...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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...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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...History and Evolution of Health Care Angeline Anderson Economics: The Financing 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...
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...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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...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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...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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...types of questions are in relation to healthcare economics. The meaning of health economics is the science that deals with the production, distribution, and consumption of good and services, or material welfare in healthcare. Because healthcare is always evolving there are some factors that have to do with the change, and those are types of medical care and technological developments in the industry. An example in the change in medical care is the quality. Now a day, people can be treated for any type of disease and as long as their insurance covers the specific service then they have a higher chance of being cured. In addition machines we have in clinics and hospitals also increase also affect health economics because most organizations always want to have the latest technology so their quality of healthcare maintains at a high level, however having this also increases their expenses. This paper will further on discuss evaluating the history of healthcare economics and its evolution along with how cash flows within the economic system Health care insurance is something that healthcare economics is based off of. Before when health care was as big issue and an actual business, people would use their own personal money to pay for treatments, services and other healthcare operations. Now a day, insurances pick up the bulk of the services and the consumer pays a copay or co-insurance, this is why cash flow in health care evolves around insurance. The flow of funds is a...
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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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...Economic Terms and Healthcare History July 1, 2013 By: Kelsey Breeden Economics within health care has changed drastically throughout the years. With the election and now reelection of President Obama, health care economics has become very important to not only providers, but managers and even the clients. In order to better understand the economics of health care, one needs to understand the history and evolution of health care. The purpose of this paper is to explore the history and evolution of health care throughout the United States history. Starting with the 1800’s, most people had their medical care and assistance come to their home. There were very little healthcare providers, as well as medicines and treatment. People during that time period were able to just deal with being sick instead of going to the doctors and to see all kinds of specialists. These types of options were not available, and if they were to seek medical attention it was very pricey. Healthcare insurance was not offered so all payments had to be paid out of pocket, and in full. As the 1800’s progressed, there became a formation of the medical field and medical professions. Now although there was a healthcare industry on the rise, people were still not sure of the money aspect of healthcare. When the 1900’s came about, healthcare continued to expand, with the expansion came the want and need for hospitals. Hospitals became very important to everyone and access continued to...
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...------------------------------------------------- Economic terms and health care history Woody Johnson HCS/440 June 12, 2013 During history, health care economics has changed considerably. The main reason that stimulus change in health care economic are technology and medical care, however a lot has to do with evolutionary changes that the U.S. endured from the beginning. It is very essential to comprehend health care cash flow system and economic history. Administrators use this data to help organize the future of the corporation. In this paper, I plan to use the terms to elaborate on the history and evolution of health care economics and the timeline of finance. Before the year of 1990, there was not a significant health care in America. American medical association was just starting, individual were using home remedy to treat illnesses, physician was making house call and trade service for good, clinic were just getting started, and there were no such thing as health insurance. However, among the age of 1901 and 1940 health care and treatment made some significant change. Clinic became more necessary Antibiotics were found, improvements were made in cleanliness, and individuals came up with ideas for employment benefit. Also, individuals came up with ideas for health insurance. In the year of 1960 social security has been carried out, Medicare & Medicaid contracted into law, and Health Insurance Company were coming up all over (PBS, 1960). In the year of 1970, HMO came in effect, and the cost of health care...
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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 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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...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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... | | |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...
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