Microeconomics Versus Macroeconomics Bus610 Essay

1615 Words Apr 22nd, 2011 7 Pages
Microeconomics versus Macroeconomics
Economics for the Global Manager
BUS610-1101C-02

Abstract I want to thank everyone for joining me today to review the effects of microeconomics and macroeconomics in conjunction with the healthcare industry. We will start with a brief introduction of what we will review, and then briefly hit on the subject matter in a bit more detail. “The world’s largest and most diverse economy currently faces the most severe economic challenges in a generation or more”. The value of resources is an important aspect of economic status with both microeconomics and macroeconomics. It is important to understand the differences and similarities between microeconomics and macroeconomics to fully understand
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One important concern within the healthcare industry and healthcare reform is the potential shortage of primary care providers. As the healthcare industry and insurance requirements change, the demands of primary care providers are estimated to increase at an extremely rapid rate (Sherrod, 2010). So to make this easier to understand, Healthcare Reform is taking an initiative for the patients to propose a new healthcare model which will provide all citizens affordable health insurance. With the already known scarcity of primary care physicians, it is anticipated that the rate of new primary care physicians compared the influx of new patients, the ability to keep up with the increase we deem challenging. There is a new initiative of the PPACA, which includes financial incentives to increase the supply of primary care physicians (Sherrod, 2010), however it is still estimated primary care physicians will still be a scare resource. On the other hand, if there are no insurance restructures, the consumers who cannot afford insurance, will continue to seek inconsistent medical treatment through emergency room department care, which increases medical care costs for the whole economy (Wu, 2001). The higher income consumers will seek continual care, which normally reduces healthcare cost, yet they will have to pay higher premiums to compensate, due to the uninsured consumers care, which increases healthcare costs. The basic methodology of

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