...treatments, which increased cost. Therefore, as the cost went up, the public needed a way to pay for the treatments; this was the start of health insurance. Health insurance and healthcare came about during the time of the Great Depression. There are currently two main methods of providing healthcare: public and private. Public healthcare provides universal access and is funded through the government. Two forms of public healthcare are Medicare and Medicaid which President Johnson signed into law in 1965. Medicare, or public healthcare, was first enacted by the U.S. government to provide healthcare to the elderly. Medicaid provides insurance to anyone who has a disability or is in poverty. Private insurers are funded by premiums and cover clients while also making a profit. The first private insurer was the Baylor Hospital in the 1930s, which later became Blue Cross Blue Shield Health Insurance. The purpose of this report is to determine whether private healthcare coverage, as it currently exists in the United States, is more or less effective than a single payer system according to three criteria: cost, availability, and quality. Method: The Commonwealth Fund supports research on healthcare issues and helps to improve healthcare policies. It is made up of a Board of Directors that all share the common purpose to improve high performance health systems. The Fund is led by a Chairman, James Tallon, and a Vice Chairman, Cristine Russell. These two highly influential people are...
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...Independent Report on Clinical Laboratory Testing Services Market for an Initial Public Offering (IPO) in Egypt A Frost & Sullivan Report 2014 1|P age Disclaimer © November 2014 Frost & Sullivan The market research process for this study has been undertaken through detailed primary and secondary research, which involves discussing the status of the industry with leading industry participants and experts, and compiling inputs from publicly available sources, including official publications and research reports. The Expert Opinion Consensus Methodology has been used for the report. Quantitative market information is based primarily on such interviews and desk-based secondary research; therefore, making it subject to fluctuation. Frost & Sullivan has taken all reasonable care to insure that the information contained in this report is, to the best of its knowledge, in accordance with the facts and contains no omission likely to affect its import. In making any decision regarding the transaction, the recipient should conduct its own investigation and analysis of all facts and information contained in the prospectus of which this report is a part and the recipient must rely on its own examination and the terms of the transaction, as and when discussed. The recipient should not construe any of the contents in this report as advice relating to business, financial, legal, taxation or investment matters and are advised to consult their own business, financial, legal, taxation...
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...for Economics Working Paper Supplementary private health insurance in selected countries : lessons for EU governments? CESifo working paper, No. 2739 Provided in Cooperation with: Ifo Institute – Leibniz Institute for Economic Research at the University of Munich Suggested Citation: Gechert, Sebastian (2009) : Supplementary private health insurance in selected countries : lessons for EU governments?, CESifo working paper, No. 2739, http:// hdl.handle.net/10419/30575 Nutzungsbedingungen: Die ZBW räumt Ihnen als Nutzerin/Nutzer das unentgeltliche, räumlich unbeschränkte und zeitlich auf die Dauer des Schutzrechts beschränkte einfache Recht ein, das ausgewählte Werk im Rahmen der unter → http://www.econstor.eu/dspace/Nutzungsbedingungen nachzulesenden vollständigen Nutzungsbedingungen zu vervielfältigen, mit denen die Nutzerin/der Nutzer sich durch die erste Nutzung einverstanden erklärt. Terms of use: The ZBW grants you, the user, the non-exclusive right to use the selected work free of charge, territorially unrestricted and within the time limit of the term of the property rights according to the terms specified at → http://www.econstor.eu/dspace/Nutzungsbedingungen By the first use of the selected work the user agrees and declares to comply with these terms of use. zbw Leibniz-Informationszentrum Wirtschaft Leibniz Information Centre for Economics Supplementary Private Health Insurance in Selected Countries: Lessons for EU Governments? SEBASTIAN GECHERT ...
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...Sciences de l'Homme Alternative Systems of Health Care Provision Author(s): Timothy Besley, Miguel Gouveia and Jacques Drèze Reviewed work(s): Source: Economic Policy, Vol. 9, No. 19 (Oct., 1994), pp. 199-258 Published by: Wiley on behalf of the Centre for Economic Policy Research, Center for Economic Studies, and the Maison des Sciences de l'Homme Stable URL: http://www.jstor.org/stable/1344496 . Accessed: 24/12/2012 16:11 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at . http://www.jstor.org/page/info/about/policies/terms.jsp . JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org. . Wiley, Centre for Economic Policy Research, Center for Economic Studies, Maison des Sciences de l'Homme are collaborating with JSTOR to digitize, preserve and extend access to Economic Policy. http://www.jstor.org This content downloaded on Mon, 24 Dec 2012 16:11:43 PM All use subject to JSTOR Terms and Conditions Alternative systems of health care provision Timothy Besley and MiguelGouveia and of Princeton University University Pennsylvania 1. I[ntroduction Around the developed world, many health care systems are in crisis. Populations feel...
