...Running Header: Economic Terms & Health care History Paper Economic Terms & Health care History Paper Dina Mayo-Jones HCS/440/ Economics: The Financing of Health care Tina Rivenbark, B.S., M.H.A. August 1, 2011 The economics of health care has been experiencing transformations throughout the course of our country’s history. The catalyst in the world of health care economics is money, . In 2010, health care costs were roughly 17.68% of the country’s gross domestic product (GDP) with a projected growth to 19.8% by 2020 (Cummins, 2011). Spurs in higher utilization, advancements in medical care, and the ever increasing population are the major contributing factors influencing such a change. This paper will look at the birth and evolution of health insurance, while diving into the microeconomics and supply versus demand aspect of healthcare. History- The Birth of Health Insurance From the bartering of the early 1800s to the development of the health care reform bill, methodologies in the funding of health care services have been forever changing with an increasing price tag. In the early part of the 20th century, the country’s knowledge of medicine began to grown and with it so did the fees associated with this knowledge. Poverty drove the need for the development of a functioning health care economic system. Labor conditions and illnesses related to immigration created an environment in which individuals could no longer predict their impending...
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...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...
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...History of Health Care Reform Transcribed from a talk given by Karen S. Palmer MPH, MS in San Francisco at the spring, 1999 PNHP meeting) Late 1800’s to Medicare The campaign for some form of universal government-funded health care has stretched for nearly a century in the US On several occasions, advocates believed they were on the verge of success; yet each time they faced defeat. The evolution of these efforts and the reasons for their failure make for an intriguing lesson in American history, ideology, and character. Other developed countries have had some form of social insurance (that later evolved into national insurance) for nearly as long as the US has been trying to get it. Some European countries started with compulsory sickness insurance, one of the first systems, for workers beginning in Germany in 1883; other countries including Austria, Hungary, Norway, Britain, Russia, and the Netherlands followed all the way through 1912. Other European countries, including Sweden in 1891, Denmark in 1892, France in 1910, and Switzerland in 1912, subsidized the mutual benefit societies that workers formed among themselves. So for a very long time, other countries have had some form of universal health care or at least the beginnings of it. The primary reason for the emergence of these programs in Europe was income stabilization and protection against the wage loss of sickness rather than payment for medical expenses, which came later. Programs were not universal to start...
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...Health Care Economics History Health Care Economics History Over the course of U.S. history, the economics of healthcare have undergone several changes that have all culminated into what it is today. Although several factors come into play in regards to these changes, the primary driver behind these changes have been major advances in medical care techniques and advanced technology such as in the field of diagnostic imaging and surgical services. All these things aside, it is important to illuminate the fact that regardless of the time period, the payment for services and its source have always been a critical factor in how fast and how far healthcare can go. The source of payment for medical services has changed quite a bit over the past few decades. Today, third party payers such as insurance companies pay the bulk load of the healthcare bills leaving only a portion to be paid by the actual recipient from their own funds. In the not so distant past, patients were expected to foot the bills in their entirety for their own pockets. In those times, physicians were considered tradesmen. Their bills were no different than any other tradesmen such as a plumber or carpenter. When their work was done, the patient paid the bill. Frequently, if the patient was unable to pay in cash, physicians would accept non-monetary reimbursement for their services such as livestock or some other farm produced item. This "barter system" worked quite well but as the 20th century came about and...
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...Economic Terms and Health Care History HCS 440 December 19, 2011 Lori Geddes Economic Terms and Health Care History This summary will show the history and evolution of health care economics. The readers will also get a timeline of health care funding. Once you have read everything the summary shows you then you will have an insight to economical terms can help to understand the history and the timeline the terms are going to be: Economics, supply and demand, microeconomics, macroeconomics, elasticity, inelasticity, and gross domestic product. With these words this will show you about economics in the health care history. Once the American Medical Association (AMA) was founded healthcare was just getting off the ground with hospitals and doctors (American Medical Association, 2011). During this time doctors would see patients on a bartering system. The doctors at this time would make house calls and for the services they gave to the patients the patient at this time would give the doctor goods. The supply and demand at that time would be food, and anything that the people would not have. During this time they would pay with cooked meals, animals, things that they made, and their time such as working for the doctor however he wanted them to. During the time frame of 1901 to 1940’s healthcare and medicine took made great improvement. Medicine and hospitals became very important at this time. President Truman proposed a national health care plan, but it was shot out of...
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...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", 2012). The currents state of our economy is a prime example. Health economics seeks to identify...
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...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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...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...
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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 been responsive...
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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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...Terms and Health Care History Evelyn Olson January 28, 2013 Instructor: Eric Oestmann Throughout the years economics of health care has changed. With the election and the reelection of President Obama economics in health care has become an important issue again for the economist, health care professionals and managers. In the United States before the 1920’s doctors didn’t know much about diseases to provide people with much useful care and therefore charges for their services were very affordable. Many people before the 1900’s that received health care were treated for their illnesses at home. Payments were often made by the exchange system which most people offered doctors whatever they were able to afford at the time, often it would be a meal of some type, grain, cotton or livestock. As the United States advanced in historical factors such as WWI and WWII, the Great Depression, and technology a new system was used to assist the United States population in medical services. Today, those days are gone we are no longer a undersized group of individuals needing a small amount of medication that seemed to be in those days a cure for almost any type of sickness. The United States is a now a nation that consists of millions of numerous physicians, nurses, and many other health care professionals to choose from to provide care. Along with many access to healthcare services the United States has advanced in healthcare technology making available many levels of care. The advancement...
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...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...
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...Economic Terms and Health Care History Economic Terms and Health Care History Over the time of history, the economics of the United States has overcome many of transformations. Formerly, the economic alterations in health care may be due to the evolutionary changes in the United States. The main contributing causes for economic health care changes are the development of technology and how medical treatment is presented. The late 1800’s is when America started to realize the establishment of medical profession. The education practices for physician became official and preparations for hospital organizations started. By early 1900’s America became known as the biggest population to have many hospitals. On the other hand during this time the United States came across an economic failure that complicated a stock market crash; this occurrence is known today as the Great Depression. The results of this event had made it much harder for Americans to compensate for their medical care ("Humana", 2014). Before the year of 1920, many of doctors did not know a lot about illnesses to really arrange for much valuable care towards those individuals that are sick and thus there were no charges as far as for the services ("Humana", 2014). Many of fewer large employers had opened health insurance rather to the smaller businesses that did not provide insurance; everybody else had to pay from out of their own pockets many of which they did not have. Most patients had been treated...
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...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", 2012)...
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...University of Phoenix Material Week Two Health Care Financial Terms Worksheet Understanding health care financial terms is a prerequisite for both academic and professional success. This assignment is intended to ensure you understand some of the basic terms used in this course. Complete the worksheet below according to the following guidelines: In the space provided, write each term’s definition as used in health care management. You must define the term in your own words. In the space provided after each term’s definition, summarize a health care management scenario that illustrates the importance of the skill, concept, procedure, or tool to which the term refers. In the scenario, you may wish to consider the following: o Why the skill, concept, procedure, or tool is necessary for accurate record keeping, operational efficiency, excellent patient services, employee management, regulatory compliance, reducing costs, forecasting, and so forth o Successes enabled by an adequate understanding or appropriate application of the skill, concept, procedure, or tool o Risks or failures associated with an inadequate understanding or inappropriate application of the skill, concept, procedure, or tool Save the completed worksheet as a Microsoft® Word document with your name in the file name. Submit the file to your instructor. Worksheet Submitted By: [Earlene Patton.] |Term |Definition ...
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