How Does Health Care Affect The Economy

Health care is becoming more and more important to the economic well-being of communities in the United States. Businesses can get a competitive advantage with healthy, productive employees and contained health care costs. Good health and contained costs bring a community's taxpayers more financial stability as well as a better quality of life. In addition, the growth of the health care sector brings opportunities for innovators and entrepreneurs to create more economic growth. The healthcare industry worldwide is a complex set of both in the United States and globally, is a complex set of many sectors. It is impacted by government regulations, government agencies, and healthcare reform, as well as the rising costs of healthcare. However, beyond those constant challenges the healthcare industry also represents a sector of the …show more content…
There is a great deal of innovation, research and development, new drug discoveries, new medical device technologies that can represent investment opportunities. There are so many areas where the health care field can expand. The goal of healthcare organizations is to achieve better health outcomes while avoiding unnecessary costs. People cannot access health care until they are very ill or critically ill, in which case all of us, ourselves and other hospital systems, take care of those individuals. The problem with that from an economic point of view is that you have now allowed these individuals to get so ill that their treatment and their care is very expensive. An economic initiative I propose is for the hospital/organization to expand health insurance coverage to promote access and lower healthcare costs to the community as well as the organization. Trying to lower cost by cutting prices or covered services