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...Health Care Spending “More health care is not always better health care” (OECD, 2013, para. 2) Throwing money at the current health care system won’t necessarily help or solve the present-day crisis. The United States is #1 in the world in per capita health care spending yet our life span is not the longest or of the highest quality (OECD, 2011). This paper will overview the current and future health care programs, how they are currently financed and in the future, and how we can decrease spending. There are many methods to look at how healthcare expenditures are calculated. The CDC (Centers for Disease Control) tells us that in 2011 the US federal government spent $2.7 trillion or 17.9% of GDP (Gross Domestic Product) on healthcare expenditures (Canadian Institute of Health Information, 2013). This is broken down as hospital care 31.5%, LTC (long term care) 5.5%, physician fee and clinic visits 20% and prescriptions 9.1%. By comparison in Canada, $211 billion was spent representing 11.6% of GDP (Canadian Institute of Health Information, 2013). Of course it is probably unfair to compare the two countries. Canada, with a population of 35 million is closer to the state of California, at 38 million (United States Census Bureau, 2013). The Organization for Economic Cooperation and Development (OECD) is made up of 34 countries that “use its wealth of information on a broad range of topics to help governments’ foster prosperity and fight poverty through economic growth and financial...
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...SERIES HEALTH CARE FINANCING, EFFICIENCY, AND EQUITY Sherry A. Glied Working Paper 13881 http://www.nber.org/papers/w13881 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 March 2008 I thank Courtney Ward for research assistance and participants at the conference on Exploring Social Insurance, held in Toronto, November 2006. A version of this paper is forthcoming as a chapter in Exploring Social Insurance: Can a Dose of Europe Cure Canadian Health Care Finance? Edited by C. M. Flood, M. Stabile and C. Hughes Tuohy (Kingston, Montreal: Queen's School of Policy Studies, McGill-Queen's University Press). The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peerreviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. © 2008 by Sherry A. Glied. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. Health Care Financing, Efficiency, and Equity Sherry A. Glied NBER Working Paper No. 13881 March 2008 JEL No. H42,H51,I18 ABSTRACT This paper examines the efficiency and equity implications of alternative health care system financing strategies. Using data across the OECD, I find that...
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...year? I bet your guess was not over $8,000. The U.S. spends $8,233 on healthcare per person annually. (PBS.org) Our country spends by far more on healthcare than any other country besides Switzerland. (photius.com) This amount is more than two-and-a-half times more than most developed nations spend on healthcare. (PBS.org) But why? Is our healthcare the best in the world? The answer is no. In 2010, the World Healthcare Organization ranked the U.S. at 37, falling fifteen spots behind Columbia and just beating Slovenia and Cuba. (PBS.org) PBS News interviewed Mark Pearson, head of Division on Health Policy at the Organization for Economic Co-operation and Development (OECD) – an international economic group comprised of 34 member nations. Pearson talks about looking across a broad range of services, medical and surgical. He says the average price in the U.S. is about 85% higher than the average of all other OECD countries. (PBS.org) The average hospital stay in the U.S. costs about $18,000. The countries that came closest to spending as much as the U.S. were Canada, the Netherlands, and Japan, who spend $4,000 to $6,000 less per stay. Their average hospital stay is about one-third of that of the U.S., costing only $6,200 on average per stay. (PBS.org) The U.S. spends more than anyone else on healthcare, but does it really pay off how it should? According to an OECD report, America has a less than average physician to patient...
