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Spending And The Healthcare Economy

Healthcare spending in the United States has continued to increase over the past several decades at a rate that far exceeds that of other nations. People have seen these increases on everything, from the cost of insurance premiums going up, to the costs of drug prices and office visits increasing. To familiarize yourself with some of the many areas and ways costs and spending are increasing, please review the NHE fact sheet.

• Discuss 1 area that you or someone close to you have seen these increases in costs.
• Examine these increased costs from the perspective of the leader of a healthcare organization. Consider the following:
  • Why do you feel there was an increase in the cost?
  • What, if anything, could have been done to react to the rise in costs and decrease their impact on the organization?
  • What can the organization do to help avoid these increases in the future?

Spending And The Healthcare Economy

People have seen consistent rates of inflation over the past several decades in healthcare. This inflation has been driven by increases in costs for health insurance, technology utilization, and demand for qualified providers and facilities. Consider the many areas in which the U.S. healthcare system has seen steady rises in costs. Imagine you are a financial manager for an organization that has seen significant cost increases in the past few years or decades in an area related to your organization (e.g., supplies, technology, outside services). Prepare an outline for a proposal on how to help reduce or minimize these costs.Use your text as a resource for this assignment plus one other resource from the library. Please cite your sources. The outline should include the following:

• Cost that is being looked at
• History of increases
• Potential future increases
• 1–2 suggestions for improvement or change

Healthcare reform is a constantly discussed topic in the U.S. healthcare system. Various influences, including political, societal, and real-time events (think COVID-19) all help to shape the discussion surrounding reform as it relates to the U.S. healthcare system. This link contains a tracker of all pending or introduced reform legislation currently.

Among the biggest talking points relating to the healthcare reform discussion over the past decade has been the Affordable Care Act (ACA) and whether it should remain as it is, be improved upon, or be dismantled and a new system put in its place. Review the most current attempt at modifications to the ACA in this link.

• Do you feel that the ACA should be left alone as it is, be kept in place and improved upon, or be removed completely and a new set of legislation put in its place?
• Discuss your reasoning for your conclusion, and why or how it can be accomplished.

DISCUSSION QUESTIONS

1.  Compare microeconomics and macroeconomics. What are the main concerns and goals of each field? Why is it important to study? 

2. Discuss the factors that contribute to long-run economic growth. Use real-world examples to illustrate the discussion.  

3.  Discuss the pros and cons of international trade. Explain why nations trade and factors that impact trade patterns

You are working trying to estimate the proper price to charge a market for the firm that sells beer in Lancaster Pennsylvania. They estimated that the demand curve for the market is Quantity demanded=20-2P. The firm currently prices the good at 8 dollars. They want to move the price to 6 dollars in a attempt to increase profits.This question is worth 5 points (please show work for full credit)

1) What is the elasticity for this move in price (Use the midpoint method for elasticity) make sure you show your work? (1.5)

2) Now you are contacted by a different branch of this company that is in a lower priced (Scranton P.A.) market with the same demand curve. They want to move the price from 2 to 5 dollars. What is the elasticity of this change (Use the midpoint method)?(1.5)

3) Now suppose you find out that there is a similar product that impacts the Quantity demanded for a product. The relationship is Qd=15+Pb. Now suppose the price (Pb) of the other good is 5 and goes to 6. What is the Cross-price elasticity of the good? what type of relationship is this (complement or substitute) (2)