ten years the percentage of one’s income that is paid for insurance rose from 12 percent to 22 percent. The reason for this rise is due to private payers’ compensation rising from 5.4 percent to 7.3 percent. This caused the employees’ salaries to go down. Due to this, small business were on a fast pace to going under. In order for the small businesses to stay above water it was necessary to cut insurance coverage from 65 percent to 59 percent. The Affordable Care Act was developed for relief on the premiums. In addition it protected Americans that were uninsured or had preexisting conditions. It was once thought to be impossible to receive healthcare benefits if one had a preexisting condition. In the year of 2014 it is thought that insurance costs will decrease....
Words: 935 - Pages: 4
...Health Care Economics and Timeline By: Morgan Pence HCS/440 Jonathan Foskett Due: May 9, 2016 Economics is described as the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind. The timeline of healthcare is very important because it helps to show what has happened and why the country is where it is today with the healthcare industry. It changes all the time so the timeline will always be changing and it is important to keep up to date with what is going on. This paper will help to show how the country has come to where it is today. Before the 1900’s there was not really anything that could be called major health care in the country. Doctors were still making house calls, people would use supply and demand to be able to get treatment, home remedies were being used a lot and The American Medical Association (AMA) was just getting off the ground, and hospitals were just being established. At this point in time health insurance was unheard of. During the 1900’s Teddy Roosevelt became president was the first to introduce the idea of health insurance and called or all Americans to have universal healthcare. During the Great Depression the Social Security Act was signed which provided states with the funds to build health departments and it established benefits the elderly. During the 1940 President Truman signs the Hospital Survey and Construction Act which allowed the states to access Federal grants...
Words: 711 - Pages: 3
...Economic Terms and Health Care History Shonda Menezes HCS/440 John Gaze January 16, 2011 Economic Terms and Health Care History Health care economics has gone through many changes over the years. With all of the changes health care organizations have had to adjust their financial strategies as well as their organizational strategies. The economy has had a lot to do with all of these changes. Healthcare organizations have so many demands put on them. Some of the changes that have occurred are due to the advances in medicine such as diagnostic, procedures and pharmaceutical. Insurance Payments over the years have changed. It used to be that you had health insurance and your bills would get paid over the years the payment system has changed and more and more is coming from the patient’s pocket. In this paper the focus will be these key terms supply and demand, microeconomics, microeconomics and elasticity. The issue is not how to fill or reuse empty beds. In this changing environment, hospitals and health systems must focus on streamlining and simplifying operational processes, facilitating case management, promoting the least costly setting for care delivery, and optimizing resource sharing among departments. When hospitals have addressed these issues, then solutions to the “bed problem” will be obvious.Cynthia Hayward, 1996(Marcinko, 2007). Division of economics focused on evaluating scarcity in health care systems in different economies. ("Health Economics"...
Words: 783 - Pages: 4
...Economic Terms and Health Care History HCS/440 March 03, 2013 Michele Burka Economic Terms and Health Care History Over the years healthcare economics have changed tremendously. These changes have everything to do with the evolutionary changes that have occurred in the United States which have influenced this dramatic change in the economics medical technology. The main key that moves all things or drives that are through health care economics is the money and money helps keeps an organization established and is the key to success. The cash flow system is something that the organization uses to help run the business and make decisions for the future and learning the health care economics are important. “Economics is the science that deals with the production, distribution, and consumption of goods and services or the material welfare of human kind.” We can’t use the ways of approach to health care services as we have done before with the depression or World Wars. The United States technology had to change because of the supply and demand and a new system have to be continuously be made to help United States population. A long time ago the person that needed services paid for their services that was needed with private funds, now today we have insurance companies assisting us with the cost, also third parties that cover the majority of payments, then if need be we pay a small portion with the private money. Who do you think is paying for this upcoming change that continues...
Words: 800 - Pages: 4
...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...
Words: 860 - Pages: 4
...Economic Terms and Health Care History Courtney Kuhns HCS/440 November 19, 2012 Khaki Weber The history and evolution of health care economics is as changing over the course of time as is our country itself. These changes can be contributed to the evolutionary growth in the United States since the beginning but it is also because of the continuing advances in health care and technology. It is important to understand the history of health care economics and identify the flow of funds system to move forward in health care with better service and change things for the future. As with any business, health care is moved forward and changed with money as the driving force to make profits and sustain business. The health care industry has to find a way to thrive and also make sure people are getting proper and needed care to continue moving forward while keeping the nation healthy. Getzen & Allen (2007) state “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. Just as the source of funds has changed, so has the use of those funds. Increasing intensity in the quality of medical services has resulted in increases in medical spending that surpass increases in inflation, wages, and even the use of health care services”. History shows that back in the 1800s to...
Words: 940 - Pages: 4
...Economic History and Health Care Funding Monica Williams HCS/440 July 1, 2013 GEOFFREY SUSZKOWSKI Economic History and Health Care Funding The paper that is being written is covering the history of economics and how the economy and health care funding has changed. The paper will reveal how the two compare in today’s society. It will evaluate the money used to fund certain health care services such as Medicaid/ Medicare, HMO’s, and how places like hospitals and nursing homes receive compensation for taking care of patients. The paper will also go into detail of how elderly pay to have certain services such as home health services provide care in their place of residence. 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 that the cost of receiving it is very high. With that being said, the government did not fund health care like they do now. There were no health care programs like the ones that are available today. Back in the old days people would be able to afford health care only if they could pay their doctor in food or whatever little money...
Words: 819 - Pages: 4
...Rural Health Care By: Lurhonda Maxwell, Amanda Hacko, Laura Bottom, Patricia Delaughter, Tamara Boyd and Ta Rhonda Thomas HCS/440 Professor: Chuck Sigmund Due: September 12, 2011 Individuals and families of rural populations are confronted and struggling with the same challenges and care issues as everyone else in the nation-such as large numbers of uninsured and underinsured, high rising health care costs, and overextended health care infrastructure. Jon Bailey states that, “there are numerous unique health care issues facing rural people and rural places. Despite an array of health care differentials between urban and rural people, there is evidence that the ultimate health status of rural people has much to do with health insurance coverage and the type of health insurance coverage”. Evidence show people in rural areas with health insurance provided by there employers get more or less costly health care provided services then those who have purchased health insurance privately. Insurance that was purchased at lower cost resulted in health care services that were presumably regular and better. As discussed, people in rural areas lack coverage. People in rural areas are being denied coverage and have higher premiums because of their existing...
Words: 718 - Pages: 3
...Solutions to Prescription Drug Crisis HCS/440 Solutions to Prescription Drug Crisis Solution to Prescription Drug Crisis Health care classifies as the third most important thing on the mind of registered votes. The U. S. health care system is a mess. Health care costs are surpassing the wages and of most Americans. Millions of Americans do not have insurance. Most of the others are under insured. We have a superior health care system even though our health care system spending is not buying us superior health. The increasing cost also does not insure better health care. Our health care system are is forcing millions of Americans into a lifetime of debt and financial worries. Throughout the years many plans have been presented to Americans as a solution to this economic issue. The most recent and possibly most controversial was the plan submitted by our current president. President Barack Obama and Vice President John McCain presented a plan to reform health care in order to provide Americans affordable health care. This plan stresses prevention, while not only controlling costs, but maintaining individuals' choice of doctors and plans. Obama's health care plan is expected to create an agency to regulate the private insurance market. The consumers will choose to buy private insurance through the agency or the federal government. This plan will force providers to provide coverage to people with existing conditions. Obama care will also expect certain businesses to provide...
Words: 725 - Pages: 3
