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Healthcare Economics and Timeline

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Submitted By morganmanzini04
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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 to help pay for the maintenance and construction of public health centers. The agreement was that all patients, no matter race, religion or discrimination, were to be allowed in. Health and Human Services is established during 1950 by President Eisenhower. Internal Revenue Act is also signed during this time which allowed tax exclusions for employer-provided benefits which included

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