History and Evolution of Health Care Economics Essay

945 Words Aug 2nd, 2010 4 Pages
History and Evolution of Health Care Economics

University of Phoenix

History and Evolution of Health Care Economics

Health care economics have drastically changed over the course of history in the United States. While some can contribute these changes due to the evolutionary changes the US has undergone since her inception, the major contributing factors that influence the changes in health care economics are advances in technology and medical care. By understanding the history of health care economics, and identify the flow of funds system, financial managers are able to be more adequately prepared for the future. It is essential to remember that the driving force behind health care economics is money, and it plays an
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While this example does note both elasticity and inelasticity, Melcher argues that this country needs to return to its roots in terms of health cooperatives if the country is seeking ways to decrease their GDP, yet still provide adequate medical care for the public. Cooperatives is just another step towards a universal health care system, but financially this change could result into disaster if there isn’t careful management of this flow of funds. The upside to this change could prove to be more cost effective for the US, especially with the ability for health care professionals and facilities receiving a higher percentage of reimbursement for their services than the percentages being received from public, private, and other third parties.
Conclusion
Health care economics have drastically changed in the past 100 years, due to a variety of different factors. Technological advances as well as advances in medicine have affected the supply and demand aspect of health care economics, with people seeking better medical care. In the past, medical professionals were also considered to be trades people, as these individuals would allow other forms of payment for their services (such as grains or cotton). In the past, it was also the responsible for the “patient” to pay the full costs for medical services, but with changes in policy and evolutionary progression of the US, there are other organizations that aid

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