Economic Terms and Health Care History

Economic call and Health Care History
HCS/440
July 9, 2012


Economic Terms and Health Care History
What is health dish out economics? This paper impart cover the history and evolution of health care economics and the time line of health care funding. This paper pull up stakes also cover economic terms such as supply and demand, gross domestic product, and elasticity and inelasticity to name few. appreciation these terms and the timeline of economics in healthcare will win managers in making decisions for the organization. The first term is what is economics? economic science is The science that deals with production, distri windion and consumption of good and services (Getzen & axerophthol; Allen, 2007).
In the early 1900s there was not what a mortal would call health insurance. Most patients were treated in their homes which include any type of surgery. This type of treatment lasted until the 1920s. In 1918, the representation of Labor Statistics survey was with 211 families living in Ohio and 7.6 of their average annual medical expenditure was for hospital care. The main cost wasnt associated with the medical cost it was the lost wages because of loss of make ascribable to being sick. Most people felt they didnt drive health insurance.



Because people felt they did not need health insurance and commercial companies were unwilling to provide it (eh.net, 2010). in the midst of 1920 and 1930 the price of medical care would start to rise due to people not being treated in their homes but in hospitals. Physician quality changed because of the American Medical railroad tie (AMA), they decided that physicians need a license to practice medicine. By requiring physician to be educated this put a cut back supply of physicians and because the supply and demand (lack of doctors but medical care needed) caused the price of medical to increase.
The birth of health insurance began in 1929 with Baylor University Hospital when a group of teacher contracted with the University to provide 21 days of...If you want to get a total essay, order it on our website: Orderessay



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