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1811 Words Feb 24th, 2015 8 Pages
Implications of Health Economic Concepts for Health Care
Melissa James
Strayer University Dr. Wanda Allen Health Economics – HSA 510
February 1, 2015
Assignment # 1

Implication of Health Economic Concepts for Health Care
Assess the value of healthcare professionals and decision makers understanding the discipline of health economics. Healthcare is getting gradually complex around the world. The need for technological development, economic support, demographics changes and the study of diseases are shifting at a fast speed. There had been numerous labors in describing collective capabilities and values within the
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The possibility and complexity of the American healthcare system is enormous. Healthcare costs topped $1.5 trillion in 2005 with above 50% of expenses deriving from federal and state regime plans. There are numerous care providers in health care facilities, causing high resistance of request for single physician service area. The marketplace for universal experts and cooperative fields is more viable than the market for fewer specialties or clinic services. The business for health care facilities in any urban area will be more challenging than it would be in a rural site. Lastly, competition is narrowed to the degree that customers recognize health care services to be mixed and are unwilling to alternate providers (Schansberg, 2014). Health care cannot be viewed as ordinary commodities that can be removed from the counter to be sold out for physical cash as it is done with other types of businesses. The anticipated consequence would not be certain which is also based on various reasons, several of which are outside the control of the health care providers. Analysis of supply distribution in health care business is difficult because the market features vary from those in an impeccably competitive market. The market for health care services is considered an inadequate place because health care is an extensive merchandise, as the patient can experience a variety of consequences. Patients who are insured have intermediate payers such as Medicare or Medicaid

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