What is health economy and how can it impact your practice?
You can identify the most important issues related to financing and health economics.
These readings indicate that the health care system in America is either failing or is in dire need of major reform.
Which side do you lean towards?
Arguments supporting your position are needed.
You can explain or support your argument using several economic concepts that were introduced in the readings.
Examine how the current economic situation affects the APN’s ability to perform their duties.
APNs should be able to understand finance and health economics.
What does this discipline look like when it comes to economic and financial matters?
What is important in economics and financing healthcare?
Centers of Medicare, Medicaid Services and Centers of Medicare estimate that by 2020, the Gross Domestic Product for medical expenses in the United States would be nearly 20%.
The United States has the highest healthcare spending in the world (Penner 2013).
Is America’s healthcare system failing?
Health economics is an area of economics that focuses on efficiency and effectiveness in health care.
The study of health care functions and their relation to finance and economics is what economists are interested.
These issues include resource allocation, costs, resource usage, efficiency, and resource use.
These issues include mobilization funds for health care and the allocation of these funds in specific regions or health sectors.
The payment methods that citizens use for health care financing are another important aspect.
It also plays a role in the distribution of resources to ensure affordable health care for citizens from different social classes.
In the United States, medical insurance has been a controversial issue for many years. There are many people who cannot afford insurance and may not be able to pay for essential medical care.
A variety of factors have led to the failure of the current country’s health care system.
Culyer, 2014. A successful system of health care must be efficient, effective, well-allocated and cost-efficient.
It is clear that the current health system does not meet the requirements for success and is therefore failing.
The current system of health care is expensive and unaffordable for many.
There are many instances where the health care resources are not being utilized correctly.
APNs play an essential role in health care, specifically in financial management in the health department.
APNs are affected greatly by the current economic situation. APNs are expected to provide medical treatment to all patients, regardless of the severe conditions.
It is difficult to deliver services to patients if there are insufficient resources within the health care sector.
APNs need to be familiar with health economics in order to help improve the system through efficient resource use (Rosenthal 2017).
The impact of economics discipline on the practice of health care is huge for many reasons.
Budget allocation is crucial for health care. This is because citizens need to be provided with quality health care services.
It is essential to allocate, manage and maximize these resources in order to achieve the health care goals (Feldstein (2012)).
This write-up discusses the effects of health economics upon the practice of health professionals.
This article also highlights the importance and benefits of having medical coverage.
It is crucial to understand the financial and economic aspects of health care.
It allows for the proper allocation of resources.
This ensures that all sectors of the health system are covered by the government.
Resources must be distributed fairly based on specific health care needs.
It is also important to understand the costs of offering services.
Once the costs are established, resources can be used.
The people responsible must be knowledgeable in health economics to ensure that these resources can be used efficiently.
Economics are important in health care because it is used to procure equipment and materials for healthcare.
The opinion is expressed on the matter and indicates that capital has not been made available to the health system.
With good references to the quoted text, a detailed explanation of the same is provided.
It is difficult for many people to afford their health care, making it less effective.
For better health care delivery, the Affordable Care Act must be reviewed.
Culyer A. J.
Encyclopedia of health economics.
Healthcare management and economy: Perspectives on private and public administration.
Hershey (Pa): IGI Global (701 E. Chocolate Avenue Hershey Pennsylvania 17033, USA).
An American sickness: How healthcare was big business in America and how you can get it back.