Role of Economics in Healthcare

Question

Description

In a perfect world, health insurance is nonexistent and all medical markets are perfectly competitive.

Review the role that economics plays in healthcare and why is it important.

Use supply and demand analysis to explain the impact of the following changes on the price and output of physician services:

An increase in malpractice insurance

The adoption of cost-enhancing medical technologies

An aging population and a more severe patient case mix

Declining consumer income

A lower market price for physician services and devaluing of services

Increase in the role of insurance dictating patient care

Decrease in reimbursement levels by Medicare and Medicaid

Using supply and demand analysis, show graphically and explain verbally some of the factors that may have led to rising healthcare costs in the United States from 1960 to the present day.

Be sure to tend to the question in a complete and substantive manner with expert support for your conclusion.

Requirements:

A minimum of three (3) pages or 750 words excluding the title page and references, which are required.

Use support from at least three reputable Healthcare sources (other than course materials), i.e.  Course reading, professional association Web-based materials, and/or professional or peer-reviewed journal articles written in the last five years are required as sources.

Use APA format.

Times New Roman 12 pt font, double spaced with 1" margins.

Title and reference pages are required.

An abstract is not required.

Include a titled introduction, conclusion, and major section headings.