What are the unique characteristics of health care

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Reference no: EM133776510

Healthcare Economics

Objectives for Assignment:

Explain how economic decisions are made and what economic concepts are used to evaluate economic trade-offs.

Evaluate the economic impact of the major components of the healthcare system and assess their relative effect on health services management.

As you learned in Week 1, health care spending is growing faster than overall growth in the economy (as measured by GDP) and by 2026 is expected to consume 20 percent of GDP.

For this assignment use the course readings in Week 1 to answer the following questions:

Question 1) Why do we care that health care spending is growing faster than growth in the overall economy as measured by GDP? Support your conclusions with evidence.

Question 2) What are the unique characteristics of health care sector that creates inefficiencies in the market? What kind of inefficiencies? Why?

Question 3) In general, what two metrics would you use to evaluate trade-offs of spending more on health care vs. other non-health care goods? Why?

Question 4) From a government (policymakers) perspective, apply these two metrics to the current excessive health care spending and explain your conclusions.

Content

What is Economics?
Unique Characteristics of Healthcare Sector
Challenges faced by Healthcare managers
Rising Healthcare Expenditures
Why is it important to address
Recent Efforts to Control Costs
Evaluating Economic Trade-offs
Different Perspectives Consumers (Demander) vs. Providers (Suppliers)

Balancing Unlimited Wants with Scarcity of Resources in Healthcare

Challenges Faced by Healthcare Managers

Reference no: EM133776510

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