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...FEBRUARY 2010 Policy Brief ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT Economic Survey of China, 2010 What are the key challenges facing the economy? How should the monetary policy framework evolve? What reforms are needed in financial and product markets? How should social safety nets be strengthened? How has the labour market evolved? Can pensions be enhanced? How should health care be improved? For further information For further reading Where to contact us? Summary Since the OECD’s first Economic Survey of China in 2005, China has continued to expand rapidly. The economy is also weathering the global crisis remarkably well, not least thanks to prompt and vigorous macroeconomic policy action. Economic expansion is projected to continue over the medium run, and China’s share in the world economy is set to grow further. Despite the recent decline in the current account surplus, some imbalances remain, notably an overly high national saving rate, but ongoing reforms can be expected to help alleviate them over time. Structural reform has continued on a broad front in recent years, with an increasing focus on the need for social cohesion. Even so, efforts are under way or still needed in a number of areas to sustain improvements in living standards over the longer run. Further upgrading the monetary policy framework. China’s monetary policy framework has gradually become more market-based, with money growth as the main intermediate target. Going forward, it...
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...system based on general taxation. The tax rate is high at 20%. The Minister for Health & Children is responsible for healthcare policies and the Health Service Executive (HSE) is in charge of implementing the policy. Public hospitals in Ireland are owned and funded by the Health Service Executive (HSE) and there are hospitals which may be privately operated but funded by the government. Healthcare is essentially free. Anyone who is categorized as a common resident by the Health Services Executive, i.e. someone who is living in Ireland or intends to remain there for at least a year, has access to publicly funded healthcare. Indigenous citizens qualify by birth. Citizens must have a medical card that is issued by the HSE and are entitled to visits to a GP-General Practitioner, prescription medicines and certain medical equipment like wheelchairs, some dental treatment, vision and hearing services, treatment at public hospitals, and maternity and care of the newborn for up to six weeks after birth. They also may be entitled to free transportation to school for children who live 3 miles or more from the nearest school, and receive financial help with school book expenses. Despite free healthcare, there are problems in the Irish health system. Due to long waiting lists for surgical procedures or urgent treatments, many Irish citizens choose to purchase private health insurance. Private insurance allows patients to receive immediate treatment, bypassing long wait times and they...
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...Factors of Health Care Expenditure: Opportunities to Improve Canada’s Statistics [Authors Name] [Institutional Affiliation(s)] Author Note [Include any grant/funding information and a complete correspondence address.] Table of Contents Introduction………………………………………………………………………………2 Comparing Health System Performance…………………………………………………4 Sweden’s Healthcare Policy Framework………………………………………………...8 Canada’s Opportunities for Improvement………………………………………………..9 Conclusion……………………………………………………………………………….11 References……………………………………………………………………………….13 Influencing Factors of Health Care Expenditure: Opportunities to Improve Canada’s Statistics Globally, the number of variations that contribute to the government’s financial contribution to the health care system is great and ever changing. The amount of money spent on health expenditures varies as well, and is specific to each country. In countries with a high income, such as the United States and France, the per capita health expenditure averages over 3,000 USD, while in countries that are considered resource poor, such as Israel and Mexico, the average per capita amount is only 30 USD. (Ke, Saksena, & Holly, 2011). Wide variations in health expenditure are also specific to each country’s economic development. Less resourceful countries have been noted to only spend less than 3% of GDP on health, while other, more economically developed countries spend more than 12% of GDP on health. (Ke et al.,2011). The growth of health expenditures...
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...Health Care Spending Economics: The Financing of Health Care HCS 440 December 15, 2013 Health Care Spending The American Dream is described by The Free Dictionary as, “An American ideal of a happy and successful life to which all may aspire” ("Definition," 2013, p. 1) yet this can mean different things to different people. To this student it means happiness, prosperity, health, freedom, and the ability to makes choices according to what this student believes in. For other people, the American Dream will mean similar and probably different things. To many Americans the ability to have health care is a part of the American Dream. Obtaining health care insurance and being able to choose the insurance they can afford is part of their own American Dream. This choice usually comes through their employer or through being self-employed and choosing the appropriate health care insurance. This piece of the American Dream is becoming increasingly expensive and unobtainable. This student will explore current national health care expenditures, is there is too much spent or not enough if cuts need to be made, how health care needs are paid for, and a forecast of the economic needs of the health care system. The level of the current national health care expenditures Health care costs continue to increase. According to the Centers for Medicare and Medicaid Services (CMS), “U.S. health care spending reached $2.7 trillion in 2011, or $8,680 per person. Health spending grew 3.9...
