Economic Terms

Economic Terms and Health Care

HCS/ 440

September 16, 2014

Steve Linerode

Abstract

Thought out the years the economics in health care have changed. The changes have been shown its self and arouse due to the election and re-election of president Obama. Economist, medical professionals and staff have become solely focused on the type of care provided to their patients. The sole focus has been on the preservation of life and what is needed in order to extend the lives of the patients as well as the cost of services rendered.

Health care economics has gone through many changes over the years. With all of the changes health care organizations have had to adjust their financial strategies as well as their organizational strategies. The economy plays a huge part on all of the changes that have been made. Health care organizations have had so many demands placed upon them in expectation of them fulfilling each and every one of them. Many of these changes that have occurred are due to the advances in medicine such as pharmaceutical, procedures as well as the diagnosis. Insurance Payments over the years have also changed with higher premiums and higher cost for procedures.  In the past it would be that you had like everyone else would have health insurance and your health care bills would get paid over time but now the payment system has changed which now causes more and more money coming out of the patient’s pocket. The main issue in health care is not how to reuse, fill or empty beds and clinics rooms but, in this changing environment, hospitals and health systems must focus on streamlining and simplifying their operational processes, promoting the least costly setting for care delivery, facilitating case management, and optimizing the resource sharing between its facilities departments. When hospitals have recognized and address these issues or situations, then solutions to the supposed “bed problem” will be more apparent and will sho9w obvious changes that...