Economic Terms and Health Care History
Jhameka Quarles
HCS/440
April 15, 2013
Kathleen Guluszka

Health care economics has progressed drastically since the early ages of time when health acre services were being offered to consumers. In the early age medical services was not as expensive as they are today in the modern era. Consumers did not have to pay expensive fees for medical services. Now and day to receive medical services on an affordable budget is a huge hassle for the community. Many go without medical care because they are not able to afford medical services to benefit their health. In the modern era health benefits are being sponsored by government agencies and insurance companies. The government covers services for many through insurance programs like Medicare and Medicaid, in which are funded by the government. In the early ages of time the government did not cover medical benefits for consumers because consumers were responsible for providing payment for medical services. Health care economics has evolved in the 20th century versus the limited care and expenses in the early age of time. Back then consumers funded their own medical expense while now there are insurance programs and government support to help the community afford medical services. Also advances in technology have helped to shape the new wave of medical services and expenses for consumers.
An “ideal system” existed many years ago in the early 1900’s. The system worked well because patients covered their own medical expense. Patients paid for medical services from health care professionals without the support of government funding. Consumers paid for expenses for care due to low expectations for care and the lack of knowledge form physicians concluded inexpensive fees for medical services. Back in the day medical services were offered at a cheap price due to the lack