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...iosrjournals.org Contribution of Insurance Sector to Growth and Development of the Indian Economy 1 1 2 Dr. M.Subba Rao, 2R. Srinivasulu M.Com, M.Phil, Ph.D Principal Sri Balaji P.G College (MBA) Anantapur – 515002 Andhra Pradesh - India M.Com, M.B.A Research Scholar Department of Commerce S.K University – Anantapur Andhra Pradesh India Abstract: For economic development, investment are necessary, investments are made out of savings. Insurance Company is a major instrument for the mobilization of savings of people particularly from the middle and lower income groups. These savings are channelized into investment for economic growth. Insurance serves a number of valuable economic functions that are largely distinct from other types of financial intermediaries. According to the official estimates, Indian economy is expected to grow at 7.6% (+/- 0.25%) in the fiscal year 2012–2013. However, leading financial organizations and economic think-tanks expect Indian economy to grow slower than official projections. The economy of India is the tenth-largest in the world by nominal GDP and the third largest by purchasing power parity (PPP). The country is one of the G-20 major economies and a member of BRICS. On a per capita income basis, India ranked 140th by nominal GDP and 129th by GDP (PPP) in 2011, according to the IMF. Fortunately, in the past few years, several interesting lines of research have begun to map the specific contributions of insurance to the economic growth process...
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...An Alternative Measure: Subjective Wellbeing Wellbeing is about looking at ‘GDP and beyond’, which includes headline indicators in areas such as health, relationships, education and skills, our finances, the economy, the environment and individuals' assessment of their own wellbeing. Knowing how money is earned will give us some insights about the employment condition and other income elements. Also, household expenditure can give us a better understanding in the expenditure structure. To be more specific, we can use the Engel's Coefficient as an example, which as a tool for assessing household expenditure can reflect the living standard. It suggests that a lower proportion of income spent on food indicates a higher standard of living, which is important for wellbeing assessment. Moreover, a thorough investigation into the household expenditure structure also helps us to better analyze people’s behaviors and preferences. However, measurement in income and expenditure is only about people’s financial condition. It only demonstrates people’s material wellbeing. For instance, the monetary numbers do not tell us that people in Beijing is suffering from air pollution. Looking solely at household income and expenditure does not give us any information about people’s living environment, life satisfaction, etc. Household wellbeing is not a simple add up of all the family members’ wellbeing. Like chemicals, the household wellbeing as a whole involves more subtlety. Thus, focusing...
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...Dr. David Tataw Healthcare Economics February 2, 2015 The economics of health care field studies demand and supply of health care resources, that is, allocation of the resources, within a given health care system. The health care system is defined as “the organizational arrangements and processes through which a society makes choices concerning the production, consumption, and distribution of health care services.”6 Because health care resources are limited, each society has to make decisions in terms of the distribution, consumption, and production of these services. A key factor that shapes the delivery of health care in any health care system is the evolving system for financing and reimbursement for health care services. The types of services delivered and the organizational approaches to delivering services are heavily influenced by how health care is paid for. In this paper I will discuss some values of healthcare professionals understand the discipline of health economics, the importance of considering the complex nature of health and healthcare when examining the economic principles, and the main potential benefits of learning about health economics. In the health care market, patients or consumers, health care providers or producers, and third-party payers are three major players. According to the principles of economic theory, consumers or patients on the demand side seek to maximize their utility or satisfaction, which is largely determined by...
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...Health Care Policies and Regulations Compared According to Jun, Osborn, and Squires of the Commonwealth Fund, in their International Profiles of Health Care Systems (2012), the role of the government in the Norwegian health care system is that the government is fully responsible for funding and controlling the health care system (para. 1). However, if citizens want to opt out of the government-controlled health insurance and purchase private insurance, they are able to do that, as well. This is sometimes the choice of some people when waiting lists are long and they choose to go to another country for treatment (Shafrin, para. 4). I have also heard from relatives that this is sometimes the case in Canada, as well, where there is also truly “universal” health care. However, the role of the government in health care in the United States is ever evolving and ever changing. Before the Affordable Care Act was passed in 2010 the role of the government was mostly regulatory, with the exceptions of Medicare and Medicaid and certain other special programs for people who needed financial assistance to access health care. That role is ever evolving now, though. Who is covered in these two countries? In Norway, the answer is simple: Everyone. 100% of the citizens are covered (Jun, Osborn, Squires, 2012, p. 86). In the United States, it is not as clear of a picture. According to Jun, Osborn, & Squires (2012), “In 2010, 56 percent of U.S. residents received primary care coverage...
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